In an ABC News exclusive interview, ABC business correspondent Rebecca Jarvis and Apple CEO Tim Cook talked about Apple’s plan to bring billions of dollars home to the U.S. thanks to the Tax Cuts and Jobs Act signed by President Trump at the close of 2017.
Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products.
[protected-iframe id=”c165cf0449e0ee1ca79b6bbe78272b31-17146794-18685410″ info=”https://abcnews.go.com/video/embed?id=52429982″ width=”590″ height=”332″ style=”border:none;” scrolling=”no”]
Direct link to video here.
MacDailyNews Take: This is certainly good publicity for Apple!
SEE ALSO:
Apple to build new U.S. campus, pay record $38 billion repatriation tax – January 18, 2018
Apple gives employees $2,500 bonuses after President Trump signed the GOP’s Tax Cuts and Jobs Act – January 17, 2018
Looks like Apple is bringing nearly all of its $250 billion foreign cash back home to America – January 17, 2018
Apple plans to add $350 billion to U.S. economy and create over 20,000 new jobs over next 5 years, pay $38 billion in repatriated taxes, the largest ever made – January 17, 2018
Stock market optimism from pros reaches highest level in nearly 32 years – January 17, 2018
Apple expected to issue less debt in 2018 now that President Trump has signed the Tax Cuts and Jobs Act – January 16, 2018
U.S Treasury: 90% of U.S. workers likely to see more money in take-home pay next month – January 13, 2018
U.S. sees strongest holiday sales since 2010 – January 12, 2018
Dow, S&P 500 and Nasdaq rocket to new all-time records – January 11, 2018
S&P 500 and Nasdaq rise to records on first trading day of 2018 – January 2, 2018
Apple makes Trump-friendly investment in Finisar – December 13, 2017
Apple is backing up iPhone X’s Face ID and AirPods with American jobs – December 13, 2017
How Apple and Finisar are transforming the future of Sherman, Texas – December 13, 2017
Apple awards $390 million to VCSEL-maker Finisar; award will create 500 high-skill jobs at Sherman, Texas facility – December 13, 2017
U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 2017
U.S. third-quarter GDP revised to three-year high of 3.3% – November 29, 2017
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017
Corning shares boosted by Apple’s $200 million investment – May 15, 2017
Apple’s billion-dollar advanced manufacturing investment is a blueprint for U.S. job growth – May 4, 2017
Apple to invest $1 billion to promote manufacturing jobs in the U.S. – May 4, 2017
Apple’s top manufacturing partner to meet with U.S. President Trump today – April 27, 2017
The Muslim Usurper: “Those jobs just aren’t coming back…does Trump have a magic wand?”
The 45th: “Abracadabra, bítch.”
Hell no!
Trump is corrupt as hell!
Tim, well, he’s a jackass. Today he says Apple will help the US if and only if the price is right.
Trump is corrupt LOLOLOLOLOLOL HAHAHAHAHA
Liberal morons have supported corruption so long that they think its normal and acceptable. Why else would they nominate the most corrupt, lying, thieving candidate in modern history?
Trump is corrupt? As compared to our other choice of Presidential Candidate? That’s a joke.
And Hillary helps only if there is money in it for her “Foundation” …er…bankroll.
Trump doesn’t need money. Is doing what Steve Jobs did and not even accepting a salary for his job (though Steve did take $1 as his salary).
That’s why we would have been better off with Sanders as the Democratic nominee instead of the DNC’s anointed princess.
But the CORRUPT Hilderbeast and the CORRUPT demoncratic party (spelled correctly) would not hear of it!
Exactly. The DNC establishment needs to go permanently and make way for the populist left.
Sanders is a nice guy but too much of a socialist for me.
The last that I checked, Apple has not shifted any jobs back into the U.S., botty. None. Just the overseas profits. And that part of the U.S. tax code should have been fixed many year ago, but to 25%, not 21%, as a starting point.
Like Trump and the GOP, you “trump”-et accomplishments that have not yet occurred while averting your vision to the likely negative consequences of accumulating a lot of additional debt over the next decade.
You are indeed the TAM of our generation. Enjoy the presidential colon while you can.
Melvin, go back to sleep.
You are right, it should have been fixed years ago, it wasn’t until now. Last time I checked, someone else was President for the eight years prior. Prior to that, Apple was valued at a tiny fraction of its current worth (I remember when Apple shares were sub-$40). Your initial statement, which is spot on, is destroyed by the troll logic that follows it.
“The last that I checked, Apple has not shifted any jobs back into the U.S.”
Correct. Apple’s HUGE announcement is not 24 hours old.
