Apple stock jumps as company plans huge new investment in America

Apple stock surged Wednesday as investors anticipated an announcement from the company about new U.S. factory construction. A White House official revealed that Apple will unveil a $100 billion commitment to American manufacturing, accelerating its domestic investment to a total of $600 billion over the next four years.
Angela Palumbo and Ben Levisohn for Barron’s:
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Apple had previously announced a $500 billion in the U.S. over the next four years. CEO Tim Cook said on the company’s July 31 earnings call that the investment would lead to “driving innovation and creating jobs in cutting-edge fields like advanced manufacturing, silicon engineering and artificial intelligence.”
White House Spokesperson Taylor Rogers told Barron’s that “today’s announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America’s economic and national security.”

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MacDailyNews Note: As of publication, AAPL is up $7.77, or 3.83%, to $210.69.

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