Apple CEO Tim Cook Announces $1B Fund for Advanced Manufacturing Jobs on CNBC's Mad Money

Discussion in ' News Discussion' started by MacRumors, May 3, 2017.

  1. MacRumors macrumors bot


    Apr 12, 2001

    Apple CEO Tim Cook sat down with Mad Money host Jim Cramer this evening, where he discussed Apple's recent earnings results and delved into topics like an upcoming investment fund, the company's plans for television, the iPhone's impact on consumers, and Apple's overall impact on the world.

    During the show, Cook said Apple plans to create an advanced manufacturing fund with a $1 billion investment. Apple's first investment, which is already in the works, will be announced later in May.

    Cook went on to say that Apple is always looking at new ways to create jobs in the United States, and said the company will "bring things to market" in regard to growing its employee, developer, and manufacturing base. Cook also highlighted the $50 billion Apple spent purchasing from U.S manufacturers over the last year, including sourcing materials from 3M (adhesive) and Corning (iPhone and iPad glass).

    Job creation and investment in the developer community was also a focus, and Cook said we can expect to hear more during the summer. When asked specifically if Cook would put money behind empowering the next generation of developers, he said "We would. We will."

    On products, some of Cook's most interesting comments covered Apple's services category, which includes the App Store, Apple Music, Apple Pay, iTunes, and iCloud, and its future. 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.
    On the iPhone 7 and 7 Plus, Cook agreed when Cramer suggested the iPhone was the greatest consumer technology product. "I think the iPhone is the best consumer product ever," he said. "That's what I feel about it. And it's become so integrated, so integral to our lives that you wouldn't think about leaving home without it."

    Cook was asked if there's something coming our way that's totally unexpected and will "knock us out," and he of course demurred on an answer, but shared some hints on Apple's areas of interest, including artificial intelligence and augmented reality. "We always are working on an incredible number of things," he said.
    Cook covered a much wider range of topics during the interview with Cramer, including reiterating some of the comments he made during yesterday's earnings call about iPhone rumors impacting iPhone 7 and 7 Plus sales, especially in China. Other topics of discussion covered iPhone retention rate, stock valuation, Apple's focus on users, tax reform, the U.S. government, and more.

    Excerpts from the interview are available on the CNBC website, here and here.

    Article Link: Apple CEO Tim Cook Announces $1B Fund for Advanced Manufacturing Jobs on CNBC's Mad Money
  2. WannaGoMac macrumors 65816

    Feb 11, 2007
    What about more new emoji and watch bands?! That's what everyone is waiting for...
  3. Crosscreek macrumors 68030


    Nov 19, 2013
    Automation has taken over so I guess programming robots and building automation equipment? Sure won't be manufacturing jobs.
  4. Wayfarer macrumors 65816


    Jun 15, 2007
    I am just going to leave this right here.

    Attached Files:

  5. sza macrumors 6502

    Dec 21, 2010
    Tim Cook is assuming he is the president of USA.
  6. nurban1992 macrumors member

    Mar 1, 2015
    Nice! Sounds to me like Tim Cook is introducing more jobs to the USA than our own President is. If our own government proves incapable of improving our nation, at least Apple's there to make waves for them.
  7. xalea macrumors member


    Jan 12, 2017
    I keep reading this wondering.. what exactly is he saying? It sounds like a bunch of nothing to me. I went to the CNBC article and it says they're investing in a company for presumably the $1 billion. Okay. And?

    Oh but he's "excited" and they're "always working on things." Okay..
  8. ActionableMango macrumors 604


    Sep 21, 2010
    Hopefully Samsung will copy this feature.
  9. flat five macrumors 601

    flat five

    Feb 6, 2007
    @ TIM

    Please.. Pretty Please..
    buy me a KUKA!!
    thank you
  10. cardfan macrumors 6502a

    Mar 23, 2012
  11. adamneer macrumors 6502

    Apr 18, 2013
    Chicago, IL
    Has Barbara Walters bought the rights to the year 2020?
  12. jclo Editor


    Staff Member

    Dec 7, 2012
    Sorry for the typo, and thanks for the heads up. I have to rush when there's an interview that includes transcribing so I can get things up in a timely and accurate manner and there's always a couple of things that get overlooked until I can do some cleanup. Today was particularly bad because things kept going wrong with Wordpress and the streaming of the show itself, but I've fixed it now.
  13. topmounter macrumors 68020


    Jun 18, 2009
    FEMA Region VIII
    Did he talk about an iPad Mini5? Or new Mac desktops? Or a convertible MacBook? You know, did he talk about any s*** that I actually want to buy?
  14. briloronmacrumo macrumors 6502


    Jan 25, 2008
    Presumably Cramer didn't ask why Apple hasn't brought out new desktops in a long time. Certain journalists didn't ask those questions of Apple executives at last year's WWDC and considering it's a multi-billion dollar business you'd think someone would be interested.

