How Will Apple (AAPL) Stock React To China's Denial That It Removed Its Products From Government Buy List?

NEW YORK (TheStreet) -- Apple  (AAPL) devices have never appeared on a Chinese list of products eligible to be bought with public money, state media quoted an official as saying, denying reports the U.S. tech giant had been excluded from the latest line-up, according to Agence France-Presse.

A report by Bloomberg said that China removed 10 Apple devices, including MacBook laptops and the iPad, from a government procurement list over security concerns.

But the China Government Procurement News, which is run by the finance ministry, cited an unnamed ministry official as saying that Apple's goods had never appeared in the "energy-saving product list", which is updated about every six months.

Shares of Apple are down -0.84% to $93.69.

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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 several positive factors, 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 solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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