Apple Inc (AAPL) declares that it will contribute more towards building the U.S. economy. The company revealed details of the plans it has to do with the profit and the taxes the company saves every year. Reportedly, Apple’s contributions towards U.S. economy will jump to $350 billion over the upcoming five years. The investors turned more towards AAPL after the news of its increased investment in U.S. economy.
Plans for the future:
The new plans about the contribution of Apple Inc (AAPL) increasing in U.S. economy were released in the press release today. The company plans to target three major areas to contribute in U.S. economy; which are namely, direct employment, selling and purchasing domestic materials from the native market, and what can be called as “app economy”.
The company firmly claimed that it has been the source of 2 million jobs for Americans and now adding another 20000 will be a huge contribution towards unemployment. Not only that, $55 billion yearly contributions to the trade with domestic market only will be a huge fix-up, ensuring more than $350 billion in next 5 years. Even with this huge amount, it should not be ignored that this amount does not include any taxes the company has to pay, mounting up the amount even more.
“Planned capital expenditures”, “new jobs” “tax revenue repatriations of overseas profits” and whatnot will mount up to $75 billion and $38 billion of investment annually creating a win-win situation for the U.S. overall. Not only that, Apple promises to open a new campus office apart from the 20000 seat allocation to the already present posts. Apple also plans to invest in data centres throughout the country. The company is breaking ground by making another new facility in Nevada, to help pre-existing facilities of the state.
Apple’s investment in education:
The company also announced increasing its Advanced Manufacturing Fund from $1 billion to $5 billion, even though the Fund was raised just last summer to support “Technological innovation in American manufacturers”. Future contributions consist of investment in advanced coding education and STEAM (Science, Technology, Engineering, Arts and Maths), all of which are aimed at supporting the “app economy”. Apple Inc (AAPL) stocks jumped by less than 1% to as high as $180.10 in intra-day trading following the announcement.