Why Apple (AAPL) Stock Is Down Today

NEW YORK (TheStreet) -- Apple  (AAPL) dipped Friday after the tech giant issued a recall in 37 countries for overheating European iPhone chargers.

The adapters in question were sold with iPhone 3GS, iPhone 4 and iPhone 4S models between Oct. 2009 and Sept. 2012. Apple informed customers that charges with "Model A1300" on the base of the plug could require an exchange.

"Apple has determined that, in rare cases, the Apple 5W European USB power adapter may overheat and pose a safety risk," the company said on its website. "We have voluntarily decided to exchange every affected power adapter for a new, redesigned adapter, free of charge."

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The recall affects countries including France, Germany, Egypt, South Africa and Vietnam, but not the U.S. or U.K.

The stock was down 0.92% to $91.44 at 10:14 a.m.

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 few notable 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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