Will Apple (AAPL) Stock Move Higher Today As New iPhones Set For Production?

NEW YORK (TheStreet) -- Shares of Apple Inc.  (AAPL) are slightly higher in pre-market trade after it was reported that suppliers in China will begin mass production of their largest iPhones next month, sources told Bloomberg, as the smartphone maker faces increased competition.

Apple is ramping up on two bigger devices, the sources said, One model will have a 4.7-inch display, compared to the 4-inch screen of the current iPhone 5s, that may be available to ship to retailers around September, sources added. A 5.5-inch version is also being prepared for manufacturing and may be available at the same time, sources said, Bloomberg reports.

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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 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, 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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