BREAKING NEWS: Apple Inc (NASDAQ:AAPL), opened its first retail stores in the Arab

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During Thursday’s afternoon trade, Shares of Apple Inc (NASDAQ:AAPL), gained 0.28% to $119.62. The firm opened its current trade at $118.70, and as of now, it is trading at $119.59. The total volume traded for the day is 21.84M shares, as compared to its average daily volume of 52.87M shares. The stock is floating in a range of $118.27 $119.70. The stocks hold the market capitalization of $670.60B.

Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $148.76, according to 42 brokers. The higher price target for AAPL is $200.00, while the lower price target is $85.00. In the past 52-weeks, the company shares have gained 11.51% and marked new high $134.54 on Apr 28, 2015. According to news report, Apple opened its first retail stores in the Arab world on Thursday in the luxury malls of the United Arab Emirates, hoping to sell wealthy consumers on their new high-end smartwatches. Apples two new stores, at Dubais Mall of the Emirates and Abu Dhabis Yas Mall, find themselves alongside other global luxury brands like Emporio Armani, Fendi and Burberry. And thats no accident, industry watchers say, as Apple wants to give wealthy consumers hands-on experience with its new Apple Watch line, with some of the high-tech timepieces costing as much as $17,000. The Apple stores in the Emirates have the sleek, modern look of many of the companys other 464 retail shops around the world. At the Mall of the Emirates, 60-foot (18-meter) glass panels open up into a showroom with ficus trees and a skylight. The Apple Watch is displayed prominently.

In February 2014, Apple CEO Tim Cook visited Dubai and met with its ruler, Sheikh Mohammed bin Rashid Al Maktoum. While specifics of their negotiation werent released, Cook later visited Dubai Mall, raising speculation that Apple would enter a market already home to high-end retail spaces and deep-pocketed consumers.

Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide.

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