Apple to give $1 billion boost to United States manufacturing

Apple CEO Tim Cook speaks during an announcement of new products in Cupertino Calif. Apple will invest $1 billion to help create more U.S. manufacturing jobs and counter recurring criticism about its reliance on

Apple CEO Tim Cook speaks during an announcement of new products in Cupertino Calif. Apple will invest $1 billion to help create more U.S. manufacturing jobs and counter recurring criticism about its reliance on

It also comes amid President Donald Trump's push for companies to bring manufacturing jobs back to the US rather than ship them overseas.

Tim Cook, Apple's chief executive said in a CNBC interview that the company has set up an advanced manufacturing fund, and is already finalizing its first investment. "So you're the first person I'm telling", Cook told Mad Money host Jim Cramer on Wednesday.

The company has updated its United States job creation webpage yesterday, a move that coincided with a TV interview during which Tim Cook announced plans to promote manufacturing jobs in the country. The company also lists key investment projects in California, Texas, Arizona, North Carolina, and OR to build new facilities and hire more employees. Cook brought up the Apple Watch's renewed focus as a healthcare gadget.

Even if more manufacturing jobs are created, however, there may be too few Americans with manufacturing skills to fill them.

The company has established an advanced manufacturing fund to create jobs in the U.S. The announcement was accompanied by a new "job creation" page on Apple's site, which highlights the 2,000,000 jobs Apple directly and indirectly supports in the United States. "And so you can bet we're going to be hiring thousands of employees in the future", he continued. Cook said that the company spent over $50 billion in the US previous year. Last year year marked the first quarter where iPhone sales didn't grow year over year, and it's likely many are holding out for Apple's 10th anniversary iPhone 8.

2 killed when cargo plane goes off runway in West Virginia
Kent Carper with the Kanawha County Commission says the plane hit the runway sideways and rolled 150 feet down the hill. Plante told WSAZ that officials didn't immediately find evidence of any issues that might have caused the crash.

The first investment of the find is to be announced later in May.

One of the areas where Cook and Trump see eye-to-eye is repatriation of foreign cash at favorable tax rates.

Finally, Cook said "I think with each administration in every country in the world there are the thigs you agree, and you disagree." and he also added, "You have to gain consensus and try to influence the things you do not".

Cook clarified how Apple plans to "give back" saying, "So how do you give back?" This ostensible decision of the heart very clearly became something more strategic, as Cramer noted that while a billion is a big number, it's relatively tiny given Apple's liquid war chest, which now tops $250 billion in cash.

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