Apple this week announced a new $100 billion commitment to America, a significant acceleration of its U.S. investment that now totals $600 billion over the next four years. Today’s announcement includes the ambitious new American Manufacturing Program (AMP), dedicated to bringing even more of Apple’s supply chain and advanced manufacturing to the U.S. Through AMP, Apple will increase its investment across America and incentivize global companies to manufacture even more critical components in the United States.
“Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program,” said Tim Cook, Apple’s CEO, in a statement. “This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we’re grateful to the President for his support.”
CNBC’s Jim Cramer on Thursday reflected on Apple’s stock moves after the iPhone maker’s deal with President Donald Trump shocked Wall Street. He suggested the development is a “remarkable turn” for Apple and the market.
“The pin action from the Apple deal with the White House reverberated through almost all of tech, making it a terrific sector to own,” Cramer said…
The announcements boosted the Nasdaq Composite on Thursday, with the tech-heavy index closing up 0.35% even as the other major indexes closed in the red.
Apple stock jumped 6.78%, and the company recouped some of the steep losses it suffered after Trump declared tariffs in April.
Cramer emphasized the magnitude of Trump’s announcement. It now seems Apple’s tariff burden has been lifted, he said, just a few months after the president insisted it would have to pay a 25% tariff on iPhones made anywhere outside the U.S. Cramer wondered what the news means for Apple competitors like Samsung, speculating on whether the company would be subject to a 100% duty or the 15% rate negotiated by South Korea.
Cramer repeated that he believes Apple is a reliable long-term investment, saying the company “always seems to get it right in the end… You need to think about the last 24 hours… and where this Apple stock has come from,” he said. “You need to know that this is why I say own Apple, don’t trade it.””
MacDailyNews Take: The next major ratchets up for Apple will be when a U.S.-China trade deal is reached and, then, when greatly improved Siri – AI-powered – is released to the public.
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I have mixed feelings about this. I want my devices to have a big ‘ol “Made In USA” label, preferably from a factory here in Minnesota, but he’s dealing with a homophobe, transphobe racist who allowed someone that hates autistic people to run the department of health and human services! I hope Cookie Monster here can slap some sense into Trump with this deal, American devices only if he becomes nicer to those on the spectrum.
If only you added, “Orange Man Bad,” or “drumpf” would I have read your post with more credibility. Spectrum, or Syndrome…6 of 1, half-dozen of the other?
And “raycist” continues to be a barb thrown when black/latino allegiance (towards Trump) is a record levels and DJT levels consequences on certain Ivy Schools for carelessness of Jewish scorn/injury.
President Trump nominated, and got confirmed, the highest-ranking LGBTQ official in American history, bless your heart.
https://thehill.com/homenews/administration/5109726-treasury-secretary-scott-bessent/amp/
That’s not a good thing.
A well played hand by Tim Cook….
I’ll believe it when I see the agreement signed, sealed and delivered. If there isn’t a contract, it’s just a bunch of words meant to appease.