Why Apple (AAPL) Stock Hit a One-Year High Today

NEW YORK (TheStreet) -- Apple  (AAPL) rose to a one-year high of $592.95 on Monday after a report from market research firm Kantar Worldpanel Comtech that the tech giant had increased its smartphone market share in several crucial international markets.

Apple's smartphone market share in five major European markets of the U.K., Italy, Spain, France and Germany ticked upward 0.1% year over year to 19.2%. Growth in Spain was particularly noteworthy, as it increased to 7.6% from 3.1% in the same period last year. Apple's smartphone market share also increased to 33.1% from 31.1% in Australia.

Apple's market share growth in Japan surged year over year to 57.6% from 49%.

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Separately, TheStreet Ratings team rates APPLE INC as a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLE INC (AAPL) a BUY. This is driven by a number of strengths, 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, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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