Investment firm JP Morgan has trimmed its AAPL price target to $335 due to the expected fallout from social distancing and store closures having a larger than the previously-predicted impact on Apple's bottom line.
Maybe 2019 was practice for Apple, as it is now used to releasing new products via a press release. That's what it had to do in March 2020 as the whole world self-isolated, and Apple Stores closed their doors.
Apple on Friday announced plans to shutter all retail operations in Spain starting this weekend, the latest in a string of country-wide closures prompted by the ongoing COVID-19 pandemic. A U.S. store in Pennsylvania has also closed on orders from the state's governor.
Apple is closing all the Apple Store locations across Italy as a precautionary measure against the coronavirus, with all of the retail locations to be closed on Thursday and extending for an unknown period of time.
Beyond just closing all of its retail stores in Italy, Apple is escalating the special measures it is taking to curb the spread of the coronavirus, including retail staff minimizing physical contact with customers and removing half of the available seating.
Hours after canceling Today at Apple sessions across Italy, Apple on Monday announced a number of its stores in the country will see reduced operating hours or closures to help mitigate the impact of the new coronavirus.