Apple Unveils $350B Investment Roadmap, To Pay Record Tax
Zacks Investment Research | Jan 18, 2018 09:10PM ET
Apple (NASDAQ:AAPL) will pump in $350 billion into the U.S. economy over the next five years, which includes $55 billion for 2018. The iPhone-maker recently announced that it will directly contribute $75 billion in capital expenditures related to manufacturing and tax payment on repatriation of overseas profits.
Apple expects to pay roughly $38 million as repatriation tax (highest by any company) under the new tax law.
Per Bloomberg, Apple will also award Restricted Stock Units (RSUs) worth $2,500 as bonuses to global employees in the coming months.
Apple’s Move In-line With President’s Goal
Apple’s latest announcement is in line with President Trump’s goal of increasing investment in the country’s manufacturing sector. The company has been subject to criticism from Donald Trump for not creating enough manufacturing jobs in the United States and focusing on other nations.
Apple now expects to spend $30 billion in capital expenditure in the country over the next five years. The investment is likely to create 20K jobs. The company employs 84K people in all 50 states.
Moreover, the company plans to build a new campus in a different location that will initially house technical support for customers. The campus will be fully powered by green energy.
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