Apple said it will bring hundreds of billions of overseas dollars back to the U.S., pay about $38 billion in taxes on the money and spend tens of billions on domestic jobs, manufacturing and data centers in the coming years.
The iPhone maker plans capital expenditures of $30 billion in the U.S. over five years and will create 20,000 new jobs at existing sites and a new campus it intends to open, the company said Wednesday in a statement. Apple's shares gained about 1% to $178.32 at 2:51 p.m. in New York.
“We are focusing our investments in areas where we can have a direct impact on job creation and job preparedness,” CEO Tim Cook said in the statement, which alluded to unspecified plans by the company to accelerate education programs.
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