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- 2025-08-06 Apple increases U.S. commitment to $600 billion, announces American Manufacturing Program
Apple today announced a new $100 billion commitment to America, a significant acceleration of its U.S. investment that now totals $600 billion over the next four years.
In the next four years, Apple plans to directly hire 20,000 people in the U.S. — the vast majority focused on R&D, silicon engineering, software development, and AI and machine learning.
The first AMP partners include Corning, Coherent, GlobalWafers America (GWA), Applied Materials, Texas Instruments (TI), Samsung, GlobalFoundries, Amkor, and Broadcom.
The expansion means that soon, every iPhone and Apple Watch sold around the world will be built with Kentucky-made cover glass.
- 2025-07-15 Apple expands U.S. supply chain with $500 million commitment to American rare earth magnets
Today Apple announced a new commitment of $500 million with MP Materials, the only fully integrated rare earth producer in the United States. With this multiyear deal, Apple is committed to buying American-made rare earth magnets developed at MP Materials’ flagship Independence facility in Fort Worth, Texas.
The two companies will also work together to establish a cutting-edge rare earth recycling line in Mountain Pass, California, and develop novel magnet materials and innovative processing technologies to enhance magnet performance.
The commitment is part of Apple’s pledge to spend more than $500 billion in the U.S. over the next four years.
Apple pioneered the use of recycled rare earth elements in consumer electronics, first introducing them in the Taptic Engine of iPhone 11 in 2019. Today, nearly all magnets across Apple devices are made with 100 percent recycled rare earth elements.
Loop Capital analyst Ananda Baruah late Monday said Apple is in the process of placing orders for about $1 billion in Nvidia (NVDA) GB300 NVL72 systems. That equates to about 250 servers at $3.7 million to $4 million each, he said in a client note.
"AAPL is officially in the large server cluster Gen AI game … and &&SMCI & DELL** are the key server partners," he said. "While we are still gathering fuller context, this appears to have the potential to be a Gen AI LLM (large language model) cluster."
Quarterly Earnings
FY2025Q3
For the June quarter, we incurred approximately $800 million of tariff-related costs. For the September quarter, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter and no new tariffs are added, we estimate the impact to add about $1.1 billion to our costs.
we've been investing in private cloud compute, which is also in our first-party data centers. The other piece, as you know, is we do have a hybrid strategy where in cases we do use third parties to make capital investments and we also invest in our own.
We are also reallocating a fair number of people to focus on on AI features within the company that are, you know, we have great team and we're putting all of our energy behind it.
In terms of the tariff situation and country of origin and so forth, one thing I would say just to remind everyone is keep in mind that the vast majority of our products are covered under the Section 232 investigation. And so today, or I should say last quarter, the bulk of the tariffs that we paid were the IEEPA tariffs that hit early in the year related to China. And so that's just a reminder of what things are and what we assumed as we calculated the projection of 1.1 billion that's in our outlook color.
In terms of the country of origin, it's the same as I referenced last quarter. There hasn't been a change to that which is the vast majority of the iPhone sold in the US or the majority, I should say, have a country of origin of India. And the vast majority of the other products, the Mac and the iPad and the watch have a country of origin of Vietnam that are sold in the United States. Still, the products for other international countries, the vast majority of them are coming from China.
What pieces of the chain are commoditized and not commoditized? I wouldn't want to really talk about today because that gives away some things on our strategy. But I think it's a good question.
I would remind you that we do have a hybrid model though where we also leverage third party infrastructure in addition to investing in our own first party infrastructure.
FY2025Q2
Since we launched iOS 18, we’ve released a number of Apple Intelligence features from helpful Writing Tools to Genmoji, Image Playground, Image Wand, Clean Up, Visual Intelligence and a seamless connection to ChatGPT. We made it possible for users to create movies of their memories with a simple prompt and added AI-powered photo search, Smart Replies, priority notifications, summaries for mail, messages, and more. We’ve also expanded these capabilities to more languages and regions.
With regard to the more personal Siri features we announced, we need more time to complete our work on these features so they meet our high-quality bar. We are making progress, and we look forward to getting these features into customers hands.
For the March quarter, we had a limited impact from tariffs as we were able to optimize our supply chain and inventory. For the June quarter, currently we are not able to precisely estimate the impact of tariffs, as we are uncertain of potential future actions prior to the end of the quarter. However, for some color, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter and no new tariffs are added, we estimate the impact to add $900 million to our costs. This estimate should not be used to make projections for future quarters, as there are certain unique factors that benefit the June quarter.
For the June quarter, we do expect the majority of iPhones sold in the U.S. will have India as their country of origin, and Vietnam to be the country of origin for almost all iPad, Mac, Apple Watch, and AirPods products also sold in the U.S. China would continue to be the country of origin for the vast majority of total product sales outside the U.S.
If you look at the category for the June quarter, most of our tariff exposure relates to the February IEEPA-related tariff at the rate of 20 percent, which applies to imports to the U.S. for products that have China as their country of origin. In addition, for China, there was an additional 125% tariff for imports of certain categories of products announced in April, and for us, that’s some of our U.S. AppleCare and accessories businesses and brings the total rate in China for these products to at least 145%.
The vast majority of our products, including iPhone, Mac, iPad, Apple Watch, and Vision Pro, are currently not subject to the global reciprocal tariffs that were announced in April, as the Commerce Department has initiated a Section 232 investigation into imports of semiconductors, semiconductor manufacturing equipment and downstream products that contain semiconductors.
FY2025Q1
FY2024Q4
FY2024Q3
FY2024Q2
We continue to feel very bullish about our opportunity in Generative AI. We are making significant investments, and we're looking forward to sharing some very exciting things with our customers soon.
~ Tim Cook
Given the continued confidence we have in our business now and into the future, our Board has authorized today an additional $110 billion for share repurchases, as we maintain our goal of getting to net cash-neutral over time.
~ Luca Maestri