NEW YORK (TheStreet) -- Verizon Communications (VZ) shares are up 0.5% to $49.94 on Friday as a result of the ripple effect of the 20 million iPhone 6 units Apple (AAPL) is expected to sell this weekend.
Demand for the just released smartphone has been so strong that 4 million units were sold in just a 24 hour period when pre-orders were made available last Friday.
Fellow carriers AT&T (T) , Sprint (S) and T-Mobile (TMUS) are all experiencing gains in trading today.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Separately, TheStreet Ratings team rates VERIZON COMMUNICATIONS INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIZON COMMUNICATIONS INC (VZ) a BUY. This is driven by multiple 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, notable return on equity, compelling growth in net income, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."