Apple Inc (NASDAQ:AAPL, ETR:APC) shares jumped almost 6% on reports that the company will announce an additional $100 billion in US manufacturing commitments this afternoon. This latest move to ramp up its domestic production and avoid potential tariffs will bring Apple's total planned investment in the US over the next four years to $600.
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Light on details, the iPhone-maker's pledge is seen by the market as a way to avoid tariff impact.
While Apple is unlikely to start making iPhones in the U.S., investors seem to think that increased manufacturing commitments more generally could help secure better tariff treatment.
Exciting days are ahead for Apple (NASDAQ: AAPL), as the company gears up for a new $100 billion investment in U.S. manufacturing in an attempt to ramp up domestic production and sidestep potential tariffs.
Apple will commit another $100 billion toward domestic manufacturing on Wednesday – a move that comes as the Trump administration slaps steep tariffs on India.
The pledge was a “significant acceleration” of the company's plan for more production in the United States, according to a White House statement.
Trump is scheduled to announce details of Apple's investment at 4:30 p.m. EDT, according to CNBC.
Apple plans to increase its commitment to U.S. manufacturing, according to a White House official cited and first reported by Reuters.
Apple (NASDAQ: AAPL) is underperforming the S&P 500 as it lags major peers in AI development, with no significant AI features expected in upcoming iOS updates until next year.
The White House said Apple will announce an additional $100 billion investment in American facilities, to support jobs and domestic manufacturing under Trump's economic agenda.
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