NEW YORK (TheStreet) -- Shares of Apple Inc. (AAPL) are up slightly 0.13% to $92.30 after Cantor Fitzgerald said it expects the company to be unfazed by Amazon's (AMZN) new Fire Phone which was unveiled on Wednesday.
"In our view, the 4.7-inch Fire Phone could have a minor impact on Android-based vendors, but we do not expect Apple to be affected. This is especially true in 2014, as we believe the larger-sized iPhone 6 will be tough to compete with this year," Cantor Fitzgerald said in its research note.
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Cantor Fitzgerald maintains a "buy" rating and price target of $111.00 on Apple.
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 multiple 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."