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Apple pushes back U.S. stores restart date

Apr. 03, 2020 12:38 AM ETApple Inc. (AAPL) StockAAPLBy: Gaurav Batavia, SA News Editor47 Comments
  • Apple (NASDAQ:AAPL) told employees that its retail stores in the U.S. will remain closed and work-from-home procedures will stay in place until early May due to the Covid-19 pandemic, according to a memo viewed by Bloomberg.
  • Apple Senior Vice President of Retail and People Deirdre O’Brien said that "Apple is continuing to monitor local conditions for every Apple facility on a daily basis and that the company will make reopening decisions on the basis of thorough, thoughtful reviews and the latest guidance from local governments and public health experts.”
  • Prior: Apple reopening retail stores in April - Bloomberg

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Comments (47)

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T
I would have to believe that the entire country will not completely shut down and die on the vine. Instead of going to a brick and mortar location, apple will probably shift its emphasis to online sales, as will the rest of business. Whoever figured that restaurants would be doing curbside pickup, including mixed cocktails from the bar. Chicken littles need to stay away from KFC lest they find themselves seasoned and in a bucket.
U
Mayors and Governors have been issuing orders shutting down "non-essential" business. Apple will not be able to reopen its stores until government allows it. There is nothing business can do if government shuts it down completely, backed by police power.The shut-downs and stay-at-home declarations are orders, not requests. Here in DC, if you leave your home for any reason other than the five allowed by the Mayor, you are subject to imprisonment.
Equityhigher profile picture
Covid... what an over blown, hyped fiasco. Everyone is scared of looking at someone. What has this accomplished but putting 6M people without an income. That is not the answer. And of source this flu will continue. There will be another wave just like the flu. We will all get it at some point. Can’t stop it. But for the 99% that do, stay at home and let the immune system kill it. Now your own body is the cure. This does impact the elderly or one with existing conditions but that’s the answer. Greater precaution with that group. Increased sanitization. Don’t sneeze in public. Stay at home if sick. wash hands. Blah blah... just common sense You wanna make America great... better yet the world... just open it up
A
Every medical expert tells us that if you "just open it up" millions will die in this country alone. Was that somehow missed your post or is it simply not important? How do you balance your stay at home mantra with "just open it up"?
Equityhigher profile picture
Re read what I wrote! I highlighted a higher level precaution to the group most prone... the elderly!! Everyone needs to be aware that this group needs special attention. But my point is that 99% diagnosed will be fine. They are all told “stay home for 14 days”. And that is the medical response. It’s unfortunate that people are dying from it... many more die from other diseases with no cure. But the current way we are dealing with it is NOT sustainable. I wholly agree that pursuit the cure is causing greater pain then the virus itself. 1M got it. Over 8M lost their income. Of that less than 1% will die... similar to flu with majority of deaths >70 years old. You are an example of a member of the herd (sheep)...your a follower. So instead of responding with a sarcastic response, think of another way, a better way to resolve... her others to respond with ideas, innovation. You my friend talk gloom and doom!! Do better next time.
m
-- "Every medical expert tells us that if you "just open it up" millions will die in this country alone."

@Aboo - Medical experts have backed away from these extreme predictions. It's a dangerous virus and precautions need to be taken, but pushing extreme and outdated info isn't a good idea. If there are experts still claiming millions are going to die do cite them please.
BWAHAHAHAHAHA profile picture
Slow news day?
Doctor_ECE_Prof profile picture
Read this line carefully : "the company will make reopening decisions on the basis of thorough, thoughtful reviews and the latest guidance from local governments and public health experts.”
Underline Local and Public health experts :)
B
From that statement, we can deduce that most of Apple's decisions are not thorough or thoughtful.
C
So are most of your posts
j
What kind of logic is that?
SEC Investigator2 profile picture
This will be the demise of Apple unless they buy a movie studio this month!
h
You should let them know.
BAHAMAS1 profile picture
sec-

What a DUMB comment...imo.
M
the bots are only as good as the person programming them are. that's why you get these inane comments that appear to be written by an idiot.
Comfortably Numb profile picture
Well....duh
Fund Manager profile picture
$AAPL's big EARNINGS WARNING is likely coming after the close today!!

By now, surely they've tallied the revenues for each product segment and it's bleak!

1******* Their APPLE STORE "Brick & Mortar" sales model is totally DEAD (who wants to touch a greasy Demo iPhone or iPad in a crowded Apple Store that may have the Coronavirus)?? Even AFTER they re-open stores, people still aren't going to risk getting the Coronavirus.

2******* Likely 5G delay into 2021. The promise of a major upgrade cycle for 5G iPhones helped propel AAPL stock to new heights this year, but without that happening in 2020, there's a lot of air below for AAPL share price.

3******* Their iPhone UPGRADE CYCLE sales have plummeted. People will keep their FUNCTIONAL old phones. There is NO DISCRETIONARY spending happening. This means frivolous phone upgrades! Many iPhone fanboys used to upgrade from 1-2 year-old working phones JUST to have the latest model. But with so many people out of work and no more "wealth effect" of the stock market, people will likely not be upgrading phones unless absolutely necessary.

www.cnbc.com/...

Schlossberg of BK Asset Management: "The average U.S. consumer is likely to only spend their money on non-discretionary goods. Unfortunately, the average consumer will "absolutely" avoid anything discretionary for at least a year."

The 3 MAJOR headwinds mentioned above for AAPL portend a massive share price decline:

1 -- Apple Stores now closed until May,
2 -- 5G Delay,
3 -- Complete Collapse of Upgrade Cycle Demand)

Expect Analysts (who are usually slow to react) to dogpile on the Downgrades.
R
So Apple should sell toilet paper, IPaper 🧻...
tomatojuice profile picture
@Fund Manager
Thank you for this comment. This is why I have been loading up puts. I don't see lots of positives out of Apple camp the next week or so.
I
It won’t be just Apple. People really believe this pandemic is over at end of april and we resume at 100% economic activity. In Asia they are expecting a 2nd wave, every day this week the cases increase for hong kong, singapore and taiwan. Those countries were praised to hold it under control from day1. In Italy the cases are barely decreasing, only a bit. We have to keep shutting down airports to prevent a 2nd wave as well while we wait for a vaccine which might still be 12-18 months away. If we will go back, we will do it in phases and local places will probably be shutdown longer, people who are still afraid and spent money because they are layed off or might be. Less activity = cost reduction with layoffs. They were promised the layoff is temporarly but they are not on a hiring spree if revenue won’t pick up. Took 10 years to get full employment again and people really believe it will take only 1 month this time ....
r
Smart. We should all take as many precautions as possible in order to combat this deadly virus.
N
LOL ITS THE FLU
Zforce profile picture
the Gov tomorrow needs to say"hey you are free to open your business back up, take precautions, you can choose not too, etc. set up social distance if possible, if your at risk stay home, etc. the impact of the economy is worse than a bunch of people dying. tons of people die every year from aids. flu. heart attacks, e.t.c. ... that's life
r
AH......wait till u lose somebody from COVID-19.
Who Dat? profile picture
Who cares! Nobody is buying a new iPhone. If they wanted to, they shop on Amazon.
a
Good luck with your ‘renewed’ iphone from Amazon
b
Are you serious....AAPL will snap back strongly as the market turns back up in late April/early May.....
cramerkim profile picture
Difficult part is store may open in early May or later or quite later.

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