Why Apple (AAPL) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of Apple  (AAPL) rose 1.27% to $101.38 in morning trading Tuesday after the tech giant announced its iPhone 6 and iPhone 6 Plus would go on sale in China on October 17.

The release gives Apple access to the hundreds of millions of customers available in the world's most populous nation.

Pre-orders in China begin on October 10.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Watch the video below for more on Apple's entry into China with the iPhone 6:

"We are thrilled to bring iPhone 6 and iPhone 6 Plus to our customers in China on all three carriers at launch," said Apple CEO Tim Cook. "With support for TD-LTE and FDD-LTE, iPhone 6 and iPhone 6 Plus customers will have access to high-speed mobile networks from China Mobile, China Telecom and China Unicom for an incredible experience."

Apple sold more than 10 million iPhone 6 and iPhone 6 plus devices in their first weekend on the market.

Separately, 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."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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