Apple (AAPL) - Get Report is reopening at least some of its retail stores in China as restrictions limiting movement and activity of people and businesses ease, but it's a drop in the proverbial bucket in terms of the iPhone maker resuming 'back to normal' operations.
Citing a review of Apple’s retail websites, Bloomberg reported on Tuesday that Apple has reopened more than half of its previously shuttered retail stores in China, trying to rebound from a sales hit tied to the coronavirus outbreak.
As of Monday, 29 of 42 Apple stores in the country were open, albeit with shortened operating hours.
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What is not yet back up and running is Apple's manufacturing capabilities, specifically at its largest manufacturing partner Foxconn, which has yet to resume full production ability following the closure of its manufacturing plants following the Chinese lunar new year.
Analysts and investors have already predicted a slowdown in Apple’s China-dependent supply chain, as factories that produce both iPhones as well as parts for them have been shuttered since January in the wake of the outbreak, and have yet to return to full capacity.
That, in turn, is expected to impact Apple and many other companies that rely on China’s massive proverbial manufacturing machine to make their goods, and on its massive population to buy their goods and services.
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