Apple Hikes 5-Year US Investment Commitments To $430B

Apple Hikes 5-Year US Investment Commitments To $430B
  • Apple Inc AAPL has raised its five-year U.S. committed investment by 20% to $430 billion and 20,000 additional jobs over the next five years focused on silicon development and 5G innovation across nine U.S. states.
  • Apple had initially earmarked a $350 billion investment during 2018 under a five-year plan. Its initiative encompassed direct spend with American suppliers, data center investments, capital expenditures, domestic spending, including Apple TV+ productions across twenty states, job creation, and creative industry support.
  • Apple aimed to invest over $1 billion in North Carolina. The company will begin construction on a new campus and engineering hub in the Research Triangle area. The initiative can create a minimum of 3,000 new jobs in machine learning, artificial intelligence, software engineering, and other pioneering fields.
  • Apple will also launch a $100 million fund to support schools and community initiatives in the greater Raleigh-Durham area and across the state. The company will donate over $110 million in infrastructure spending to the 80 North Carolina counties with the greatest need for broadband, roads and bridges, and public schools. Apple's investments can generate over $1.5 billion in annualized economic benefits for North Carolina.
  • Price action: AAPL shares traded higher by 0.08% at $134.43 in the premarket session on the last check Monday.

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