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Apple Temporarily Shuts Down All Stores In California

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Apple Inc (NASDAQ: AAPL) has announced it is shutting down all 53 retail stores in California due to the increasing numbers of cases in the state.

What Happened: This is the second time the tech giant has closed its stores in the state. It closed them in March in the first wave of lockdowns in the country.

“Due to current COVID-19 conditions in some of the communities we serve, we are temporarily closing stores in these areas. We take this step with an abundance of caution as we closely monitor the situation and we look forward to having our teams and customers back as soon as possible,” Apple said in a statement to CNBC.

Customers can still pick up their orders and get repairs over the next few days, the company said.

Why It Matters: The decision was made after state officials warned about the hospitals being at nearly full capacity in Los Angeles and a possible worsening of the situation, according to the Los Angeles Times.

California currently has 37,358 cases, according to the New York Times coronavirus data board, while there are 193,947 cases overall in the country, according to the data published Saturday.

Price Action: Apple shares closed at $126.66 on Friday and traded at $127.31, with a 0.52% gain in the postmarket trading session.

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