Market Overview

McDonald's, Apple Further Delay Reopening Due To Coronavirus Cases Spike

McDonald's, Apple Further Delay Reopening Due To Coronavirus Cases Spike

McDonald’s Corp (NYSE: MCD) and Apple Inc (NASDAQ: AAPL) store reopenings in the United States will come to a halt as coronavirus cases surge across states.

What Happened

McDonald’s is putting a brake on reopening stores in the U.S. as multiple states such as Michigan, Colorado, and Florida suspend efforts to reopen their economies due to escalating COVID-19 infections.

As of mid-June, nearly 1,000 out of 14,000 McDonald’s locations are functional with seating restrictions.

Reopened franchisees can decide to continue operations depending on instructions from local authorities.

Apple will re-close stores in California, Alabama, Georgia, Idaho, Louisiana, Nevada, and Oklahoma in addition to the ones already closed in Florida, Mississippi, Texas and Utah, reported Reuters.

Why It Matters

McDonald’s drive-thru lanes, takeaway, and its delivery service are currently operational, according to the company website.

The reopened McDonald’s locations are carrying out deep cleaning, and employees are following health and safety measures related to coronavirus prevention.

Apple Stores that are open for business have limited occupancy and require face coverings and temperature checks.

On Tuesday, COVID-19 cases rose by 47,000, the biggest single-day increase in numbers since the beginning of the pandemic. The worst-hit states include California, Florida, Georgia, and South Carolina.

As on Thursday, at press time, the U.S. had 2,683,894 confirmed COVID-19 cases with 128,044 fatalities, according to the Johns Hopkins Coronavirus Resource Center.

Price Action

McDonald’s shares traded 0.74% lower at $183.30 in the after-hours session on Wednesday. The shares had closed the regular session 0.15% higher at $184.66.

On Wednesday, Apple shares closed 0.19% lower at $364.11.


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