Shares of Apple were gaining 0.1% to $102.39.
While Apple may introduce the new wearable at its event on September 9, sources told Re/code that it "won't arrive at market for a few months." The device will reportedly come out sometime in early 2015. Apple's wearable device is often referred to as the "iWatch," though the report doesn't use that name.
TheStreet's Antoine Gara has more on Apple's planned product launch and also the latest in the Alibaba IPO:
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TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."