Tech behemoth Apple (NASDAQ:AAPL) is opening its first store in India in Mumbai, the financial hub of the country.
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Further, the company is also working on opening a second outlet in the country’s capital, New Delhi. The development comes as India continues to gain prominence for the company.
Apple CEO Tim Cook recently visited an Apple store in China in what was his first visit to the country since the onset of the COVID-19 pandemic. At the same time, Apple’s production in India is on the rise and its supplier Pegatron is already looking at setting up a second manufacturing location in the country.
Separately, antitrust authorities in Germany are probing Apple’s tracking rules as well as transparency in App tracking in a bid to stop anti-competitive actions.
Overall, the Street has a $170.73 consensus price target on AAPL implying a 4.3% potential upside in the stock. That’s on top of a nearly 31% climb in the share price so far this year.
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