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    AAPL   US0378331005

APPLE INC.

(AAPL)
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Apple : Tower Theatre Opens Thursday in Downtown Los Angeles

06/22/2021 | 01:01pm EDT

Historic theater has premiered new technology since 1927

Apple® today previewed its newest retail location at the historic Tower Theatre in downtown Los Angeles. One of Apple’s most significant restoration projects to date, Apple Tower Theatre aims to inspire even more creativity in the heart of downtown. Apple will also launch Today at Apple Creative Studios, a global initiative that will provide hands-on experience and mentorship to young creatives, kicking off with the opening of the new store in Los Angeles.

Apple Tower Theatre is Apple’s 26th location in greater Los Angeles. The store’s nearly 100 talented retail team members join more than 3,000 Apple Store employees across the region. Also based in Los Angeles, Apple TV+℠ works with many of the world’s most creative storytellers and supports thousands of jobs in the creative industry across California.

“At every corner, Los Angeles bursts with creativity across the arts, music, and entertainment, and we are thrilled to build on our relationship with this special city,” said Deirdre O’Brien, Apple’s senior vice president of Retail + People. “Apple Tower Theatre honors the rich history and legacy of this entertainment capital.”

A Building Steeped in History

Originally home to the first theater in Los Angeles wired for film with sound, the historic Tower Theatre was designed in 1927 by renowned motion-picture theater architect S. Charles Lee. That legacy of technological innovation continues today as the perfect venue to discover Apple’s full line of iPhone, iPad and Mac, each of which has transformed modern-day filmmaking, photography, and music composition.

Upon the closing of its doors in 1988, the space has lain empty and unused. With the same level of care found in previous restoration projects, Apple collaborated with leading preservationists, restoration artists, and the City of Los Angeles to thoughtfully preserve and restore the theater’s beauty and grandeur. Every surface was carefully refinished, and the building has undergone a full seismic upgrade.

Apple Tower Theatre anchors the corner of Eighth Street and Broadway, where visitors will immediately recognize the fully restored clock tower, recreated Broadway marquee, clean terra cotta exterior, and renovated historic blade sign. After walking through the Broadway doors, guests enter the monumental lobby inspired by Charles Garnier’s Paris Opera house, featuring a grand arched stairway with bronze handrails flanked by marble Corinthian columns.

In the heart of the store is the Forum and signature video wall, sitting underneath the fully restored arch and surrounded by the theater’s original balconies. The Forum will be home to Today at Apple®, where free daily sessions led by Apple team members and members of the local creative community provide inspiration and teach practical skills. The expansive auditorium, surrounded by embellished arched bays and restored bronze, displays all of customers’ favorite products, including the all-new iMac®, iPad Pro®, and Apple TV 4K®.

Visitors looking for service and support from Apple team members have ample space, as the theater’s original seating on the upper level has been modernized and made accessible to create an open, flexible space for Genius Bar® appointments. Two new elevators have been installed in the theater, welcoming all customers to every level of the new store.

Today at Apple Creative Studios

Today at Apple Creative Studios - LA kicks off a global initiative for underrepresented young creatives as part of the ongoing Today at Apple programming offered in Apple Store locations worldwide. In collaboration with the nonprofit Music Forward Foundation, as well as Inner-City Arts and the Social Justice Learning Institute, Creative Studios LA will provide access to technology, creative resources, and hands-on experience, along with a platform to elevate and amplify up-and-coming talents’ stories over nine weeks of free programming.

Today at Apple will also offer public in-store sessions at Tower Theatre and virtual sessions hosted by Creative Studios teaching artists and mentors, including photographer and filmmaker Bethany Mollenkof, rapper and producer D Smoke, singer-songwriter Syd, and cellist and singer Kelsey Lu. Noah Humes and his mentor, Maurice Harris, two artists who worked on the mural outside Tower Theatre inspired by the spirit of Creative Studios LA, will also teach a virtual session. Everyone is welcome to register at apple.com/creative-studios-la.

Apple Tower Theatre Opens Thursday at 10 a.m.

The store team will welcome its first customers Thursday, June 24, at 10 a.m. Apple Tower Theatre will be open from 10 a.m. to 8 p.m. from Monday to Saturday, and 10 a.m. to 7 p.m. on Sunday, with team members ready to provide support and service to all visitors. For those wishing to order new products online, customers can get shopping help from Apple Specialists, choose monthly financing options, trade in eligible devices, receive Support services, and elect for no-contact delivery or Apple Store® pickup.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or call Apple’s Media Helpline at (408) 974-2042.

© 2021 Apple Inc. All rights reserved. Apple, Apple TV+, Today at Apple, iMac, iPad Pro, Apple TV 4K, Genius Bar, Apple Store, and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.


ę Business Wire 2021
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Financials (USD)
Sales 2021 366 B - -
Net income 2021 93 520 M - -
Net cash 2021 78 467 M - -
P/E ratio 2021 26,4x
Yield 2021 0,58%
Capitalization 2 431 B 2 431 B -
EV / Sales 2021 6,43x
EV / Sales 2022 6,21x
Nbr of Employees 147 000
Free-Float 99,0%
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Mean consensus OUTPERFORM
Number of Analysts 46
Last Close Price 147,06 $
Average target price 163,16 $
Spread / Average Target 11,0%
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Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
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