Will Apple Inc. (AAPL) Really Build 3 New US Factories?

Trump said Apple's Tim Cook 'promised' him he'd build three US factories, says report

The US President told the Wall Street Journal that Apple CEO Tim Cook had called him to say the iPhone-maker would do more manufacturing domestically and promised the three big plants.

Despite Donald Trump's claims to The Wall Street Journal, Apple won't be building three factories in the United States anytime soon. Why? In an interview with The Wall Street Journal, Trump said that Cook promised to build "three big plants, lovely plants", in US. This is why it's quite likely that either Trump did not understand what Cook said or the Apple CEO never made such promises, to begin with.

Apple hasn't released an official statement on Trump's interview.

In May, Cook said in an interview with CNBC that it will invest $1 billion to create manufacturing jobs in the United States. A Foxconn factory isn't necessarily an Apple factory.

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It's also possible Mr. Trump was referring to new factories under consideration from the companies that make iPhones or parts used to make iPhones and other Apple gadgets. During the campaign last year، President Trump made repeated calls for American companies to produce more in the USA in order to create jobs and revive the manufacturing sector. In the entire world, Apple now owns exactly one manufacturing plant: its plant where it assembles iMacs in County Cork, Ireland.

If Apple does relocate a portion of its production to the USA, the Journal predicts the cost of an iPhone would likely rise $30-$40.

Building Apple factories in the US could have some big positives for AAPL stock. The president said in Time Magazine after the election previous year, that he wanted Apple to build its best plant ever in the U.S. Recently, Apple invested $200 million in Corning, iPhone cover glass supplier. This would be a fraction of the kind of operations Foxconn carries out in China where some of its facilities hold upwards of 100,000 workers.

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