Apple Expands Its U.S. Manufacturing Commitment

In February, Apple announced plans to invest $500 billion in the U.S. over the next four years. Today, that commitment was increased to $600 billion. In the company’s press release, Tim Cook said:

Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program. This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we’re grateful to the President for his support.

One of the first deals announced is an expansion of Apple’s relationship with Corning to make all cover glass for the iPhone and Apple Watch at a Corning plant in Kentucky. That deal is part of what Apple calls its American Manufacturing Program, in which Coherent, GlobalWafers America (GWA), Applied Materials, Texas Instruments (TI), Samsung, GlobalFoundries, Amkor, and Broadcom will also participate. Apple says the program builds on its deal to buy rare earth magnets from MP Materials, a July 2025 deal that was announced shortly after the unusual sale of $400 million of MP Materials’ preferred stock to the U.S. Department of Defense.

Apple continues to be under a lot of political pressure to make its devices in the U.S., despite its prior financial commitments to make components in America. Another $100 billion over four years is a lot, but I suspect this won’t be enough. Instead, I expect we’ll see more of this type of announcement, given how quickly the first half a trillion was followed by another $100 billion.