NEW YORK (TheStreet) -- Apple (AAPL) shares are up 0.9% to $112.78 in trading on Monday after the global tech giant announced that it was reopening its online store in Russia a week after it halted sales in the country due to its falling currency.
The Cupertino, CA-based company reopened the store with a 35% markup on items sold, the second time in less than a month that the company has raised prices in the country.
Russia's ruble has suffered from falling oil prices and international economic sanctions stemming from its border conflict with the Ukraine, leading the currency to lose almost 30% of its value compared to the dollar.
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Apple's iPhone 6 with 16 gigs of storage is now retailing for 53,990 rubles, or $956 today, according to Bloomberg.
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 solid stock price performance, growth in earnings per share, revenue growth, notable return on equity and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."