Apple shares close higher as tech giant plans major U.S. investment

Donald Trump Tim Cook

Companies can pay over eight years. Before 2016's election, Trump criticized the California giant's practices. Apple also stated it will make a one-off $38 billion tax payment to the USA, as part of the newly reformed tax code.

Apple to create 20,000 jobs over the next 5 years from CNBC.

The Ford motor company repatriated around $850 million and laid off about 10,000 US-based workers in 2005, while pharmaceutical firm Merck & Co repatriated $15.9bn and announced layoffs of 7,000 workers in 2005. American companies are under pressure to show that they're contributing to the economy, and Apple's news is coming right as other American brands are slashing jobs.

"Being seen to just hand the cash back to shareholders could spark some political sensitivities", and the spending announcement could be part of Apple's efforts to manage this issue, Cordwell said.

Now, the company has revealed plans on HYPERLINK Wednesday that it will bring back the massive amount of the $252 billion in cash that it kept overseas.

Roughly half of Americans work at businesses with fewer than 500 employees, and it is not clear how the tax bill will impact these small businesses because the savings outlined in the tax bill are much smaller.

You can find out more details about Apple's plans over at their website at the link below. The payment should be the "largest ever made", the company said. "They're going to have well over $200 billion by the end of this year that will be available for incremental investments, capital returns and M&A", said Matthew Kanterman, a New York-based Bloomberg Intelligence analyst. "And Apple hasn't historically done big M&A", he said. Some of the funds will go to the free Swift Playgrounds app which provides a free curriculum for the easy-to-learn Swift coding language that Apple created.

Apple has not said whether it had settled on a new campus location yet, and it did not make any commitments on the size of new spending or hiring specific to the campus. The company listed $252.3 billion in overseas cash in its most recent filing with the SEC.

The global tech giant added it would invest some $10 billion in data centres across the USA, including breaking ground on a new facility in Reno, Nevada.

The $30 billion investment in the company's facilities across the United States will include a new campus in a yet-to-be-disclosed location.

Already by far the most valuable company in the world, Apple is now within spitting distance of becoming the world's first trillion U.S. dollar company.

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