Apple Inc (NASDAQ:AAPL) shares are trading higher Wednesday following reports that the company will make an investment commitment announcement at the White House.
What To Know: Bloomberg reported that President Donald Trump is set to announce a $100 billion domestic manufacturing commitment from Apple. The plans are aimed at bringing more of the iPhone maker’s supply chain to the U.S. amid tariffs from the Trump administration.
"Today's announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America's economic and national security,” White House spokesperson Taylor Rogers reportedly said in a statement.
Earlier this year, Apple committed to investing over $500 billion in the U.S. over the next four years to support a range of initiatives focused on AI, silicon engineering and skills development. Apple said it would open a new advanced manufacturing facility in Texas and double its U.S. Advanced Manufacturing Fund.
Apple shares have been under pressure this year, down about 16% year-to-date, due to concerns over potential tariff impacts. The company reported third-quarter results last week that exceeded analyst expectations, driven by strong growth in iPhone, Mac and services in all geographic segments.
Apple said last week that its active installed base of devices reached new all-time highs across all products and geographic segments.
How To Buy AAPL Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Apple's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
AAPL Price Action: Apple shares were up 5.4% at $213.90 at the time of publication Wednesday, according to Benzinga Pro.
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