    My suspicion is these interviews are highly choreographed and the interviewer complies in order to secure future interviews. Probably the same thing for last years WWDC interview of Shiller/Federighi
  15. MacDarcy macrumors 65816

    Jul 21, 2011
    Investing a billion dollars in advanced manufacturing in the US? Hmm. Could that first company be Liquidmetal?
  16. VanillaCracker macrumors 68020


    Apr 11, 2013
    Washington D.C.
    Glad to see they're investing in the US. The rest of what he said was more bullshiit to cover their ass about recent lack of innovation ;)

    Also, hearing him talk about "services" makes me cringe.
  17. tooltalk, May 3, 2017
    Last edited: May 3, 2017

    tooltalk macrumors regular

    Jan 15, 2015
    NY, NY
    He's not really saying much. I think he's trying to say that Apple is going to invest $1B in Foxconn who may setup shops in the US sometime in future.
  18. pat500000 macrumors 603


    Jun 3, 2015
    Quick..someone play me a song "mad world."
  19. Denmac1 macrumors 6502a


    Apr 22, 2007
    Lost in Space

    Sorry, these 'dog & pony shows' don't cut it for me. Steve has been gone for nearly 6 years now. As has been said before, it would have been detrimental to the company if he had not left a road map for future strategy and products as far as he could envision.
    I can understand that upon his passings that there was likely some culture shock that probably had internal management in a funk. However, that should all be in the past, as much as many of us miss Steve and his showmanship.
    Either Apple decided not to follow his vision or everyone has just been roaming to their own tune & pace, stagnating the company. Tim is a bean counter, not a leader, IMHO, of any type.
    I believe its been at least 4 years that Tim has been raving about the great 'pipeline'. We've only seen one new product and the upgrades and updates, based on what I have observed over the years, has greatly declined. There's no one driving the bus........
  20. mstrmac macrumors member


    Jun 30, 2007
    No need for damage control. This is the third year I believe that Cook/Cramer did this.

    1. Net sales increased 4.63% YOY from $50,557 to $52,896 MM.
    2. Gross margin increased 3.36% YOY from $19,921 to $20,591 MM
    3. Operating income increased 0.79% YOY from $13,987 to $14,097 MM
    4. Other income increased 278% YOY from $155 to $587 MM
    5. Net income increased 4.88% YOY from $10,516 to $11,029 MM
    6. Earnings per share increased 10.47% YOY from $1.91 to $2.11
    7. Cash dividends per share increased 9.62% YOY from $0.52 to $0.57
    8. American revenues increased 10.79% from $19,096 to $21,157 MM
    9. European revenues increased 10.39% from $11,535 to $12,733 MM
    10. Japanese revenues increased 4.77% from $4,281 to $4485 MM
    11. Rest-of-Asia revenues increased 20.13% from $3,159 to $3,795 MM
    12. Mac unit sales increased 4.09% from 4.034 to 4.199 MM
    13. iPhone revenues increased 1.19% from $32,857 to $33,249 MM
    14. Mac revenues increased 14.43% from $5,107 to $5,844 MM
    15. Services revenues increased 17.53% from $5,991 to $7,041 MM
    16. Other product revenues increased 31.25% from $2,189 to $2,873 MM
    17. Total product revenues increased 4.63% from $50,557 to $52,896 MM
    The only three things that dropped YOY were
    1. iPhone unit sales decreased -0.84% from 51,183 to 50,753 MM
    2. IPad unit sales decreased -12.96% from 10,251 to 8,922 MM
    3. IPad revenues decreased -11.85% from 4,313 to 3,889 MM
  21. citysnaps macrumors 68020

    Oct 10, 2011
    San Francisco
    That is so adorable! Really believing that Cook would, for some reason, change course this time and pre-announce new products.
    --- Post Merged, May 3, 2017 ---
    Yes, of course. "Damage control" because AAPL closed down 0.3%. That is so precious!
  22. MalcolmTucker macrumors newbie


    May 19, 2014
    I travel a lot.
    Well, there are no financial benefits to creating jobs in the US. As for Apple and Tim Cook's ambitions, the PR and marketing created from a $1B investment is likely more valuable than the computers they give away to make the software in XCode. When friends/family learn that they have a software developer in the family, they too will need to buy Apple and Mac Hardware.

    It's actually a brilliant move because it requires additional hardware sales; drives up stock valuation. If the stock increases 20% in value, I may have to upgrade to a brand new white mercedes- put some german engineers to work.
  23. linuxcooldude macrumors 68020

    Mar 1, 2010

    Everyones an armchair stockbroker now a days. Some say Apples doomed, but the prices go higher still.
  24. mi7chy macrumors 68040


    Oct 24, 2014
    Sounds like a lot of hot air when he has screwed over a lot of Western companies by not paying Qualcomm, bankrupting GT Advanced, screwing over Dialog Semiconductor, Imagination Technologies, etc. Cook is more dangerous to the West than all gitmo inmates combined.
  25. drumcat macrumors 6502


    Feb 28, 2008
    Otautahi, Aotearoa
    I hate Steve Jobs comparisons generally, but I feel compelled to ask... think SJ would give Jim $$$$ing Cramer 5 seconds? Nah.

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