Under pressure to reduce its reliance on Chinese factories for economic and human-rights reasons, the $2.9 trillion company is pulling its supply chain closer to home in ways that could boost the U.S. economy. In May, it announced a multibillion-dollar deal with semiconductor producer Broadcom for radio-frequency chips and other wireless components that will be made at facilities in Colorado and elsewhere domestically. It’s part of Apple’s plan to invest $430 billion in the U.S. over five years, likely with generous aid from the federal CHIPS Act. “All of Apple’s products depend on technology engineered and built here in the United States,” CEO Tim Cook said in a press release, touting the “ingenuity” of U.S. manufacturing.
An earlier version of this article misstated Apple’s valuation; its market cap is $2.9 trillion, not $394 billion.
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