Friday, 22 June, 2018

Apple CEO Tim Cook Makes a Surprise Appearance at Reno Facility Groundbreaking

Apple CEO Tim Cook Makes a Surprise Appearance at Reno Facility Groundbreaking Apple CEO Tim Cook Makes a Surprise Appearance at Reno Facility Groundbreaking
Nellie Chapman | 19 January, 2018, 01:25

While those taxes appear to cover almost all of Apple's massive cash hoard, the company has not revealed whether that cash will be used on USA acquisitions, research, or dividends and stock buybacks.

The consumer technology giant revealed its hiring push on Wednesday as part of the company's plans to invest $30 billion in "capital expenditures" in the US over the next five years.

Apple announced it will make both capital investments and human capital investments.

Workers at a factory in Texas that manufactures vertical-cavity surface-emitting lasers (VCSELs), empowering Face ID, Animoji, and other iPhone X features.

Apple will also spend $10 billion on building data centres, $20 billion in additional infrastructure investment and is increasing the size of a previously announced manufacturing fund to support its suppliers.

Apple said that it will spend $30 billion on fixed assets, such as land, business, and equipment. Apple already employs 84,000 people in all 50 states.

Apple also said that it would increase spending to various US -based component suppliers and manufacturers from $1 billion to $5 billion. A provision of the tax reform bill.

A sheet metal fabricator saw-cuts material for Apple's data center expansion in Reno, Nevada.

Goldman estimated that $920 billion in untaxed profits is held overseas by S&P 500 companies and that $250 billion would be brought back as a result of Trump's tax reform, according to Business Insider.

Apple CEO Tim Cook, center, laughs with Reno Mayor Hillary Schieve, left, and Nevada Gov. Brian Sandoval during a groundbreaking ceremony celebrating a new Apple warehouse on Wednesday, Jan. 17, 2018, in Reno, Nev.

Cook said that "Reno plays an incredibly important role in the products and services that we provide our customers worldwide".