I guess you missed Cook’s announcement of bringing billions back to the U.S. because of Trump’s tax policy and creating 20,000 jobs with future construction of Spaceship2.
How clueless can you go? …
This in no way shows that the jobs in question are coming back. Those are still gone, and will become automated before they ever make it back here.
Obama (and Cook) we’re talking about next gen jobs, and jobs that don’t quite exist yet.
Tim Cook’s primary responsibility is to get Apple’s people to make GREAT products. And ship them. On time.
Everything else, is a distraction from that.
Think.
Is Apple currently producing category dominating products? If not, why not?
(Oh look, a squirrel… )
Patriotism has been portrayed in a negative light in the last few years. Hopefully this will be the start of new policies that are good for the country.
/s 😉
‘
“Patriotism is your conviction that this country is superior to all others because you were born in it. ”
George Bernard Shaw
No, patriotism is always respected. Trump’s brand of extrmist nationalism entwined with overt racism, ignorance of the greater world, and self-defeating trade restriction is against everything the Constitution stands for.
Only liberal morons think patriotism is negative.
And only conservative morons thing paying taxes is akin to theft.
Agreed. Unfortunately here on these forums there are a few blowhards who label everyone a liberal even when they are obviously moderates, independents, or fiscal conservatives.
This week the republican party honchos admitted they can’t figure out what Trump wants in the budget, or what priorities to push. They would all fail botty’s breibart acid test.
“The Muslim Usurper: “Those jobs just aren’t coming back”
It was Jobs who said those (iPhone) jobs aren’t coming back to the US.
“It was President Obama who, at the beginning of 2011, asked Steve Jobs what it would take to build iPhones in the United States. Why can’t that work come home, the president asked. Steve Jobs’ answer was unequivocal: “Those jobs aren’t coming back.” Nevertheless, in 2012 Tim Cook’s Apple committed to investing over $100 million to kickstart US manufacturing.”
The GOP seen to credit Trump for the sun coming up every morning.
you utter dolt…
WOW you are burnt!
““It was President Obama who, at the beginning of 2011, asked Steve Jobs what it would take to build iPhones in the United States. Why can’t that work come home, the president asked. Steve Jobs’ answer was unequivocal: “Those jobs aren’t coming back.” Nevertheless, in 2012 Tim Cook’s Apple committed to investing over $100 million to kickstart US manufacturing.””
https://www.theverge.com/2016/12/21/14037030/apple-made-in-america-failure
The video evidence of Commodore Mom Pants’s words is right in front of your eyes.
dolt.
Botty doesnt understand the difference between a speech and results. He never does post verifiable statistics of any kind.
Obama’s jobs record is publicly available for all to see. It showed constant slow growth for 8years. Not great, but definitely much better than most other countries. Could have been better if the obstructionist dysfunctional congress was not blocking all reform for the last 7years of his administration.
Well now we got the adrenaline boost that botty thinks corporations needed, let’s see if he’s too lazy to post for use BLS labor statistics for the next few years as we boomand inevitably crash. You all have said here for years that other tech company stocks are overinflated. Well get ready for the bubble to burst kiddos.
Every word Obama uttered is consistent with what Messiah Steve Jobs said too. Botty’s handlers onlypay him to demonize living democrats however.
Show me the jobs, botty. Show me the jobs.
By the way, I am the person who asserted years ago that some manufacturing/assembly jobs would return to the U.S. in the form of highly automated factories producing high value-added goods. That makes sense. Your mindless ranting is just noise.
“‘We want to help America,’”
But only after GOP America gave them and other corporations a massive tax cut.
Sigh…
Naïveté and ungratefulness at its best
I’m a good liberal and leftist. I’ll write the propaganda, “It was Obama who did it. It just took this long. Obama is a friend of Cook and they made thist happen.
Socialism works. Socialism has always worked. Socialism is compassionate, and its results are always smeared by right wing capitalists who hate the people.
Bottom line: Obama good. Trump bad. Socialism really good and Trump bad, bad, bad.
Ed,
You are in idiot. Please stop breeding and voting. You have already done too much damage to this county.
I believe he’s making a joke, not serious.
Proof positive that some people read labels only. Then they attack people who ask about details, or long term plans. The thugs who turned MDN into a Trump propaganda site are the worst offenders. All political hack, no data. Don’t expect botty to be able to respond with anything other than debate-losing bs.
I guess I’ll have to disagree with you to a point. I would put it: Obama, disappointing. Trump, really bad. Hillary, really bad. Sanders, really good. Gabbard, really good.
