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Apple To Open 40 Stores In 2008

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Apple CFO Peter Oppenheimer said Monday the company plans to open 40 new stores over the coming year, including its first China outlet. During Apple's earnings conference call (full transcript later today), Oppenheimer noted the company opened 12 stores during the current quarter, and now operates 197 stores, which were responsible for $1.25 billion of Apple's $6.22 billion in quarterly revenue. COO Tim Cook said during the call Apple expects continued low memory prices over the coming quarter, a factor Cook noted was in part responsible for Apple's improving gross margins: "As you know, DRAM and NAND flash were favorable last quarter, and we believe that will continue in our Q1," he said.

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