Cook Says Factories Will Spark Growth

Apple Inc. AAPL CEO Tim Cook said the company’s record $600 billion investment in U.S. manufacturing over the next four years will benefit 79 factories nationwide and spark a “domino effect” of growth, as early data points to strong iPhone 17 demand.

Cook Says Factories Will Spark Growth

In an interview with CNBC’s Jim Cramer that was published on Monday, Cook focused on Apple’s unprecedented domestic investment plan.

“We can’t be everywhere. I wish we could, but we are putting $600 billion to work in the next four years,” Cook said. “And so it is an extraordinary commitment. And there’s 79 factories across the U.S. that will benefit from this.”

Cook added that Apple’s factory buildout could encourage other corporations to follow.

It might encourage others to build their own factories in these communities, creating a “domino effect,” he said, hinting there will be “some surprises” for towns not yet aware Apple is headed their way.

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Corning Partnership And Training Programs

Cook highlighted Apple’s $2.5 billion investment to expand its partnership with Corning and its Kentucky glass plant, which supplies glass for all iPhones and Apple Watches.

He called it a “great start, and a very important one, because the glass is something you interface with all the time.”

The CEO also noted Apple’s role in preparing workers for high-tech jobs, pointing to the company’s new “Manufacturing Academy” in Detroit.

He said Apple is sharing training programs with community colleges to help small and medium-sized businesses.

Shareholders Back Apple’s Bet

Despite the enormous price tag, Cook said investors have voiced support. “I think most of our shareholders believe that we’re in the best position to make these type of decisions,” he told Cramer. “I haven’t gotten a single complaint about the $600 billion.”

iPhone 17 Pre-Orders Track Ahead Of iPhone 16

Apple’s latest smartphone lineup is also giving investors reason for optimism. JPMorgan analyst Samik Chatterjee said in a note that iPhone 17 pre-orders are “tracking modestly ahead” of the iPhone 16 in the U.S., China, Germany and the U.K.

The iPhone 17 base and Air models are seeing the strongest demand, with delivery lead times ranging from seven to 15 days, compared to shorter waits for the iPhone 16 during the same period.

Priced at $799 — the same as the iPhone 16 but with upgrades including a larger 6.3-inch display, ProMotion support and doubled base storage — the iPhone 17 is seen as offering improved value to consumers.

Price Action: According to Benzinga Pro, Apple shares have declined 5.48% year-to-date, while the S&P 500 has advanced 12.47% during the same timeframe.

Benzinga’s Edge Stock Rankings indicate that AAPL maintains a strong trajectory across short, medium and long-term horizons. Investors can find more in-depth performance insights here.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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