Apple CEO Tim Cook and US President Donald Trump at the White House announced an additional $100 billion investment in the manufacturing sector over a four-year period.
In the press conference, Trump described this investment as a major step to ensure that iPhones are sold and made in the US and one of the largest commitments in the country's investment history.
Cook also said that the investment involves cooperation with 10 US companies that produce components such as semiconductor chips for Apple products, appreciating Trump's support.
This investment is part of the American Manufacturing Program to strengthen the supply chain and high-tech production in the country.
Previously, Apple planned to invest $500 billion in the US, but the amount has now increased to $600 billion.
A few months ago, Trump criticized Apple and Cook for moving iPhone production to India to avoid tariffs imposed on China by the Republican administration.
However, Apple has not yet given any full commitment to building iPhones in the US.
The investment now sent Apple shares up 5% on Wednesday, reflecting market confidence that Cook is working to forge a good relationship with the Trump administration.
