The Apple CEO said his company’s recent $600 billion investment to build factories across the U.S. will create a “domino effect,” boosting manufacturing in the country.
“We can’t be everywhere. I wish we could, but we are putting $600 billion to work in the next four years,” Cook told CNBC’s Jim Cramer during a TV interview on Monday. “And so it is an extraordinary commitment.”
Cook suggested Apple’s “extraordinary commitment” over the next four years to build 79 factories in the states could bring more businesses to the communities they are built in.
“That’s the ripple effect,” Cook said. “There will be more companies coming. It’s a domino effect kind of thing.”
Apple has manufactured iPhones outside the U.S. since the product’s inception in 2007, with the vast majority of assembly taking place in China at massive Foxconn facilities. Foxconn, a Taiwanese multinational electronics contract manufacturer, has a Zhengzhou plant that alone employs roughly 350,000 workers, produces up to 500,000 iPhones a day, and helps drive large-scale economic growth in central China.
