<div id="readability-page-1">Shares of Apple (AAPL -0.17%) jumped higher last week after the company announced it would invest an additional $100 billion to expand its manufacturing capacity in the U.S. The stock also appeared to get a boost from a comment by President Donald Trump, who suggested Apple would be exempt from tariffs he's threatening to levy on imported semiconductors and chips. Even with last week's pop, the stock was down about 7% this year as of Aug. 13. Was there anything shared during Tim Cook's White House visit that could help the stock make up lost ground? Here are three takeaways from Apple's big week. <div><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg1NjAvZ2V0dHlpbWFnZXMtMTQ4OTEyMjI0Mi5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="700" height="525" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg1NjAvZ2V0dHlpbWFnZXMtMTQ4OTEyMjI0Mi5qcGcmdz03MDA"/>Image source: Getty Images </div> <h2>1. Apple takes some tariff risk off the table</h2> With its latest pledge of $100 billion, Apple has publicly committed $600 billion to expand its U.S. manufacturing and supply chain footprint. The initiative, which includes its newly announced American Manufacturing Program, is slated to roll out over the next four years. But it looks like it's bearing fruit already. During Cook's Aug. 6 visit to the Oval Office, Trump reiterated his threat to impose tariffs that would double the prices of imported semiconductors and chips, which are the building blocks for smartphones and modern electronics. However, the president said those tariffs wouldn't apply to companies like Apple that have committed to investing in U.S.-based manufacturing. The company got more good news on tariffs that day. Smartphones will continue to be exempt on Indian imports, which the Trump administration is otherwise bumping up to 50% later this month. That's a big win because most iPhones sold in the U.S. are now assembled in India, and the U.S. is the heart of its largest market. With its $600 billion reshoring commitment, the company appears to have bought some tariff relief -- above and beyond the costs it will avoid by increasing its reliance on domestic manufacturing. Tariffs have been weighing on the stock this year, so it's not surprising that the shares rallied on last week's news. <h2>2. For now, iPhones won't be made in America</h2> Trump has stated that iPhones sold in America should be manufactured in America. In May, he threatened to slap a 25% tariff on any company that produces U.S.-bound smartphones internationally. But at last week's press event, Cook said iPhones will continue to be manufactured abroad. While the dream of a made-in-America iPhone goes back several administrations, analysts insist it's just not feasible due to the lack of skilled workers and the high costs of labor in the U.S. Instead, Apple is focusing on producing more components for iPhones and other products in the U.S., mainly by expanding its partnerships with suppliers such as Texas Instruments, Applied Materials, GlobalFoundries, and Broadcom. Corning, another established Apple supplier, will dedicate its entire Harrodsburg, Kentucky, factory to making Apple components, thanks to a $2.5 billion investment from Cook's company. The plant will produce all the cover glass for iPhones and Apple Watches -- a first for Apple. The two companies will open a new research and development center at the Kentucky plant as well. At the White House event, Cook declared that his company is creating &#34;an end-to-end silicon supply chain&#34; in America, &#34;from design to equipment to wafer production to fabrication to packaging.&#34; The company estimates that 19 billion American-made chips will be produced for Apple products in 2025. There's a lot to unpack in Apple's U.S. manufacturing plans. But overall, investors should feel confident that the company is in a strong position to manage tariff risk. Its $600 billion reshoring pledge strengthens its domestic supply chain and builds political goodwill, which could be a competitive advantage if the trade war escalates. And the size of the company's investment pledge seems to be enough to appease Trump -- thus keeping an American-made iPhone off the table, at least for now. <h2>3. Apple has the right leader to navigate tariff turmoil</h2> Tim Cook's steady leadership was on full display last week, showcasing his supply chain expertise and political savvy. Before being named chief executive officer in 2011, he spent years as the company's operations guru, optimizing a complex global supply chain that now spans more than 50 countries. That experience is paying dividends as Apple navigates escalating tariffs and geopolitical uncertainty. Zooming out from tariff complexities and trade tensions, the company's market capitalization has grown from $350 billion in 2011 to more than $3 trillion today with Cook at the helm. Even with an $800 million tariff hit in Apple's fiscal 2025 third quarter, diluted earnings per share increased 12% compared to the year-ago period. The company also reported record third-quarter revenue. In my opinion, last week's high-profile White House visit was a reminder that Cook has the diplomatic chops to maintain productive relationships with world leaders and the business acumen to keep Apple positioned for growth in a challenging trade environment. </div>

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Shares of Apple surged after the company announced a $100 billion investment to expand U.S. manufacturing, totaling $600 billion. President Trump indicated that Apple would be exempt from tariffs on imported semiconductors due to this commitment. Despite this, iPhones will still be manufactured abroad, focusing on U.S.-made components instead. Tim Cook's leadership is crucial in navigating tariff challenges, with Apple's market cap growing significantly under his tenure. Overall, the investment strengthens Apple's domestic supply chain and mitigates tariff risks.

- Apple announced a $100 billion investment to expand its U.S. manufacturing capacity, raising its total commitment to $600 billion.  
- During Tim Cook's visit to the White House, President Trump indicated that Apple would be exempt from tariffs on imported semiconductors, which could positively impact the stock.  
- Despite challenges, Cook's leadership and the company's strategic investments position Apple to manage tariff risks effectively while continuing to grow its market presence.

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