Apple’s hourly workers will continue to receive pay in alignment with business as usual operation, Apple CEO Tim Cook said, and online sales will continue as usual.
The apple stores, corporate offices and contact centres will remain closed in China until February 9 “out of an abundance of caution and based on the latest advice from leading health experts," says a statement from iPhone maker.
This year’s Black Friday sales are just behind the $7.9 billion haul of last year’s Cyber Monday, which holds the one-day record for online sales, according to Adobe Analytics.
If the gains hold, Apple would be within touching distance of again topping $1 trillion in market value, just shy of the world’s most valuable company, Microsoft Corp.
Will the tech giant be able to compete with huge services like Netflix, Amazon and Hulu?
The rare revenue warnings from Apple suggested weaker-than-anticipated sales of iPhones and other gadgetry, in part because of trade frictions between Washington and Beijing.
The decision, announced on Thursday, comes 11 months after Apple CEO Tim Cook disclosed plans to open a major office outside California on the heels of a massive tax cut on overseas profits prompted Apple to bring about $250 billion back to the US.
The Silicon Valley stalwart's stock has surged more than 50,000 percent since its 1980 initial public offering, dwarfing the S&P 500's 2,000 percent increase during the same almost four decades.
Apple counts China as its third-largest region by sales, but has lost market share in recent years after it decided to remove hundreds of apps from its Chinese store under Beijing's cyber regulation rules.
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