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