Apple Boosts US Investment Amid Trump Tensions

Apple CEO Tim Cook is set to reveal a significant increase in the company's investment in US manufacturing, up by USD 100 billion. This move follows Trump's critique on Apple's overseas production. The initiative involves working with several American companies to boost domestic manufacturing but stops short of US-based iPhone assembly.

Apple's commitment to enhance its US manufacturing investment by an additional USD 100 billion was announced by CEO Tim Cook alongside President Donald Trump at the White House. The tech giant plans to intensify its involvement in the American Manufacturing Programme, focusing on advancing domestic supply chains and manufacturing processes.

Despite criticism from Trump regarding Apple's previous decisions to shift some production to India, the company will now partner with American firms like Corning and Broadcom, aiming to bolster domestic production and innovation. The announcement also hinted at future expansions of US operations, although the iPhone's assembly will remain overseas.

The increased investment reflects Apple's response to policy pressures and a strategic move to smooth relations with the Trump administration. This development sparked a nearly 6% rise in Apple's stock, despite a challenging year marked by a dip in share prices and setbacks in artificial intelligence ventures.

(With inputs from agencies.)