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Apple to close again more than 20 stores due to COVID-19

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
COVID-19 and bad faith actions turn against Apple.

This week TECH100 reached new highs, with a record-high close on Tuesday. The main force behind TECH100’s surge, Apple, is now confronting with COVID-19. 

They were among the first companies to close stores when the outbreak was declared a pandemic, back in March. For the past few weeks, stores began to reopen with increased safety measures – mandatory masks, social distancing, and temperature checks. Many stores operate by appointment and pickup only.

Two days ago, Apple decided to close seven stores in Texas, as the number of infections started to increase once again. This is the second store-closure in a month; after those in Florida, North and South Carolina, and Arizona were closed for the same reason.

But, as of yesterday, things took a turn for the worse, and 14 more stores will shut-down in Florida.

Besides the US stores, the rest of 239 international stores are operating, and in Quebec, the company will open four additional ones.

Moreover, Apple is under scrutiny by the US Department of Justice and state attorneys, and European regulators due to the revenue that comes from purchases made by clients on App Store and Apple Pay through third-party apps. The action is considered to be anticompetitive and arbitrary.

The stock price went up 48% in just three months, while USA500 rose by 26%. 

Nothing can stop you from knowing more! Visit CAPEX.com to stay informed!

Sources: 9to5mac.com, cnbc.com, marketwatch.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.