Apple said Monday that it would “spend and invest” $ 500 billion to the American economy-a action that comes while the technology giant led by Tim Cook seems to avoid the influence of President Trump’s tariffs.
Cupertino -based company, Calif. The company will hire 20,000 new employees and build a new manufacturing structure in Houston that will build servers to empower the features of the equipment like the iPhone.
“We are bullies for the future of American innovation, and we are proud to build our long US investments,” Cook said in a statement.
In addition to Houston’s facility, Apple said it will build an Academy in Detroit “to train the next generation of American manufacturers”, increase investment in research and development -based projects and double the “advanced production fund” in $ 10 billion.
The company will expand the capacity of the North Carolina Data Center, Iowa, Oregon, Arizona and Nevada.
Apple’s shares were flat in early trade after notice.
Trump has suggested that Apple is looking for some kind of exclusion from his tariff plans.
Following a meeting with Cook at the White House last week, the president said Apple’s CEO had “stopped two plants in Mexico” and moved her plans to SH.BA -based facilities because “they don’t want to be in tariffs . ”
Trump recently set an additional 10% fee for all products imported from China, where Apple produces most of its iPhones and other products. The president has also teared the possibility of a 25% “and higher fee” in computer chips used on smartphones, laptops and more.
Apple did not say how many of that $ 500 billion figure had planned to spend. In 2021, the company announced it will spend $ 430 billion within the US for half decades. She made a similar announcement in 2018 during Trump’s first term in office.
Gil Luria, a Da Davidson analyst, said it was “unclear whether this notice represents an expenditure acceleration.”
“This promise represents a political gesture to the Trump administration,” Luria added.
Apple’s latest actions are a “smart strategic action at the right time,” according to analyst Wedbush Dan Iva, who maintained his “best” rating for company shares.
“Cook continues to prove that he is 10% politician and 90% CEO and times like this he will use his strong links globally to ensure his softer waters for Cupertino forward, despite market agita about initiatives Increasing AAPL with Trump going down the threat’s way fee, “Iva said in a note to clients.
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