President-elect Trump met with Apple CEO Tim Cook, which he announced at his Make America Great Again Victory Rally on Sunday, saying Cook is planning to make an investment in the U.S., following DAMAC and SoftBank.
President-elect Trump on the eve of his inauguration says he spoke with Apple CEO Tim Cook and teased a potential move by the world’s most valuable company.
“I spoke with Tim Cook of Apple. He said they’re going to make a massive investment in the United States because of our big election win,” he said during his Make America Great Again Victory Rally on Sunday in Washington D.C.
Apple did not immediately respond to FOX Business’ request for comment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 229.98 | +1.72 | +0.75% |
This wouldn’t be the first time the two have worked together. In 2019, during Trump’s first term, Cook was a member of the American Workforce Policy Advisory Board.
Then-President Trump talks to Apple CEO Tim Cook during the American Workforce Policy Advisory Board’s first meeting in Washington on March 6, 2019. (AP Photo/Manuel Balce Ceneta)
Since winning the electoral and popular vote on Nov. 5, Trump has secured two major investments in the U.S. First, SoftBank is promising $100 billion to create 100,000 jobs.
“This historic investment is a monumental demonstration of confidence in America’s future. And it will help ensure that artificial intelligence, emerging technologies and other industries of tomorrow are built, created and grown right here in the USA,” Trump announced in December.
President-elect Trump delivers remarks beside SoftBank Chair and CEO Masayoshi Son at Mar-a-Lago in Palm Beach, Fla., on Dec. 16. (Reuters/Brian Snyder)
The second is a $20 billion commitment from DAMAC to build data centers.
“I’m thrilled to announce today that DAMAC will be investing at least $20 billion over a very short period of time into the United States, and they may go double or even somewhat more than double that amount of money. That’s a great thing,” Trump said.
The first phase of the data center project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.
Since the election, many CEOs have broken bread with Trump at his Mar-a-Lago home in Florida, including Meta’s Mark Zuckerberg, Google’s Sundar Pichai and Walmart’s Doug McMillion.
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Trump also spoke of rising optimism in the economy, small business confidence at a 39-year-high and the stock market. Since his win, the S&P 500 has advanced nearly 4%, the Dow Jones Industrial 3% and the Nasdaq Composite 6%.
He also noted Bitcoin’s run. The largest crypto by market value is trading north of $100,000 as of Sunday evening.
As for Apple, its shares have advanced more than 20% during the past 12 months and recently flirted with a valuation of $4 trillion before pulling back from that milestone.
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FOX Business’ Eric Revell and Fox News’ Greg Norman contributed to this report.
