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Tim Cook: Apple’s manufacturing expansion across America will create a ‘domino effect’

MacDailyNews

Sep 16

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Apple CEO Tim Cook (left) speaks with CNBC's Jim Cramer at Corning's plant in Kentucky — Apple CEO Tim Cook (left) speaks with CNBC’s Jim Cramer at Corning’s plant in Kentucky

In an interview with CNBC’s Jim Cramer, Apple CEO Tim Cook described Apple’s commitment to bolster manufacturing in America and suggested the factories will have a “domino effect,” bringing more businesses to communities across the country.

“We can’t be everywhere. I wish we could, but we are putting $600 billion to work in the next four years,” Cook said. “And so it is an extraordinary commitment. And there’s 79 factories across the U.S. that will benefit from this.”

Julie Coleman for CNBC:
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Cook told Cramer Apple’s factory buildout might encourage other corporations to build their own factories in these communities, creating a “domino effect.” He also said there will be “some surprises” for communities who do not yet know Apple will be bringing business to their areas.
Cook emphasized in the interview his company’s recent decision to invest $2.5 billion to expand its partnership with Corning
and its glass factory in Kentucky. Apple previously has said Corning’s facility will provide glass for all iPhones and Apple Watches. Cook told Cramer the Corning investment is a “great start, and a very important one, because the glass is something you interface with all the time.”
In total, Apple has pledged a staggering $600 billion to boost manufacturing in the U.S. over the next four years. The iPhone maker also previously said it would work with a number of different companies to grow domestic semiconductor production, including Taiwan Semiconductor, Texas Instruments and Applied Materials.
Cook also told Cramer that Apple plays a role in helping train employees to work in these factories, mentioning the company’s new “Manufacturing Academy” in Detroit.
According to Cook, Apple shareholders are not protesting the company’s colossal domestic manufacturing spend. He said he thinks most feel it’s positive that Apple is “investing in America.”

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MacDailyNews Note: Here’s the video:

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