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Financial News Network
October 19, 2011 AT 4:15 PM
The Wall Street Journal reports that Apple (NASDAQ:AAPL) plans to close some of its retail stores for at least an hour on Wednesday, according to two individuals familiar with the matter.Employees of the retail store were informed that a private company event was scheduled and that retail stores will temporarily close during that time.Apple has not informed retail employees why it plans to temporarily close the stores during normal working hours, although these people note that such closings rarely happen for events other than special product launches.Apple (NASDAQ:AAPL) has potential upside of 20.8% based on a current price of $420.74 and an average consensus analyst price target of $508.33.