Apple Allocates Over $1B For California's Affordable Housing Support

July 14, 2021 12:04 PM | 1 min read | Make a Comment

Apple Inc AAPL earmarked over $1 billion out of a $2.5 billion fund to address California's affordable housing crisis.
The iPhone maker deployed over $500 million by 2020 since the Nov. 2019 announcement to combat the pandemic-driven intensified housing challenges.
It has supported affordable housing efforts across 25 California counties.
Around two-thirds of borrowers are Hispanic, Black, Asian, Pacific Islander, or American Indian.
The program has also provided additional benefits for teachers, veterans, and firefighters, which comprise nearly 10% of borrowers.
Apple held $69.8 billion in cash and equivalents as of Mar. 27, 2021.
Price action: AAPL shares traded higher by 1.93% at $148.45 on the last check Wednesday.

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