Home > Brands > Apple > Apple Spends $50bn On Supplies

Apple Spends $50bn On Supplies

Apple paid out roughly US$50 billion (A$65 billion) last year to US-based suppliers, including 3M and Corning, CEO Tim Cook said, emphasising the iPhone-maker’s commitment to US manufacturing.

Speaking at an annual shareholder meeting, Cook revealed that the previously undisclosed data at a time when Apple has come under pressure from President Donald Trump for building its iPhones in China.

Apple also wants to work with Trump on issues like bringing back its offshore profits to the USA at lower tax rates. “We’re always looking for more ways to help our country. We know that Apple can only exist in the US,” Cook told the gathered shareholders.

Apple’s stock has surged 41 percent over the past 12 months. On Tuesday, US time, the shares were up 0.21 percent at $137.21 – and on track for a record high close.

You may also like
Tile Slams Apple’s AirTags Item Tracking Push
Apple’s Optional Ad-Tracking Starts Next Week
Accessories Already On The Way For New Apple Products
Retailers To Benefit From New Apple Product Launches
Controversial Parler App Will Return To Apple’s App Store