Apple stock rises again after Trump and CEO Tim Cook appear at the White House to tout U.S. investment

President Trump and the tech industry are continuing their dance of give and take. This time, it’s Apple doing the appeasing. On Wednesday, August 6, CEO Tim Cook announced that Apple would invest $100 billion toward U.S. manufacturing.

The money comes alongside another $500 billion that the iPhone maker pledged in February, all of which is meant to be spent in the next four years.

At the time, Apple claimed that it would fund a 250,000-square-foot manufacturing facility in Houston, Texas, slated to open in 2026. It also devoted some of the funds to hiring 20,000 new U.S.-based employees, primarily in fields such as AI, machine learning, R&D, silicon engineering, and software development.

‘We took that challenge very seriously’

On Wednesday, Cook alluded to Trump’s push for more than that original investment. 

“President Trump shared some kind words about that work, but he also asked us to think about what more we could commit to doing,” Cook stated. “Mr. President, we took that challenge very seriously.” 

The Oval Office photo-op included an ostentatious moment in which Cook presented Trump with a glass plaque featuring Apple’s logo, sitting atop a 24-karat-gold base. The gift is, of course, made in America. 

Apple’s investors appear pleased with the additional pledge. Shares of the company’s stock rose more than 5% throughout Wednesday, closing at $213.25.

Shares continued to spike during after-hours and into premarket trading on Thursday, reaching over $220. 

However, the tech company’s stock still hasn’t fully recovered from the significant tumble it took following Trump’s tariff announcements.

It hit a low of $169.21 on April 8, less than a week after Trump’s “Liberation Day” and a trade war with China, where about 80% of iPhones are made, the New York Times estimates. That represented a drop of around 35% from its record-high price of about $260 in December.