Apple CEO Tim Cook dinner speaks throughout the Apple Worldwide Builders Convention (WWDC) on June 09, 2025 in Cupertino, California.
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Apple shares popped 5% Wednesday, forward of an Oval Workplace occasion touting an replace to the corporate’s said plans to spend and spend money on the U.S.
CEO Tim Cook will be part of President Donald Trump for the announcement set for 4:30 p.m. ET.
Apple will up its earlier dedication, made in February, from $500 billion to $600 billion over the subsequent 4 years, a White Home official advised CNBC.
It’ll additionally announce a brand new manufacturing program referred to as the American Manufacturing Program, the official mentioned.
Cook dinner has had a combined relationship with Trump over the previous 12 months. Whereas Trump has praised the Apple CEO previously, in latest months he has mentioned he has a “downside” with the manager and has pushed for Apple to assemble its iPhones within the U.S., not China or India.
Apple faces over $1 billion in elevated prices this quarter due to Trump’s tariffs on imports —primarily associated to China — and Cook dinner reminded traders final week that “the overwhelming majority” of its merchandise could be topic to pending new tariffs below a Part 232 investigation.
“We clearly attempt to optimize our provide chain, and finally we are going to do extra in america,” Cook dinner mentioned.
Apple YTD inventory chart.