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BUZZ-Apple plans to spend more than $500 bln in US over next four years, shares down

Reuters
2025/02/24
BUZZ-Apple plans to spend more than $500 bln in US over next four years, shares down

** Apple's AAPL.O shares down 1.3% at $242.37 premarket

** The iPhone maker plans to spend more than $500 bln in the U.S. over the next four years

** Company also plans to help bring online a factory in Texas by 2026 to build AI servers and will add about 20,000 research and development jobs across the U.S.

** Apple will work with Hon Hai Precision Industry's 2317.TW Foxconn to build a 250,000-squre-foot facility in Houston, where it will assemble servers that go into data centers to power Apple Intelligence

** Up to last close, AAPL shares have risen ~35% in the past 12 months

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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