NEW YORK (TheStreet) -- Apple (AAPL) has hired longtime cable executive Jean-Francois Mule to work as engineering director on an unspecified project. Mule commented via his LinkedIn page that his work so far has him "challenged, inspired and part of something big".
Last year, Apple CEO Tim Cook said the television market was on Apple's radar. "It's a market that we see has been left behind. It's an area of intense interest," he told NBC.
Mule's experience will be of great value if Apple moves into the cable television space beyond its current media receiver Apple TV. As former vice president of CableLabs, he was responsible for developing software, including voice and video apps, for the cable industry.
Apple shares are 0.34% higher to $489.61, as of 3:40 p.m. EST. The company is leading the S&P 500 which is down 0.25%.
TheStreet Ratings team rates Apple as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate Apple (AAPL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: