Apple is temporarily closing its 42 stores in mainland China, as new coronavirus spreads rapidly and the death toll there rises to 304
The apple stores, corporate offices and contact centres will remain closed in China until February 9 “out of an abundance of caution and based on the latest advice from leading health experts," says a statement from iPhone maker.
Apple is temporarily closing its 42 stores in mainland China, one of its largest markets, as a new virus spreads rapidly and the death toll there rose to 304 on Saturday. “Our thoughts are with the people most immediately affected by the coronavirus and with those working around the clock to study and contain it," the statement said.China is the company's third biggest market in terms of sales behind the United States and Europe and it is also where most iPhones and other devices are made.
That performance propelled Apple's stock price to new highs earlier this week, but the escalating uncertainty about the situation in China quickly dampened spirits.In a Saturday note, Wedbush Securities analyst Daniel Ives predicted the store closures will have a “negligible" impact on Apple, largely because consumers in mainland China will still be able to buy iPhones and other products through online channels.
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