How is this actually good publicity for Apple? It’s not going to change Wall Street’s view of Apple and so far there are a few analysts already downgrading the stock. Wall Street will not praise Apple the way they praise any of the FANG stocks. Creating jobs doesn’t help shareholders or potential investors like increasing revenue and profits. That’s what Apple really needs to do. Make some worthwhile acquisitions and increase those dividends. Apple creating jobs might be great for America but I doubt it will be great for Apple stock gains. Amazon is the only FANG stock with more employees than Apple but yet it’s valued the highest. That isn’t going to happen with Apple. Apple will likely end up being valued less than it is now.
Wall Street usually has no praise for companies adding employee overhead and I’m sure Apple will be one of those companies. Good deeds never impress big investors. They’re only focused on greed and money being funneled into their own pockets.
You can’t get him on collusion, mental health, or economy/foreign policy.
I’ll give you credit on catching him saying a bad word that is on TV each night after 10pm., forgetting the video of Bill F’ing out his secret service daily.
Just what are the Democrats gonna run on??
Who is their leader? The toilet bowl is spinning.
Who is their leader?
looks like it might be The Blimp Pimp™ herself.
The Big O.
If they’re smart, they’ll nominate Tulsi Gabbard. She’s got Sanders’ populist agenda that’s so popular, and at the same time she checks off a lot of the identity politics boxes that establishment Democrats claim to obsess over.
But then again, if they were smart, they would have just nominated Sanders instead of foisting their anointed princess upon us.
Sanders is an avowed socialist.
Socialism is a failed ideology that has crushed the hopes and lives of millions of people worldwide since its inception.
I know, the instant George Washington convinced the contintental congress to fund the continental army, America has been a socialist mess. Botty thinks volunteer militias are way better because you know sharing the costs of society equally on everyone must be a bad thing. Right? Now let’s hurry up giving highways to private billionaire investors so they can become for-profit toll roads. Wouldn’t you libertarian retards like that better?
socialism |ˈsōSHəˌlizəm|
noun
a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Yeah, we see how miserably it’s failed in Scandinavia.
Don’t start your celebration too soon.
Collusion
By Bannon’s recollection, Donny Jr. did collude with DJT’s full knowledge. No surprise inept “i am not a politician” businessmen who don’t read or use any of the intelligence available to him would obviously not bother to think that hiring a russian to provide campaign intel would be ILLEGAL. The long arm of the law may be slow, but the noose will be well tied. Stay tuned.
Mental Health
Unsuitability for any elected office is proven with DJT’s every tweet. The turnstile of white house officials is spinning but going nowhere because DJT is too overwhelmed to set forth any plans for anything. Is there anyone who met DJT that didn’t call him an ill informed idiot or worse? Besides the five russian trolls here?
Economic policy
Short term stimulus, long term debt. You all bitched about federal debt under prior presidents, why isn’t a stable balanced budget important to you now? Hope you are well diversified when the bubble pops. America is now closer to an oligarchy than at any time since Hoover ignored the gap between rich and poor.
Foreign policy
Near disaster in N. Korea, Trump offloads responsibility to China. Spurning international free trade at every major speech while cheering on dictators. What a moron.
Democrats
Who cares? Another useless party with no new ideas. Still doesn’t explain why republicans can’t get anything done. 8 years of inaction on anything except one corporate welfare “tax reform” bill that didn’t simplify a damn thing for me or anyone in the middle class.
It’s a good thing that Apple want to help the stars and skidmarks nation, such good will is admirable. Too bad it’s jut helping with money when what they really need is an attitude adjustment. Their bellies may be full but their spirits are empty.
A liberal said, “We want to help America”. Isn’t that blasphemy in the liberal circles?
Our American President said that America is his priority and the liberals hate him for it. How could he be so evil to make America his priority?
What we hate him for is lying and claiming that America is his priority, when clearly his priority is himself. Which, incidentally, is the same reason many of us on the left also hate Hillary, whose priority is, likewise, herself. That’s why we supported Sanders, because America really was his priority.
In other words, a year ago, Pipeline didn’t ‘want to help America’ under that previous fool. Now, under Trump, he ‘wants to help America’.
Now thats funny.
TRUMP!
Do you honestly believe that all corporate decisions are made only through personal request of the effing president? Apple spent how many billion dollars on a donut office in California under Obama but that didn’t help the economy? Boeing spent how many billions on its new airplane programs while Obama was president? GM and Ford launched how many award winning car projects in the last 8 years? How many trillions of dollars did the natural gas boom earn for petro companies? Best of all, strict but affordable lending allowed small town renewals to take off since 2010, from a surge in microbreweries to warehouse districts rebuilding themselves into small business mecas. Take your blinders off people. The world didn’t change overnight. Economic progress has been happening for years.