Apple to invest US$500 billion in US over four years, hire 20,000 employees

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Apple said on Monday (Feb 24) that it will spend more than US$500 billion in the United States over the next four years and hire 20,000 employees, an announcement likely to please President Donald Trump who has pushed US companies to shift manufacturing home.

“Apple today announced its largest-ever spend commitment, with plans to spend and invest more than US$500 billion in the US over the next four years,” the Silicon Valley-based tech giant said in a statement.
Apple’s CEO Tim Cook said: “We are bullish on the future of American innovation, and we’re proud to build on our long-standing US investments with this US$500 billion commitment to our country’s future.”

The figure includes everything from purchases from US suppliers to US filming of television shows and movies for its Apple TV+ service.

The company declined to say how much of the figure it was already planning to spend with its existing US supply base, which includes firms such as Corning, which makes glass for iPhones in Kentucky.

An Apple Manufacturing Academy in Detroit is also on the cards to “help companies transition to advanced manufacturing”.

Monday’s announcement comes days after Trump said that Apple plans to invest “hundreds of billions of dollars” in the United States as he trumpeted the success of his tariff plan in boosting the American economy.

Source: CNA

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