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Apple Announces $500 Million Commitment to Buying American Magnets
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This seems like the kind of routine supply chain & manufacturing decision that would have gone without much notice outside of an earnings call before. The announcement, more than the decision, seems to be performative for obvious reasons.
Just looked at their stock. Went up 83% in the last 5 days. Huge jump on July 10th. Man if only we were privy to such juicy insider information as some are.
I think that it's a good purchase to guarantee the production supply line at least in terms of magnets.
The US national debt increases by about $268 million every hour. So between the time I posted this comment and when the original article was posted (just shy of 2 hours), the US economy burnt through that $500M economic stimulus. Drop of water on a hot plate.
In other words, as it becomes more profitable to build it with machinery in the US, things will get moved here. Dozens of jobs. Now, get Americans cleaning the slaughterhouses. Lots of jobs there that are becoming available.
Everything about this is. Distract with shiny new object, business as usual everywhere else.
Which means appeasing the majority of the American people.
When the Adjudicate Rapist and Convicted Felon makes the announcement the dozens of jobs will be millions.... LOL
31.6% of the eligible electorate voted for Trump in 2024. 49.8%, if you only count registered.
Neither are a majority.
Maybe US citizen isn’t good enough for Apple to employ for manufacturing after all. So automation is the way to go."Dozens of new U.S. jobs"
But the bar is incredibly high and Trump supporters are very loyal. That’s all that matters.
I wonder who inside US would be qualified for those dozen jobs. Domestic Research efforts have been gutted thoroughly. Does that mean Apple will subsidise the overseas education for qualified candidates?
$500 million will employ more than a few dozen people."Dozens of new U.S. jobs"
The announcement itself is an appeasement ($500 million and dozens of jobs is rounding error that no one cares about) but Apple doesn't make business decisions unless there is something in it for them.
That something is keeping Apple's products off Trump's tariff list, because they aren't going to built in the US, no matter how much US officials want them to be.
And what's ironic is that Trump celebrates international trade deals when they've been signed. So he's not really loyal to American companies in the end, only addicted to business and making money.
The best magnets, the strongest magnets. These rare Earth magnets will be well done!
I feel like people forget and are super quick to judge things, specially when it comes to Apple. Apple bought a forest in South Carolina (?) years ago. I don’t remember why SC was selling it, but they did. Apple bought it and uses it as their fiber farm for packaging materials. Probably only has a couple dozen employees, so no major impact when you look at the whole, but those dozen jobs are better than zero jobs.
Apple invest billions every year into educational programs to build the next generation of programmers, hardware engineers etc. Part of that 500 billion is going to Detroit area for engineering education. Part of that 500 billion was used to improve Corning glass (that might have been a different investment, they have made a few investments towards Corning glass over the years).
A $500 million investment, to expand an operation in Fort Worth and a recycling facility in California doesn’t sound that bad. Sure dozens of employees doesn’t sound like much compared to the factory towns in Asian, but they should be dozens of decently paid jobs that people can make careers of.
Apple invest billions every year into educational programs to build the next generation of programmers, hardware engineers etc. Part of that 500 billion is going to Detroit area for engineering education. Part of that 500 billion was used to improve Corning glass (that might have been a different investment, they have made a few investments towards Corning glass over the years).
A $500 million investment, to expand an operation in Fort Worth and a recycling facility in California doesn’t sound that bad. Sure dozens of employees doesn’t sound like much compared to the factory towns in Asian, but they should be dozens of decently paid jobs that people can make careers of.