This is a good thing. That’s all I have to say. It’s a good thing.
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Apple Plans $350 Billion Boost to U.S. Economy Over 5 Years, 20,000 New Jobs, and a New Campus [Updated]
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They are bringing manufacturing to the US, hence contributing to the manufacturing fund.
It's not completely fair to say Pres. Trump didn't do anything but you are otherwise correct. Congress did most of it but it took a supportive president for it to pass. It's like back in the 90s. Pres. Clinton gets credited with a lot of of good economy and eliminating the deficit (for a time) when it was mostly Congress who was responsible. Pres. Clinton had his input and did a good job working with Congress but people should remember that Congress makes and passes laws. They are in charge of tax policy. Presidents can be more or less influential in the process.
This would have happened 2 years ago, and has nothing to do with the tax bill.
Wasn't it a few years ago that Apple invested massive amounts of money in that failed sapphire plant in Arizona? They make a lot of investments, including in the US, such as the $5 billion HQ.
And the numbers they're talking about here are pretty small. Only 20,000 additional employees and $5 billion fund for the US? Their foreign manufacturers have 500,000 employees in a plant. It's sounds more like an expanded R&D center than a manufacturing center.
If you want to thank someone, thank Google, Microsoft, Amazon, and all other Apple's competitors for forcing Apple to invest in R&D to compete against them.
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What's sad is that you blindly follow people who care only about lining their own pockets at your expense, probably because they happen to also pass laws that serve to further racist, hateful, and discriminatory agendas that you support.
Excellent news. Regardless of political persuasion, this is good news for the US economy and my fellow countrymen. Hard not to be pleased.
No, they invested 500 million in 2013, which was to be repaid.
Today they are commiting to 350 BILLION, with no expectation to be directly repaid. Very very very different.
Investment in people is the most important part, as emphasized by Tim Cook last month.
Apple CEO Tim Cook: This Is the Number 1 Reason We Make iPhones in China (It's Not What You Think)
"There's a confusion about China. The popular conception is that companies come to China because of low labor cost. I'm not sure what part of China they go to but the truth is China stopped being the low labor cost country many years ago. And that is not the reason to come to China from a supply point of view. The reason is because of the skill, and the quantity of skill in one location and the type of skill it is."
"China has moved into very advanced manufacturing, so you find in China the intersection of craftsman kind of skill, and sophisticated robotics and the computer science world. That intersection, which is very rare to find anywhere, that kind of skill, is very important to our business because of the precision and quality level that we like. The thing that most people focus on if they're a foreigner coming to China is the size of the market, and obviously it's the biggest market in the world in so many areas. But for us, the number one attraction is the quality of the people."
"The number one reason why we like to be in China is the people. China has extraordinary skills. And the part that's the most unknown is there's almost 2 million application developers in China that write apps for the iOS App Store. These are some of the most innovative mobile apps in the world, and the entrepreneurs that run them are some of the most inspiring and entrepreneurial in the world. Those are sold not only here but exported around the world."
Apple CEO Tim Cook: This Is the Number 1 Reason We Make iPhones in China (It's Not What You Think)
"There's a confusion about China. The popular conception is that companies come to China because of low labor cost. I'm not sure what part of China they go to but the truth is China stopped being the low labor cost country many years ago. And that is not the reason to come to China from a supply point of view. The reason is because of the skill, and the quantity of skill in one location and the type of skill it is."
"China has moved into very advanced manufacturing, so you find in China the intersection of craftsman kind of skill, and sophisticated robotics and the computer science world. That intersection, which is very rare to find anywhere, that kind of skill, is very important to our business because of the precision and quality level that we like. The thing that most people focus on if they're a foreigner coming to China is the size of the market, and obviously it's the biggest market in the world in so many areas. But for us, the number one attraction is the quality of the people."
"The number one reason why we like to be in China is the people. China has extraordinary skills. And the part that's the most unknown is there's almost 2 million application developers in China that write apps for the iOS App Store. These are some of the most innovative mobile apps in the world, and the entrepreneurs that run them are some of the most inspiring and entrepreneurial in the world. Those are sold not only here but exported around the world."
I fail to see a causal effect here. In fact, I see no mention of the tax bill in Apple's press release, indicating they would do this regardless.
Difference is, out of everything you have mentioned, only under Trump has Apple started to make massive commitments to the United States economy.
Who know where they come up with these figures. Just like when they say they’ve created x million jobs and it’s a very liberal interpretation like including FedEx drivers who deliver iPhones to people’s homes. My guess is a lot of the $350B will be prepayments to suppliers. The 20K sounds like direct Apple employees so I doubt it will be manufacturing. Probably a lot of data centers and tech support. Or maybe some of it is related to wherever project titan goes.
Apple could already hold bond sales that were basically free money for them due to the rock bottom interest rates vs. the return on the bonds. The tax repatriation isn't really that important for Apple's plans or to the U.S. economy. I think you're going to see a lot of posturing like this in the corporate world in the coming year because they know they didn't really need the "help". Corporate profits were already at record highs in 2016 and corporate taxes relative to GDP were already at record lows in 2016.
Thanks to Congress and the President for passing historic tax reform last month!
I take issue with the kool-aid drinkers who show up and say “thank you Lord Trump” as if it happened only because of him. No, it happened because taxes are about the only thing Republicans can agree on and they control all branches of government right now.
They should split the role of the U.S. President. One for running the business side and another for public speaking and policy presentations and photo opportunities for the liberal people to make them feel good. The U.S. never had a president that can do both things.
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Yeah, I'd like to see many of the president's policies fail, but this is actually one that could end up benefiting the economy and country. If it actually works, then props to them. It might be why it was the only thing they could pass last year—it was an actual semi-decent idea! Far from perfect, but something. I still worry that it may only make the rich richer while leaving many others behind, but we'll see.
It is entirely because of the new tax bill. The rate of repatriation was slashed from 35% to 15.x%....that is Huge.
THANKS President Donald J. Trump. You are really Making America Great Again.. The Fake News Media will try to lie about how the tax cut doesn’t help regular people.. We don’t believe Fake News CNN, We love you Mr. President. #Trump2020
No it’s a big deal. The tax bill on the repatriated income is just about what Apple had reserved for, but about half of what it could have been. And in the future there is no more disincentive to repatriate income.
Doesn't take much common sense to see correlation.
The $350 billion is the "contribution to the US economy".
That's not additional investment.
That's the sum of all the US economic activity over the next 5 years. That was ALREADY going to happen. If each year they make $70 billion in iPhone/Mac/etc. sales in the US, that's $350 billion over 5 years.
So, as usual, nothing has changed.
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Sounds like the MAGA crowd is trying as hard as they can they make up a correlation.
Tax cuts are racist now? What isn't racist these days according to you elite's.