Apple: We don’t share an optimism under the circumstance
Here’s a Thought! 26 June, 2020, by Vladimir Rojankovski, Head of analytical dept., Grand Capital
Coronavirus is inexorable. Apple has now announced the re-closing of 32 stores in the United States due to a surge in Covid-19 cases.
Apple will shut down again 14 stores in Florida as Covid-19 rates rise in the state. The shutdowns come after Apple re-closed stores in Texas, North Carolina, South Carolina, Arizona, and Florida in recent days. It follows the closure last week of nearly a dozen Apple Stores across Florida, North and South Carolina, and Arizona (Apple has 271 U.S. locations).
Notwithstanding, some high ranked analysts risk increasing the company’s target price up to $400 per share on the back of yesterday’s contrarian gain by 1.33% and excitement about its 5G network and iPhone 12 releases. We don’t share such an optimism under the circumstance.
Coronavirus is inexorable. Apple has now announced the re-closing of 32 stores in the United States due to a surge in Covid-19 cases.
Apple will shut down again 14 stores in Florida as Covid-19 rates rise in the state. The shutdowns come after Apple re-closed stores in Texas, North Carolina, South Carolina, Arizona, and Florida in recent days. It follows the closure last week of nearly a dozen Apple Stores across Florida, North and South Carolina, and Arizona (Apple has 271 U.S. locations).
Notwithstanding, some high ranked analysts risk increasing the company’s target price up to $400 per share on the back of yesterday’s contrarian gain by 1.33% and excitement about its 5G network and iPhone 12 releases. We don’t share such an optimism under the circumstance.