Alex Bobrov
On February 15th, the first retail store was opened by Apple in Latin America. Still, the event was spoiled by high prices on local products.
In particular, Brazil became the world's 15th country where Apple opened a retail store. All in all, there are over 50 million users of mobile devices in Brazil, and that is why Apple chose the country as the next target.
Still, it should be noted that the demand for iPhones is not that high since they are sold at the highest price in the entire world. In particular iPhone 5S 16Gb neverlock costs 2800 reals or $1174. For comparison sake, the same device costs only $649 in the USA, $872 in China and $850 in Russia. The Brazilian partners of Apple increased the prices on 17% on average.
Meanwhile, the news doesn't seem to affect the price of Apple's stock since ti is currently recovering from the recent decline seen in January. At this point, the price is around $543,99 per share. The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of AAPL:
Alex Bobrov
