JPMorgan says Apple delivered a 'masterclass' in managing geopolitics. Apple has raised its U.S. investment plans to $600 billion over the next four years, up from a previously announced $500 billion, amid ongoing concerns about tariffs and geopolitical tensions. The expanded commitment, announced alongside a slate of new initiatives, 'flips the narrative' on the overhang on the shares related to tariff uncertainty. Apple positions itself as having 'the least tariff-associated risk relative to Hardware peers.' Key details include the launch of a new American Manufacturing Program (AMP), expanded relationships with 10 U.S. suppliers, and major investments to build an end-to-end domestic silicon supply chain. Apple also pledged to hire 20,000 workers in the U.S., mostly in R&D, software development, AI, and chip engineering. The supplier list includes Corning, Coherent, MP Materials, GlobalWafers, Texas Instruments, Applied Materials, Samsung, GlobalFoundries, Amkor, and Broadcom. Apple and Tim Cook delivered a masterclass in managing uncertainty after months of overhang on the shares. The bank noted that the level of detail provided pushes back speculation on whether these investments would materialize in time. While final assembly remains outside the U.S., Apple's reallocation of global investments helps sidestep the potential impact of proposed 100% tariffs on semiconductors.

JPMorgan says Apple delivered ’masterclass’ in managing geopolitics

Apple has increased its U.S. investment plans to $600 billion over four years, up from $500 billion, amid concerns over tariffs and geopolitical tensions. The company launched the American Manufacturing Program (AMP), expanded relationships with 10 U.S. suppliers, and pledged to hire 20,000 U.S. workers in R&D, software, AI, and chip engineering. JPMorgan praised Apple's strategy for managing uncertainty related to tariff risks.