- Moody's Investors Service upgraded Apple Inc's AAPL senior unsecured rating to Aaa from Aa1 and affirmed its Prime-1 rating for commercial paper.
- The ratings outlook is stable. Moody's analyst Raj Joshi said.
- "The upgrade of Apple's rating to Aaa reflects the company's exceptional liquidity, robust earnings that we expect will continue to grow over the next 2 to 3 years, and its very strong business profile. Apple's ecosystem of products and services provides enhanced revenue visibility over time despite some level of volatility that is inherent in its businesses from product introduction cycles."
- Price Action: AAPL shares traded lower by 0.42% at $172.26 in the premarket session on the last check Wednesday.
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