Why Apple (AAPL) Stock Is Up Today

NEW YORK (TheStreet) -- Apple  (AAPL) rose slightly on Friday amid reports that the tech giant would release its much-anticipated smartwatch in October.

Separate reports from Reuters and The Wall Street Journal note the device, colloquially known as the "iWatch," would release as early as October. Reuters reports Taiwanese company Quanta would begin mass producing the watch in July. The watch will reportedly have a 2.5-inch screen, a touch display and wireless charging.

The Wall Street Journal, meanwhile, reports Apple will release multiple versions of the watch with a focus on fitness. The watch will reportedly have more than 10 sensors to document health, fitness and more.

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The stock was up 0.21% to $92.06 at 11:01 a.m.

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."

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