Apple to close some stores in states where virus cases are rising: Author – Financial Times

Ars Technica

NEW YORK, June 17, 2020  -- Staff workers serve customers outside an Apple store on Fifth Avenue of New York City, the United States, June 17, 2020.

Enlarge / NEW YORK, June 17, 2020 — Staff workers serve customers outside an Apple store on Fifth Avenue of New York City, the United States, June 17, 2020. (credit: Xinhua News Agency | Getty Images)

Apple says it will again close almost a dozen stores in the US because of a recent rise in coronavirus infections in the south and west, reversing its recent move to begin reopening stores as states start to ease lockdowns.

The move sent US stocks lower, as investors feared that Apple’s caution could signal wider apprehension among businesses about whether it is safe to begin reopening the US economy.

Apple shares turned negative on the news, dropping 1.4 percent, while the entire S&P 500 index shed its gains from the morning. Apple stock remains near a record high, however, with investors valuing the group above $1.5 trillion—about $220 billion more than at the start of the year.

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