Apple's $100 Billion Commitment to Boost US Manufacturing with Trump Support

Apple CEO Tim Cook, alongside President Trump, announced a commitment to invest $100 billion into US manufacturing over the next four years. This move aims to enhance the American Manufacturing Programme and is seen as a response to criticisms regarding Apple's previous overseas production shift.

In a significant move for US manufacturing, Apple CEO Tim Cook and President Donald Trump jointly announced that the tech giant plans to invest an additional $100 billion into the American Manufacturing Programme over the next four years. This initiative, however, stops short of fully domesticating iPhone production.

Speaking at a press conference, Trump touted the investment as an example of a historic trend in economic growth. Tim Cook outlined plans to work with American companies, including Corning, Coherent, and Broadcom, to strengthen Apple's supply chain domestically, emphasizing a collaborative approach to advanced manufacturing.

Recent efforts, such as a deal with MP Materials, illustrate Apple's commitment to expanding its US operations. Despite market fluctuations, this announcement led to a 5% surge in Apple's stock, signaling investor optimism about the company's alignment with governmental priorities under Trump's administration.

(With inputs from agencies.)