“Apple stock was trending higher early Monday, recovering a bit from last week’s price drop (although shares finished lower Monday),” Kat McKerrow writes for TheStreet. “Monday morning’s boost came courtesy of news out of India that moves the company closer to opening Apple Stores in the country. And the ramifications for profits are huge.”
“Without a doubt, China is an uncertain prospect for Apple. Therefore, the company needs the Indian market to tap into the vast opportunities in Asia,” McKerrow writes. “Monday’s Indian development opens the gate for a closer relationship with Apple. The company will now be allowed to reapply to open its shops in the country. In return, Apple is likely to expand plans for software development and possibly even hardware manufacturing in the company.
McKerrow writes, “India should prove a lucrative partner for Apple. In return, Apple shareholders will have opportunities to profit from this growth.”
Read more in the full article here.
MacDailyNews Take: Hopefully, the approval process moves along quickly now and Apple can begin to rollout company-owned retail stores in India ASAP. Apple should continue to lobby the Indian government to allow quality Apple Certified refurbished iPhones to be sold in the country. That would allow more India citizens to be able to get the world’s most advanced and most secure smartphones.