Apple sees $350B in U.S. investments over 5 years

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Job creation was a key pillar of Trump's election campaign.

After the $38 billion tax payment is subtracted, that leaves its new investment at roughly $37 billion over the next five years. "You can't have an announcement of a million jobs".

A new part of the GOP tax law has some of the United States' biggest companies, from Apple to Goldman Sachs, already reporting major losses.

The high-tech company said the jobs offer a benefits package with "comfort, convenience and a no-hassle commute".

Stocks have had a huge move upward since Donald Trump's election, closing above 26,000 for the first time Wednesday.

Erich Schlegel/Austin American-StatesmanAUSTIN, TX - AUGUST 25, 2017 - Apple CEO Tim Cook, right, visits with Senior Specialist Rachel Brown while visiting the company's Austin campus.

The repatriation will also see Apple, seen by critics as one of the planet's worst tax avoiders, pay a massive $US38 billion ($48 billion) in tax to the United States federal coffers.

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St James Investment Ltd Liability Company holds 8.3% or 907,434 shares in its portfolio. 3,444 are held by Optimum Inv Advisors. A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock.

Apple had earlier said it planned $16bn in capital expenditures in 2018, up from about $15bn in the prior year.

Between the spending plan, hiring 20,000 staff, tax payments and business with Stateside suppliers, Apple estimated it would spend around €287bn in the USA over the next five years. "And Apple hasn't historically done big M&A", he said.

Amazon has narrowed down the list of potential cities to host its second quarters to 20, a day after rival tech giant Apple revealed plans for its second campus.

Besides hiring more workers and building its second campus, Apple is also planning to open more data centers to help back up the photos, documents and other content that people store on their phones, tablets and computers. It did trumpet its company-wide intentions to create 20,000 jobs over the next five years while adding $350 billion to the us economy. "From the people who manufacture components for our products to the people who distribute and deliver them, Apple directly or indirectly supports hundreds of thousands of", Apple says on the page.

Already by far the most valuable company in the world, Apple is now within spitting distance of becoming the world's first trillion U.S. dollar company.

Earlier on Wednesday, Taoiseach Leo Varadkar signalled that the Government - which is obliged to collect the Apple money even though both it and the U.S. group are appealing a 2016 European Union decision that the taxes are owed in the first place - does not expect to start collecting the money until the second quarter of this year.

"What's not said in this release is that there is more potential for increased buybacks for shareholders and acquisitions that might not have taken place if it were not for the cash influx from overseas", Olson said.