Apple To Open New Stores In Dubai & Abu Dhabi 29 October
$AAPL
The new Apple stores will be located in Dubai’s Mall of the Emirates and Abu Dhabi’s Yas Mall
After months of speculation, Apple has announced that it will open its 1st stores in the United Arab Emirates (UAE) this month.
In a statement, Apple confirmed that the stores will be located in Mall of the Emirates in Dubai and Yas Mall in Abu Dhabi.The stores will be Apple’s 1st in the Middle East.
They are both set to open their doors on Thursday, 29 October. The Dubai store’s launch will take place at 4.00p, while the Abu Dhabi store will have its Grand Opening at 7.00p, Apple said.
Store timings have also been revealed: they will remain open from 10.00a to 10.00p from Monday-Wednesday and from 10.00a to 11.59p from Thursday-Saturday.
Apple, which launched its latest smartphones is rapidly looking to increase its market share in the UAE. According to IDC, Apple’s share of the smartphone market in the country increased from 11% in Q-3 of Y 2014 to 18% in Q-2 of Y 2015.
Since the visit of Apple CEO Tim Cook to the UAE in February last year, rumors of a new Apple store began doing the rounds. The US-based company also confirmed plans to establish a physical presence in the country, but did not disclose further details.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NASDAQ:AAPL | 111.86 | 15 Oct-2015 | 1.65 | 110.93 | 112.1 | 110.49 | 37,610,200 |
| HeffX-LTN Analysis for AAPL: | Overall | Short | Intermediate | Long |
| Neutral (-0.07) | Neutral (0.02) | Neutral (-0.04) | Neutral (-0.18) |
By Aarti Nagraj
Paul Ebeling, Editor
HeffX-LTN
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