NEW YORK ( TheStreet) -- Apple ( AAPL) shares are flat in trading today following reports that the tech company may have to delay mass production of its much anticipated iWatch until November of this year.
KGI Securities analyst Ming-Chi Kuo believes that the company will only be able to ship 3 million of the devices this year due to production delays. This contradicts a Reuters report last month that speculated that production would begin in July.
The Wall Street Journal reported that production would begin in August or September.
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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 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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: