Apple Stock News
For the latest Apple Stock News, AAPL closed at $117.34 on Wednesday, October 12th, with a 0.89% gain, or $1.04 from its previous close of $116.30 per share.
Apple is continuing to look abroad. After opening Apple’s first iOS Developer Academy in the University of Naples Federico II in Naples, Italy, on October 6, 2016, CEO Tim Cook traveled to Asia. Upon arriving in China, Apple announced a new research and development (R&D) facility to be built in the city of Shenzhen. With this addition, China will have two Apple R&D buildings in Beijing and Shenzhen by the end the year 2017. So, what it is the significance of Shenzhen? Why does Apple need another R&D facility in China?
Apple sees the investment necessary in the heart of the manufacturing city. Mr. Cook believes a facility close to the manufacturing plants will bring closer collaboration. As a result, this could lead to further improvements in the product. The new research and development facility will focus in hardware and software development. Some speculate this move as a means to earn more market share. Unfortunately, Apple’s iPhone is decreasing in market share due to its local competitors: Huawei and ZTE. Maybe this decision could attract buyers as more local talent are hired and another Apple store will be open in the city.
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