NEW YORK (TheStreet) --Shares of Apple Inc. are up by 0.17% to $129.72 in pre-market trading on Monday morning, after the tech giant announced that it is planning a $1.9 billion initiative to build and operate two new data centers in Europe. The facilities, which will be powered by 100% renewable energy, will be located in County Galway, Ireland and Denmark's central Jutland. These two facilities will power Apple's online services for the iPhone maker's European customers. Exclusive Report: Jim Cramer's Best Stocks for 2015 "We are grateful for Apple's continued success in Europe and proud that our investment supports communities across the continent. This significant new investment represents Apple's biggest project in Europe to date. We're thrilled to be expanding our operations, creating hundreds of local jobs and introducing some of our most advanced green building designs yet," Apple CEO Tim Cook said in a statement. "We believe that innovation is about leaving the world better than we found it, and that the time for tackling climate change is now. We're excited to spur green industry growth in Ireland and Denmark and develop energy systems that take advantage of their strong wind resources. Our commitment to environmental responsibility is good for the planet, good for our business and good for the European economy," said Lisa Jackson, Apple's vice president of Environmental Initiatives. Apple expects that the two data centers will begin operations in 2017. 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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results." Highlights from the analysis by TheStreet Ratings Team goes as follows: Powered by its strong earnings growth of 47.72% and other important driving factors, this stock has surged by 67.31% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, AAPL should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year. APPLE INC has improved earnings per share by 47.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, APPLE INC increased its bottom line by earning $6.43 versus $5.66 in the prior year. This year, the market expects an improvement in earnings ($8.58 versus $6.43). The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Computers & Peripherals industry average. The net income increased by 37.9% when compared to the same quarter one year prior, rising from $13,072.00 million to $18,024.00 million. Despite its growing revenue, the company underperformed as compared with the industry average of 30.7%. Since the same quarter one year prior, revenues rose by 29.5%. Growth in the company's revenue appears to have helped boost the earnings per share. Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. When compared to other companies in the Computers & Peripherals industry and the overall market, APPLE INC's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500. You can view the full analysis from the report here: AAPL Ratings Report
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