“There wasn’t a lot of talk about technology in President Trump’s first State of the Union speech Tuesday night, but he did take time to highlight Apple, citing its announcement earlier this month that it will invest $350 billion in the United States,” Hayley Tsukayama writes for The Washington Post. “Trump raised it as a crucial example of how the Republican tax cuts passed last year directly benefit the U.S. economy.”

“‘Since we passed tax cuts, roughly 3 million workers have already gotten tax cut bonuses — many of them thousands and thousands of dollars per worker — and it’s getting to be more every month, every week. Apple has just announced it plans to invest a total of $350 billion in America and hire another 20,000 workers,’ Trump said,” Tsukayama writes.

Apple CEO Tim Cook and U.S. President Donald Trump at tech summit in June

Apple CEO Tim Cook and U.S. President Donald Trump at tech summit in June 2017

“Apple announced a five-year investment plan — which includes a new corporate campus — shortly after the new law passed. But it has not detailed which investments are directly linked to the tax cuts, apart from the $38 billion tax it will pay to repatriate its overseas profits.”

“Apple has given indications that the tax changes inspired a portion of its U.S. spending and investment goals, but not necessarily all of it,” Tsukayama writes. “Apple chief executive Tim Cook said in an interview with ABC News earlier this month that, ‘there are large parts of this that are a result of the tax reform, and there’s large parts of this that we would have done in any situation.’ Cook also told CNBC’s Jim Cramer earlier this month that the tax code changes created a better environment for Apple to execute its plans.”

Read more in the full article here.

MacDailyNews Take: It’s nice to hear Apple highlighted during the State of the Union.

SEE ALSO:
Joining Apple, Walmart and others, Starbucks to boost pay, benefits after U.S. lowers corporate taxes – January 26, 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