Apple To Spend $600B On U.S. Manufacturing Over Four Years

Apple CEO Tim Cook told CNBC’s Jim Cramer that the company will invest $600 billion in U.S. manufacturing over the next four years. In an interview with CNBC's Jim Cramer, Cook said 79 factories nationwide will benefit. That includes Corning’s Kentucky glass plant, where Apple is committing $2.5 billion to expand production for iPhones and Apple Watches. He added that Apple is working with Taiwan Semiconductor, Texas Instruments, and Applied Materials to grow domestic chip production. Cook also highlighted Apple’s new “Manufacturing Academy” in Detroit to help train workers and support small to medium-sized businesses. He said shareholders support the effort and have raised no complaints about the spending.