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Tim Cook Talks About Apple's Role In U.S. Job Creation

Tim Cook Talks About Apple's Role In U.S. Job Creation
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Apple Inc. (NASDAQ: AAPL) CEO Tim Cook was proud to explain in an interview with CNBC's Jim Cramer the company's role in creating and supporting American workers and jobs.

Cook was interviewed during Cramer's daily show "Mad Money" Wednesday, and part of the conversation focused on a very hot topic these days — President Donald Trump's mission to boost job creations in America.

According to Cook, Apple has created 2 million jobs in the United States, and this figure doesn't even include the multiplier effect, which would make the figure "a ton more."

New Manufacturing Fund

Cook also said Apple supports jobs at some of his American suppliers, including Corning Incorporated (NYSE: GLW)'s glass used in iPhones and iPads and adhesives from 3M Co (NYSE: MMM). All in, Cook said Apple spent over $50 billion last year in the United States.

Cook feels Apple can do more.

"We're not satisfied with just 2 million," Cook told Cramer. "And so you can bet we're going to be hiring thousands of employees in the future. Thousands more employees in the future."

Cook then followed up with a new pledge that hasn't been revealed to the public until now. Apple will create a new $1 billion "advanced manufacturing fund" with the purpose of empowering the next generation of developers, touching more people and training more people to code and pursue their passion.

Cook noted that Apple will be announcing the first investment for the fund later on in the month.

"By doing that, we can be the ripple in the pond," Cook emphasized. "Because if we can create many manufacturing jobs around, those manufacturing jobs create more jobs around them because you have a service industry that builds up around them."

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Image Credit: By Kindly granted by Valery Marchive (LeMagIT) - Flickr, CC BY-SA 2.0, via Wikimedia Commons

Posted-In: AppleCNBC Jim Cramer Politics Topics Tech Media General Best of Benzinga


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