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White House economic adviser Kevin Hassett has hinted that Apple could be making a major investment announcement sometime on Wednesday, albeit without explaining what that announcement will be.
Apple occasionally makes public announcements pledging to make major investments in the United States. If the White House is correct, Apple could be making another one on Wednesday.
In an interview on Wednesday morning, White House economic adviser Kevin Hassett said that it was probable that Apple will be making one such investment announcement later in the day. The interview with Fox Business Network caught by Reuters was about investment pledges made by companies during the second term of President Donald Trump.
“This is trillions and trillions of dollars of commitments for people to build new factories here,” Hassett said. “In fact, you’re likely to see one today from Apple.”
Hassett didn’t further clarify the Apple comment, nor what the announcement would actually entail.
Re-commitment
The Trump Administration is obviously very happy to crow about investments being made in the United States. Indeed, the Apple comment arrives after Trump claimed TSMC was spending $300 billion in Arizona on chip manufacturing.
While the proposed Apple announcement could be big news, it is unclear whether it will actually involve any new money being put into the United States at all.
In February, Apple confirmed a Trump announcement of massive US investment. At the time, it said that $500 billion would be spent in the country, including expansion of the Advanced Manufacturing Fund and building a new manufacturing facility in Houston, Texas.
The $500 billion program was a continuation of Apple’s gradual investment in the United States. In 2018, it said it would spend $350 billion on U.S. projects, before making another investment announcement of $430 billion in 2021.
If Apple does make an announcement on Wednesday, it is likely to be one that incorporates the earlier February announcement’s funds, rather than more investment.
