Apple Commits $1 Billion To Fund US Expansion Of Advanced Manufacturing

Apple Commits $1 Billion To Fund US Expansion Of Advanced Manufacturing

Apple Inc ( AAPL ) plans to create a $1 billion fund to invest in US companies that do advanced manufacturing, Chief Executive Tim Cook said on Wednesday.

Mr. Cook said the company will announce the first investment from the fund later this month.

During a conference call with analysts, Cook said Apple was seeing a "pause" in iPhone purchases that he felt was caused by unconfirmed "reports about future iPhones".

In the past, Cook said American employees don't have the right job skills for 21st century manufacturing. How do we grow our developer base?

Afghan security fires on census workers, killing 1
But the Afghan government said Pakistan was warned not to conduct census in villages on the border which housed divided families. Afghan security officials told VOA a civilian was killed on their side while a border police personnel was wounded.

Meanwhile, Apple has already created 2 million jobs in the US, Cook said.

Apple's move comes amid a rush by companies to respond to Trump's constant call to bring manufacturing jobs to this country - some companies have announced new, or sometimes nearly new, jobs alongside the president in recent months.

Donald Trump has said he wants to impose tariffs on China, which would raise Apple's costs.

"You know, the watch has been an incredible move into health", Cook told Cramer. "So you're the first person I'm telling", Cook told CNBC's "Mad Money" host Jim Cramer during a wide-ranging, 24-minute interview.

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Indian equity markets cheered the overnight Union Cabinet decisions with the NSE Nifty on Thursday closing at a record high level. Foreign portfolio investors have net sold shares worth Rs 2,600 crore since April 1.

Apple does manufacture one product in the United States - it assembles Mac Pros at a plant in Austin, Texas through a partnership with Flextronics.

Trump has proposed slashing corporate tax rates in a way that encourages businesses to bring some of those foreign-held funds back to the United States.

Why would a company with $250 billion in cash need to borrow 1/250th of that in order to launch its vaunted U.S.jobs program?

"If you earn money globally, you don't - you can't bring it back into the United States unless you pay 35% plus your state tax", Cook told Cramer.

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Game Two of the series is Wednesday in Cleveland before the series shifts to Toronto for Games 3 and 4 on Friday and Sunday. One round earlier than a year ago, Toronto and Cleveland are meeting again in the National Basketball Association playoffs.

Finally, Cook said "I think with each administration in every country in the world there are the thigs you agree, and you disagree." and he also added, "You have to gain consensus and try to influence the things you do not". "If you don't show up, I think that's the worst scenario, because then you're quiet". Combining revenue from Apple Watch, AirPods and Beats headphone sales over the course of the a year ago would give Apple's "wearables" offerings the scale of a Fortune 500 company, according to Cook.

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