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. How do we grow manufacturing?
Apple's quarterly report Tuesday showed its cash holdings - the vast majority held overseas - jumped to a sum that tops the entire economic output of Chile.
Cook pointed out Apple provides more than 100,000 jobs already in the United States and uses many American suppliers, including Corning, which makes the screens for iPhones and iPads. Apple plans to double its services category by 2020 with both existing and new services, and Cook said Apple is pursuing opportunities related to television and original programming.
Foxconn is the world's largest contract electronics maker and is best-known for assembling products for global brands such as Apple and Sony. "We continue to strengthen our local presence across the entire ecosystem, and we're very optimistic about our future in this remarkable country with its very large, young and tech-savvy population, fast-growing economy and improving 4G network infrastructure", Mr. Cook said in the second quarter results earnings call on Tuesday.
Coffee and a bagel take on new meaning
According to the company, the Espresso Buzz Bagel contains 13 grams of protein and, more importantly, 32 milligrams of caffeine. The thought of a bagel that tastes like coffee is giving me a minor caffeine buzz and I seriously can't wait to try one.
Apple investing in high-tech manufacturing in the United States would come as rare common ground with US President Donald Trump, who hammered away at the theme during his campaign for office a year ago. If you are accessing this article on another domain, it was stolen and reposted in violation of United States and global trademark & copyright legislation. Apple saw nice double-digit growth in many end markets, including the U.S. However, greater China remains a bit of a near-term iPhone weak spot, although we wouldn't rule out pent up demand in this region for the next iPhone model either and we still like Apple's long-term prospects in the region. Cook has personally attacked the current tax code many times over the last few years.
A $1 billion investment is a relative drop in the pond for Apple, which yesterday revealed that its cash holdings, mostly offshore, now total more than $250 billion.
Apple sold 50.76 million iPhones in its fiscal second quarter ended April 1, down from 51.19 million a year earlier.
Analysts on average had expected $2.02 per share, according to Thomson Reuters I/B/E/S. Revenue rose 4.6pc to $52.90bn in the quarter, compared with analysts' average estimate of $53.02 bn.
Shares of Apple (NASDAQ:AAPL) traded down 0.31% during midday trading on Wednesday, hitting $147.06. The company's market cap is now above $750 billion.