President-elect Donald Trump announced that Apple Inc. is planning a “massive investment” in the United States, according to statements made during his Make America Great Again Victory Rally in Washington D.C. on Sunday.
Trump revealed that he had spoken with Apple CEO Tim Cook, who reportedly informed him of the company’s investment plans.
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“I spoke with Tim Cook of Apple. He said they’re going to make a massive investment in the United States because of our big election win,”
This announcement is part of Trump’s plan to encourage big companies to invest more in the US. The incoming administration has promised to simplify regulatory processes, including expedited environmental permits, for companies investing $1 billion or more.
Apple recently approached a $4 trillion market valuation before experiencing a slight pullback. The company has not yet responded to requests for comment regarding the investment plans.
Trump’s business-friendly policies have received a positive response from the market. Major stock indices had their biggest weekly gains since November. The Nasdaq 100 rose by 1.9%. The S&P 500 increased by 1.3%.
As of now, specific details about Apple’s investment plans remain undisclosed.
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