Apple Issues its Quadrennial Politicking Press Release ⇥ apple.com

Apple in 2017:

Apple has committed to investing at least $1 billion with US-based companies as part of the [Advanced Manufacturing Fund], which is designed to foster innovative production and highly skilled jobs that will help lay the foundation for a new era of technology-driven manufacturing in the US.

This note was part of a press release announcing a large investment in Corning from this fund, and it began something of a tradition. While Apple has occasionally issued press announcements for similar investments at other times of the year, this one — from the early days of the first Trump administration — was the first in a two-part debut of what has become a tradition.

Apple in 2018 issued what is effectively the second part:

Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products.

Planned capital expenditures in the US, investments in American manufacturing over five years and a record tax payment upon repatriation of overseas profits will account for approximately $75 billion of Apple’s direct contribution.

This one was issued a few months after the Tax Cuts and Jobs Act took effect, containing tax repatriation policies for which Apple successfully lobbied.

Apple in April 2021, not long after the inauguration of Joe Biden:

Apple today announced an acceleration of its US investments, with plans to make new contributions of more than $430 billion and add 20,000 new jobs across the country over the next five years. Over the past three years, Apple’s contributions in the US have significantly outpaced the company’s original five-year goal of $350 billion set in 2018. Apple is now raising its level of commitment by 20 percent over the next five years, supporting American innovation and driving economic benefits in every state. This includes tens of billions of dollars for next-generation silicon development and 5G innovation across nine US states.

Apple today:

Apple today announced its largest-ever spend commitment, with plans to spend and invest more than $500 billion in the U.S. over the next four years. This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and skills development for students and workers across the country.

These press releases are not for the wider public; they are not even directly for investors. They are for politicians and, in particular, whomever is the U.S. president. Apple issued nothing like these releases in 2019 or 2020, and not again from 2022–2024. It is plausible all of these announced investments would have happened regardless of who was president. The press releases are post-election reminders that Apple is a large business with the power to shape swathes of the U.S. and world economy, and they would prefer if their products avoid regulations and tariffs.

It would be useful if somebody were keeping tracking of all the company’s promises, though.