Apple is significantly expanding its commitment to domestic production, announcing an additional $100 billion investment in U.S. manufacturing over the next four years. This brings the company's total investment to $600 billion, fueling its American Manufacturing Program (AMP). The initiative aims to strengthen the nation's supply chain infrastructure and foster growth in domestic manufacturing.
Key partners Corning and Coherent will see their roles expanded within Apple's ecosystem. Corning will produce 100% of the cover glass for iPhones and Apple Watches at its Kentucky facility, increasing its local workforce by 50%. Coherent will continue manufacturing VCSEL lasers essential for iPhone and iPad devices at its Texas facility. These strategic expansions are expected to enhance both companies' positions within Apple's supply chain. The market has responded positively, with Corning's stock rising 1.92% and Coherent's stock increasing by 3.46%, reflecting confidence in Apple's onshoring strategy.
This broad investment aligns with a national context of revitalizing U.S. manufacturing. The CHIPS and Science Act of 2022, for example, has allocated approximately $50 billion to boost advanced semiconductor manufacturing, with projections indicating a potential tripling of U.S. semiconductor manufacturing capacity by 2032. Apple's investment, alongside national efforts, signals a concerted push towards greater technological sovereignty and economic resilience. Furthermore, Apple plans to hire 20,000 new employees across the U.S. in the coming years, focusing on research and development, silicon engineering, and software development.