Apple to invest additional $129b in US: White House official
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The investment would take Apple's total pledge to US$600 billion (S$772 billion) over the next four years.
PHOTO: AFP
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WASHINGTON - Apple will invest an additional US$100 billion (S$129 billion) in the United States, taking its total pledge to US$600 billion over the next four years, a senior White House official said Aug 6.
The announcement, which was first reported by US media, will be officially made later on Aug 6 at 4.30pm at a White House event with President Donald Trump.
In February, Apple said it would spend more than US$500 billion in the United States
The Silicon Valley-based giant said it was its “largest-ever spend commitment”, which came as tech companies battle for dominance in developing artificial intelligence technology.
It builds on plans announced in 2021, when the company founded by Mr Steve Jobs said that it would invest US$430 billion in the US and add 20,000 jobs over the next five years.
Mr Trump, who has pushed US companies to shift manufacturing home by slapping tariffs on trading partners, claimed that his administration was to thank for the investment.
Apple reported a quarterly profit of US$23.4 billion in late July, topping forecasts despite facing higher costs due to Mr Trump’s sweeping levies.
Tariffs are essentially a tax paid by companies importing goods to the United States. This means Apple is on the hook for tariffs on iPhones and other products or components it brings into the country from abroad. AFP
