Apple’s stock surged 13% this week, its largest weekly gain in more than five years, after CEO Tim Cook appeared alongside U.S. President Donald Trump at the White House to unveil a sweeping plan to invest $100 billion in American companies and parts over the next four years.
Shares jumped 4% on Friday to close at $229.35, adding more than $400 billion to Apple’s market capitalization, which now stands at $3.4 trillion. The rally marks Apple’s best weekly performance since July 2020, placing it firmly as the world’s third-most valuable company behind Nvidia and Microsoft, and ahead of Alphabet and Amazon.
The high-profile White House event on Wednesday saw Cook pledge that Apple will source significantly more components domestically — including American-made chips — in a move that directly aligns with Trump’s trade and industrial policy goals. The president, who has long pressed U.S. corporations to bring manufacturing back onshore, praised Apple’s commitment and declared that because the company was “building in the U.S.,” it would be exempt from future tariffs that could otherwise double the cost of imported chips.
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That assurance is a strategic win for Apple. The company had warned in July that it faced over $1 billion in tariff-related costs in the current quarter if trade rules remained unchanged. Trump’s protection effectively shields Apple from those immediate threats, calming investor fears about how tariffs could squeeze margins.
“Apple and Tim Cook delivered a masterclass in managing uncertainty after months and months of overhang relative to the potential challenges the company could face from tariffs,” said JP Morgan analyst Samik Chatterjee, who reiterated an overweight rating on the stock.
The announcement comes just two weeks after Apple reported strong June quarter earnings, with overall revenue up 10% and iPhone sales rising 13%, underscoring momentum heading into the second half of the year.
Beyond the market reaction, Cook’s $100 billion pledge carries significant political and economic weight. For the White House, it is a major validation of Trump’s push to realign global supply chains, particularly in strategic industries like semiconductors. Washington has spent years urging U.S. companies to diversify away from China — a policy intensified under Trump, who has combined tariff threats with incentives to manufacture domestically.
For Apple, the move signals a potential reconfiguration of its global supply chain. While the company has long relied heavily on Chinese manufacturing for its flagship products, increasing geopolitical friction and supply chain vulnerabilities exposed during the pandemic have accelerated the search for alternative production bases. Cook’s announcement suggests that Apple will lean more heavily on U.S. suppliers while still balancing its extensive network in Asia, potentially shifting some higher-value manufacturing stages to American soil while keeping mass assembly in cost-competitive regions abroad.
Economists note that this dual-track approach could allow Apple to mitigate tariff risks, tap into federal incentives from recent manufacturing and chip production bills, and position itself as a corporate partner in Trump’s broader “America First” industrial strategy, without entirely abandoning its entrenched overseas manufacturing footprint.
If successfully executed, the pledge could reshape Apple’s long-term operational model, increasing its exposure to U.S. manufacturing capacity and further embedding the tech giant into the political calculus of Washington’s trade and industrial policy for years to come.