NEW YORK (TheStreet) -- Apple (AAPL) shares are up 1.2% to $100.32 on Tuesday, a day after analysts at RBC Capital forecast that the company will sell 10 million units of its highly anticipated iPhone 6 during the first weekend of availability.
Such a haul would be a record for the company which recorded 9 million first weekend units sold of its previous iPhone last year.
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Analyst Amit Daryanani raised his end of the year iPhone 6 sales estimates to a high of 75 million from previous estimates of 56 million units sold by the end of the December quarter.
It has been rumored that Apple will unveil the new phone at a media event on September 9.
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 few notable 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 solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."