Published: Fri, January 19, 2018
Money | By Armando Alvarado

Dow 26000 and Apple's $350B Pledge Just Latest Examples of Trump Boom

Dow 26000 and Apple's $350B Pledge Just Latest Examples of Trump Boom

Apple Inc. said it will bring hundreds of billions of overseas dollars back to the USA, pay about $38 billion in taxes on the money and invest tens of billions on domestic jobs, manufacturing and data centers in the coming years.

The company, which opened a new headquarters in Cupertino a year ago, said it also plans to open another site in the USA focused initially on employees who provide technical support to Apple product users.

According to a company statement, Apple plans to establish a new campus in a new location, which will initially house technical support for customers.

Apple Inc is planning to build a new corporate campus and hire 20,000 United States workers in an expansion driven in part by a tax cut that would enable the iPhone maker to bring an estimated US$245 billion back to its home country. The company said it will add 20,000 American jobs at existing campuses, as well as a new campus. He then said he didn't believe at first that it was $350 billion, but thought instead it was $350 million. That's going to be a lovely plant.' They said, 'No, it's three-hundred and fifty billion dollars.' And I just called Tim Cook and I thanked him.

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He also said "the best comp for Allen (6-5, 233) is Big Ben (Roethlisberger) when he came out of college". If he had played in a better passing offense, he could have been a Biletnikoff victor .

The company did not say how big the second campus would be, or how numerous additional 20,000 workers that it plans to hire would be based there. And now, with this new facility that's being built, Apple isn't just strengthening its commitment to Nevada, it's helping to remake downtown.

After the speech, Trump continued to praise Apple on its announcement on Twitter. "Great to see Apple follow through as a result of TAX CUTS".

He told ABC News he has been advocating to repatriate the tech giant's overseas profits.

That anticipated tax bill implies Apple intends to bring back about US$245 billion of its overseas cash, based on the temporary tax rate of 15.5 percent on foreign profits. He said Apple "never thought" the old system was good for the USA because it kept money overseas and led "people to invest elsewhere instead of within the country".

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