Shares in Apple climbed on the technology-heavy Nasdaq index at close of play last night (December 6th), after the firm's chief executive announced the company would be looking into moving more of its manufacturing operations to the US.
In an interview with NBC, Tim Cook – who took over the top job after the death of the computer business's revered founder Steve Jobs last year – said one of its Mac lines would be produced exclusively in its home country.
Apple's hardware is mostly assembled in China. Speculation the company was about to shift manufacturing grew when some of its products in its latest line had the words "assembled in USA" inscribed on the back.
Mr Cook said Apple already has products made in the US, including the iPhone, which is made in the world's largest economy and then shipped out for assembly overseas.
At close of play on Wall Street last night, Apple shares rose by 1.5 per cent to $547.24 per share.
Find out about the Nasdaq and spread betting strategies at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.