Apple Inc. NASDAQ:AAPL is set to open the first retail store in the Middle East next year. The store, which will be in the city of Dubai, will also be the world’s largest store.
Apple plans to expand retail presence
The store will actually be located inside the Mall of the Emirates, a large shopping center that boasts 700 retail stores and an indoor ski resort. Apple will take over an empty space that used to belong to a cinema.
Here are all the ideas presented at the 2020 Robin Hood Investors Conference
As usual, the Robin Hood Investors Conference has brought several new investment ideas from some of the top minds in the wealth management business. Investors heard from Sachem Head's Barnes Hauptfuhrer, One Tusk Investment Partners' Vivian Lau, Lone Pine's Mala Gaonkar, Lakewood Capital's Anthony Bozza, CAS Investment Partners' Clifford Sosin, Teca Capital's Fernando Vigil and Read More
The company’s chief executive officer Tim Cook recently spotted in the United Arab Emirates earlier this year. Even even met UAE’s Prime Minister Shaikh Mohammad bin Rashid Al Maktoum in Abu Dhabi. He later spoke to Mohammad Abdullah Al Gergawi in Dubai. He even visited a number of Apple resellers.
Three years ago, Apple opened up an online retail store but it still lacks a strong retail presence.
Apple flourishes even in retail decline
Despite a decline in overall retail revenues, Apple is one company that still manages to flourish. Charlie Wolf, analyst for Needham & Co, claimed the iPhone make overcame odds with the initial goal to boost Mac computer sales. And it continues to work even 13 years after Apple owned the first store.
2014 may shape up to be a big year for Apple. Not only is the company rumored to release two versions of the iPhone 6 including a purported phablet, but there is a lot of speculation the company will release the iWatch. The smartwatch is the latest gadget to keep an eye on. The smartwatch was not designed to replace smartphones but rather work in conjunction with them. With Apple’s new health and fitness-oriented features that are part of iOS 8, it wouldn’t be too surprising to see how that all could work with a smartwatch.