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Apple Shuts New York City Stores for Indoor Shopping — Report

According to a report published by Reuters, Apple, Inc. (NASDAQ:AAPL) has disallowed indoor shopping at all its stores in New York City, following a rise in Omicron cases.

People can place orders online and pick them up from the stores in the city, including the outlets at Fifth Avenue, Grand Central and SoHo.

The company said, “We regularly monitor conditions and we will adjust both our health measures and store services to support the wellbeing of customers and employees.”

Earlier in December, Apple had temporarily shut three stores in Canada and the U.S. after the stores’ employees were exposed due to a rise in COVID-19 cases.

Meanwhile, the company’s shares closed 2.3% up on Monday. However, in the after-hours trading session, the stock lost 0.3% to end the day at $179.80.

Wall Street’s Take

Last week, Citigroup (C) analyst Jim Suva maintained a Buy rating on the stock and raised the price target to $200 from $170 (11% upside potential).

In a research note, the analyst said, “Apple shares will continue to benefit from the company’s aggressive posture on returning cash to holders via dividends and especially stock repurchases.”

Overall, the stock has a Strong Buy consensus rating based on 21 Buys, 4 Holds and 1 Sell. The average Apple stock forecast of $175.28 implies 2.8% downside potential. Shares have gained 34.5% over the past year.

Website Traffic

TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into Apple’s performance.

According to the tool, compared to the previous year, Apple’s website traffic registered a 19.3% decline in global visits in November. However, the website traffic has increased nearly 14% year-to-date against the same period last year.

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