Apple (AAPL) and Corning (GLW) announced a major expansion of their long-standing partnership to make precision glass for Apple products. Apple is making a new $2.5 billion commitment to produce all of the cover glass for iPhone and Apple Watch in Corning’s Harrodsburg, Kentucky, manufacturing facility. This means that 100 percent of the cover glass on iPhone and Apple Watch units sold worldwide will be made in the U.S. for the first time. These projects are part of Apple’s broader commitment to spend and invest more than $600 billion in the U.S. economy over the next four years. This includes Apple’s newly announced American Manufacturing Program (AMP), which will invest across America and incentivize global companies to onshore production and manufacture even more of Apple’s critical components in the United States. “Corning is a storied American company, and we’re thrilled to work together to build the largest and most advanced production line ever created for smartphone glass,” said Tim Cook, Apple’s CEO. “Thanks to the power of American manufacturing, any customer anywhere in the world who buys a new iPhone or Apple Watch will be holding precision glass made right here in Kentucky. We’re grateful to the President and his administration for their support for American manufacturing, and we’re excited for the innovation this investment will unlock.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- AMD, PYPL, CRWD: Three Outperforming AI Analyst Stocks
- Disney reports Q3 beat and NFL deal, Uber authorizes $20B buyback: Morning Buzz
- Apple Stock (AAPL) Surges on New $100B U.S. Investment Drive
- Trump Trade: U.S. proposes easing some restrictions on drones
- Trump, Apple to announce new $100B U.S. investment, Bloomberg reports