NEW YORK (TheStreet) -- Apple (AAPL) shares are up 0.7% to $101.66 on Monday after reporting that weekend iPhone 6 and iPhone 6 Plus sales topped 10 million units, breaking all of the company's previous launch weekend sales records.
The phone was available in 10 countries around the world this past weekend and is expected to be available in 20 additional countries by this Friday.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Despite the unprecedented success, CEO Tim Cook believes the company could have sold more iPhones if it had a greater supply.
"While our team managed the manufacturing ramp better than ever before, we could have sold many more iPhones with greater supply and we are working hard to fill orders as quickly as possible," said Cook.
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 the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."