Moody's rates Apple Aa1

Moody's Investors Service said it assigned an Aa1 senior rating to Apple Inc. The outlook is stable.

The agency said the Aa1 rating reflects Apple's very robust financial profile and position as one the world's leading providers of mobile communications devices, tablets, personal computers, portable media players and digital content. Although the company does not possess dominant market share in most of its segments, its brand positioning at the higher end of its product categories and its interrelated suite of products allows it to command premium pricing and generate outsized returns relative to industry peers, Moody's said.

Apple's rating is not higher due to Moody's view that there are inherent long-run risks for any company with high exposure to shifting consumer preferences in the rapidly evolving technology and wireless communications sectors, the agency said.

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