Apple has pledged to invest more than $30 billion to expand its US operations in the wake of last month’s US tax cut, even as it makes an estimated $38 billion (€31 billion) one-off tax payment on the repatriation of its overseas profits. The commitment to domestic investment is the largest yet by a US company since US president Donald Trump signed the tax overhaul into law. Mr Trump has often criticised Apple and other large tech companies for their reliance on overseas manufacturing. Apple’s estimated $38 billion one-off tax payment “would likely be the largest of its kind ever made”, the company said on Wednesday. The company’s plan for another new campus comes just months after it opened Apple Park, its spaceship-shaped new headquarters in Cupertino.

Source: The Irish Times January 17, 2018 21:47 UTC