Summary
Apple plans to invest an additional $100 billion in U.S. manufacturing over the next four years. This investment aims to bring more of Apple's supply chain and production to the United States, although it does not mean iPhones will be entirely made in the U.S. right now. This announcement follows ongoing discussions between Apple and the U.S. government regarding trade and manufacturing policies.
Key Facts
- Apple CEO Tim Cook and President Donald Trump announced the investment at the White House.
- The investment is part of the American Manufacturing Program, which focuses on increasing U.S. production.
- Apple will work with 10 U.S. companies, including Corning and Texas Instruments, to make components for Apple products.
- The new investment raises Apple's total domestic investment plan from $500 billion to $600 billion.
- Apple previously faced criticism from Trump over plans to move some production to India.
- The announcement caused Apple’s stock price to increase by nearly 6%.
- Apple had also recently agreed on a $500 million deal with MP Materials to expand a factory in Texas.
