Apple has recorded its strongest week in over five years, with shares climbing 13% after CEO Tim Cook unveiled a massive plan to boost U.S. manufacturing during a meeting with President Donald Trump.
The tech giant’s stock closed at $229.35 on Friday, up 4% for the day, adding more than $400 billion to its market value. Apple is now worth $3.4 atrillion, ranking as the third-most valuable company globally, behind Nvidia and Microsoft, and ahead of Alphabet and Amazon.
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At the White House on Wednesday, Cook announced Apple’s expanded commitment to invest $600 billion in the U.S. over the next four years. This plan includes major spending on American-made chips and other components, with much of the work focused on strengthening the domestic supply chain for iPhones, Apple Watches, and other products.
President Trump praised the move and confirmed that Apple would be exempt from upcoming 100% tariffs on imported semiconductors. The decision removes a major concern for investors, as Apple had previously warned tariffs could cost the company over $1 billion in the current quarter.
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The strong market reaction also followed Apple’s recent earnings report, which showed a 10% rise in overall revenue and a 13% jump in iPhone sales for the June quarter. Analysts credited Cook with reducing trade uncertainty and securing a deal that benefits both Apple and the U.S. economy.
With this investment plan and tariff exemption, Apple has positioned itself to navigate global trade challenges while strengthening its U.S. manufacturing base.
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