Published: Thu, May 04, 2017
Markets | By Terence Owen

Apple will invest $1 billion in United States manufacturing efforts

Apple will invest $1 billion in United States manufacturing efforts

He said Apple has already talked to a company in which it wishes to invest. Cook announced a $1 billion investment in advanced manufacturing jobs that will be announced in May or June. Cook's reply:"It's $1 billion of our USA money, which we have to borrow to get, that's another whole topic".

Apple (AAPL) revealed to TheStreet's Jim Cramer on Wednesday that the tech giant is planning to spend big to boost manufacturing in the USA, following the lead of some other major corporations such as Toyota (TM). How do we grow our employee base? Apple CEO Tim Cook and CFO Luca Maestri spoke with analysts during the company's Q2 2017 earnings call.

"You can bet we're going to be hiring thousands of employees in the future, thousands more employees in the future", Cook said.

Apple investing in high-tech manufacturing in the United States would come as rare common ground with US President Donald Trump, who hammered away at the theme during his campaign for office previous year. How do we grow the developer base? "And so you can see, we're really looking at this thing deeply".

Cook then went to say that Apple would have to borrow the money in order to fund the United States scheme. And how do we grow manufacturing? The announcement was accompanied by a new "job creation" page on Apple's site, which highlights the 2,000,000 jobs Apple directly and indirectly supports in the United States.

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President Trump specifically called out Apple and Cook both on the campaign trail and in an interview with the New York Times shortly after he was elected.

Trump has proposed slashing corporate tax rates in a way that encourages businesses to bring some of those foreign-held funds back to the United States.

The CEO's comments came as a response to questions on Apple's recent efforts into pushing health and fitness.

He said Apple has to borrow money to invest in the United States because it is a global company that could be forced to pay a more than 35 percent USA tax on money earned in the global marketplace. "If you don't show up, I think that's the worst scenario, because then you're quiet".

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