Apple Plans To Create 20000 Jobs And Build New Campus

Shareholders likely to see most of AAPL's repatriated cash, say analysts, with $88B benefit [Update]

Apple Plans To Create 20000 Jobs And Build New Campus

Apple said it would invest more than US$30 billion in capital expenditure and create more than 20,000 new jobs. That figure includes its spending with domestic suppliers and manufacturers, which Apple estimates will be $55 billion for 2018; the company said it excludes Apple's ongoing tax payments, taxes from employees' wages and the sale of products.

It will also build a new campus - focused on technical support for customers - in a location to be announced later this year, the company said.

"Financial analyst Gene Munster told NPR, "[Apple's] testing have found that people really want to talk to someone for support that's based in the country that they're calling from and so Apple their biggest base so they want to accommodate that.

Let's not ignore that Apple has to pay taxes on overseas earnings whether it brings the money back to the United States or not.

"With Apple & Cook set to repatriate roughly $200 billion of cash based on our estimates we believe accelerated buybacks, another dividend hike, and potentially larger M&A will be the trifecta of benefits shareholders could expect to see in 2018", the research note read.

For years Apple Inc. has been criticized for outsourcing manufacturing to China.

Apple, already the largest USA taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law.

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So far, Apple has announced it will open one new campus this year.

He says the company has always felt a big sense of responsibility to give back to the country and the people who have made its success possible. It came on the day when Apple broke ground on a new facility in Reno which will support existing facilities in the state of Nevada.

Apple's promise to pay $38 billion in repatriation taxes has been taken by many as a commitment that the company would return home more than a quarter-trillion dollars it now has overseas.

Apple plans to take advantage of that provision to bring back most of its approximately US$252 billion in offshore cash, generating a tax bill of about US$38 billion.

In Wednesday's statement, Apple also said it would increase its Advanced Manufacturing Fund from US$1 billion to US$5 billion.

The iOS app economy has created more than 1.6 million jobs in the U.S. and generated $5 billion in revenue for American app developers in 2017.

Apple also plans to invest in helping get students ready for the App Economy.

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