Apple CEO Tim Cook shares 2 key lessons for leaders

Apple makes $1B commitment toward more US manufacturing jobs

Apple is bringing more of its manufacturing efforts to the US.

"We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus", Apple chief executive Tim Cook said in the earnings release.

Apple will finance the $1 billion manufacturing fund by borrowing against its overseas holdings of $239.6 billion, he said. The company will announce the new fund's first investment later in May.

Cook also said Apple is examining ways to help more people learn the programming skills to make apps. Whilst overall manufacturing employment in the USA has dropped over the past few decades, advanced manufacturing has created around one million jobs.

Apple has almost 80,000 employees in the USA, and now we plan to add thousands more "in the future", according to Cook. The company expects the funds to create more job opportunities in the long run.

During the CNBC interview, Cook told Jim Cramer that the company will hire "thousands of employees" and is "not satisfied with just two million".

Not that Apple doesn't already keep a lot of American workers in iPhones and AirPods.

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What Cook is offering instead is that Apple will announce its first manufacturing-related investment in a yet-to-be-named company later this month.

However, Apple only directly employs about 80,000 people according to its own numbers.

President Trump specifically called out Apple and Cook both on the campaign trail and in an interview with the New York Times shortly after he was elected.

"You know, again, I think with each administration in every country in the world, there are things you disagree and things you agree, and you look to find common ground and try to influence the things you don't."

Cook told CNBC that his company supports domestic job creation and it is willing to back up that support by investing money.

Apple declined to say anything further beyond Cook's comments.

Whether Apple Pay is now a profitable venture or not, Apple has the resources to explore this new market: The company reported total revenues of $52.9 billion for its latest quarter, up from $50.6 billion a year ago.

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