Apple will move manufacturing of some Mac computers back to the US next year, the first time in more than a decade that its products will be made as well as designed in America, its chief executive said yesterday.
Tim Cook told Bloomberg Business Week that Apple would invest more than $100m in reshoring a small portion of manufacturing in 2013.
The news tempered losses on Apple's stock, which fell more than 6 per cent on Wednesday, amid a range of fears that include a potential increase in US taxation of Apple’s overseas profits. After opening 2 per cent lower yesterday – taking its valuation below $500bn for the first time since March – Apple shares rose 1.72 per cent to $548.04 in lunchtime trading in New York.
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