Apple Announces $100 Billion U.S. Manufacturing Investment
Apple Inc. (NASDAQ: AAPL) is seeing a 3% rise in its stock price as of 11:30 a.m. ET today following CEO Tim Cook’s announcement at the White House on Wednesday about a new $100 billion investment aimed at strengthening its U.S. manufacturing base. This investment increases Apple’s total commitment to domestic infrastructure to $600 billion.
Additionally, Apple’s stock is benefitting from news that Taiwan Semiconductor Manufacturing Company (TSMC) will be exempt from a 100% tariff on imported foreign chips, which could significantly reduce costs for Apple as TSMC is a key supplier of high-performance chips for its devices.
