Apple to Close Stores for Jobs Memorial


People pass by the face of Apple co-founder and former CEO Steve Jobs created with adhesive notes displayed on the window of an Apple Store in Munich on October 18, 2011.

Tomorrow morning might not be a good time to pick up a new iPhone. Several Apple employees say retail stores will close while the company holds a memorial for Steve Jobs. The ceremony will be held from 10 to 11:30 a.m. in an outdoor amphitheater at Apple's headquarters in Cupertino, Calif., and broadcast to stores across the country, an Apple employee tells Reuters. Meanwhile, Apple missed its earnings mark. The company expected to have $29.5 billion in revenue in the third quarter, but received only $28.3 billion. In afterhours trading the stock plummeted, down nearly 8 percent. And worst of all, iPhone sales were 3 million short of the forecast of 20 million units.