Apple (AAPL) CEO Cook Affirms Bringing 'Some' Mac Production to U.S. in FY13
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Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 2.7%
Revenue Growth %: +11.2%
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Apple (Nasdaq: AAPL) shares are active in early trading amid release of a new Bloomberg interview with CEO Tim Cook. The interview is slated to be published in the December 10th issue of BusinessWeek.
Mostly, questions center somewhat around Cook's thoughts on the late Steve Jobs, though various topics were covered. Cook did field a question on U.S. manufacturing plans:
BW Question: "You were instrumental in getting Apple out of the manufacturing business. What would it take to get Apple back to building things and, specifically, back to building things in the U.S.?"
[Apple CEO Tim] Cook: "It’s not known well that the engine for the iPhone and iPad is made in the U.S., and many of these are also exported -- the engine, the processor. The glass is made in Kentucky. And next year we are going to bring some production to the U.S. on the Mac. We’ve been working on this for a long time, and we were getting closer to it. It will happen in 2013. We’re really proud of it. We could have quickly maybe done just assembly, but it’s broader because we wanted to do something more substantial. So we’ll literally invest over $100 million. This doesn’t mean that Apple will do it ourselves, but we’ll be working with people, and we’ll be investing our money" [emphasis ours].
Shares of Apple are indicated lower at the start Thursday. Again, be sure to read the latest BusinessWeek for the full, lengthy interview.
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Mostly, questions center somewhat around Cook's thoughts on the late Steve Jobs, though various topics were covered. Cook did field a question on U.S. manufacturing plans:
BW Question: "You were instrumental in getting Apple out of the manufacturing business. What would it take to get Apple back to building things and, specifically, back to building things in the U.S.?"
[Apple CEO Tim] Cook: "It’s not known well that the engine for the iPhone and iPad is made in the U.S., and many of these are also exported -- the engine, the processor. The glass is made in Kentucky. And next year we are going to bring some production to the U.S. on the Mac. We’ve been working on this for a long time, and we were getting closer to it. It will happen in 2013. We’re really proud of it. We could have quickly maybe done just assembly, but it’s broader because we wanted to do something more substantial. So we’ll literally invest over $100 million. This doesn’t mean that Apple will do it ourselves, but we’ll be working with people, and we’ll be investing our money" [emphasis ours].
Shares of Apple are indicated lower at the start Thursday. Again, be sure to read the latest BusinessWeek for the full, lengthy interview.
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