Apple spent roughly $50 billion in 2016 at U.S.-based suppliers

News Hour:

Apple spent roughly $50 billion last year at U.S.-based suppliers including 3M and Corning, Chief Executive Tim Cook said on Tuesday, stressing the iPhone-maker’s commitment to U.S. manufacturing.

Speaking at an annual shareholder meeting, Cook gave the previously undisclosed data at a time when Apple has come under pressure from President Donald Trump for building its iPhones in China. Apple also wants to work with Trump on issues like bringing back its offshore profits at lower tax rates, reports Reuters.

“We’re always looking for more ways to help our country. We know that Apple can only exist in the U.S.,” Cook told shareholders.

Apple’s stock is trading at record highs on expectations of improved iPhone demand this year following a decline in sales in 2016.

Shareholders at the meeting at Apple’s headquarters in Cupertino, California defeated a proxy proposal that would have let them nominate two directors on the company’s board. The proposal won 31.9 percent of votes.

Shareholders also defeated a proposal to require Apple executives to retain their shares until they retire. That vote won 24.2-percent support.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Banglalink and Facebook jointly launched the campaign "Learn More, be More"
SRK as Satyajit Ray! Here is the truth behind the poster
Anurag Kashyap shoots Kubra Saith 7 times nude and made her cry for frontal nudity scene [Video]
Samsung launches Victory day campaign “Haater Muthhoy Bijoy Ullash” in Bangladesh
Grameenphone brings in the iPhone 11 series in Bangladesh

Advertisement

News of the Month

Scroll Up
%d bloggers like this: