Apple (AAPL) CEO Tim Cook joined President Donald Trump at the White House Wednesday to announce a $100 billion investment in U.S. manufacturing.
Major U.S. equities indexes pushed higher in the midweek trading session, bolstered by strength in the tech sector following reports that Apple (AAPL) was preparing to announce major investments in domestic manufacturing.
“Today's announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America's economic and national security,” White House spokesperson Taylor Rogers told Forbes in a statement.
The 'Fast Money' traders react to Apple announcing Corning partnership.
Apple on Wednesday announced it will spend an additional $100 billion on U.S. companies and suppliers over the next four years. The company said it would spend $2.5 billion to fund a major expansion with Corning, which makes glass for iPhones in Kentucky.
Amid tariffs, Apple is expected to announce shifting more of its supply chain to domestic assembly, at a White House event.
Tech shares were aided by reports of a $100 billion U.S. manufacturing pledge from the iPhone maker. Nasdaq rose 1.2%, while the S&P 500 gained 0.7% and the Dow industrials added 0.2%.
The White House says Apple will commit to spending another $100 billion on domestic manufacturing — the iPhone maker's latest move to avoid punishing tariffs. Bloomberg's Tom Giles explains what this announcement means and what is still unknown on “Bloomberg Tech.
MSFT, AAPL and MA stand out as the top picks with solid historical earnings and rising estimate revisions this quarter.
Apple (AAPL) CEO Tim Cook is expected to join President Donald Trump at the White House later Wednesday to unveil a $100 billion pledge from the iPhone maker in U.S. manufacturing, according to a White House official.
Apple shares climbed ahead of an Oval Office event where the company will announce plans to spend and invest more in the U.S. CEO Tim Cook will join President Donald Trump for the event.
Amid tariffs, Apple is expected to announce shifting more of its supply chain to domestic assembly, at a White House event.