Apple To Invest $1 Billion In American Manufacturing

Ted Goodman | Reporter

Apple is investing $1 billion into advanced manufacturing in the United States with plans to create thousands of new American jobs, its CEO said Wednesday.

Apple’s CEO Tim Cook made the announcement to Jim Cramer on CNBC’s “Mad Money” Wednesday. “You’re the first person I’m telling,” Cook told Cramer, who was visibly surprised by the news. “Well, not the first person because we’ve talked to a company that we’re going to invest in already.”

The decision to make a $1 billion investment in advanced manufacturing in the United States may be a part of an effort by Apple to “head off” any potential conflicts between the company and President Donald Trump, according to The Verge.

“We’ve now created two million jobs in America. Two million,” Cook asserted to Cramer in an exclusive interview. He highlighted examples of where Apple invests in American companies, like the iPhone’s glass screen is purchased from Corning and its adhesives are purchased from 3M.

“We’re not satisfied with just two million,” said Cook. “And so you can bet we’re going to be hiring thousands of employees in the future,” he continued.

The president has made American job creation a priority in his first 100 days, focusing particularly on manufacturing. The president has publicly shamed Fortune 500 companies in the past, including Apple. (RELATED: American Manufacturing High On Trump Through First 100 Days)

During the 2016 presidential campaign, then-candidate Trump urged voters to boycott the tech giant when it refused to hand over encryption data from the San Bernardino shooter’s cell phone in Feb. 2016.

Trump sent a series of tweets in 2013 and 2014 where he was critical of the company’s iPhone screen sizes. In April 2013, Trump tweeted that he missed Steve Jobs and demanded that new CEO, Cook, increase the iPhone screen size.

When Cramer pointed out Wednesday that $1 billion is a sliver of the companies $256 billion, Cook said that the $1 billion can be a “ripple in the pond.” Cook asserted that if the company can create more manufacturing jobs with the initial investment, it could lead to an increase in jobs in surrounding industries, including the service sector.

The first investment into the advanced manufacturing fund is set to take place sometime in May, according to Cook.

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Tags : apple cnbc donald trump jim cramer tim cook
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