fabrication jobs ( any jobs , really ) are a hot - release topic these days , and our President has made no secret of his desire for big society , and Apple in special , to make more products here . In a Wednesday interview with Jim Cramer on CNBC’sMad Money , Apple CEO Tim Cook announced that Apple is creating a fund to promote advanced manufacturing in the United States , and seeding it with $ 1 billion to set out .
CBNC.com has the television and a ended transcriptof the wide - lay out conversation , and it ’s worth a watch . These are the point that most piqued our interest — OK , and one that just made us laugh .
On creating jobs
Cramer asked Cook direct up , “ You ’re a huge party . What are you doing to create jobs ? ”
Cook respond that Apple had created 2 million jobs in the U.S. , a stat he ’d also mentioned inTuesday ’s Q2 earnings call . But this time he break it down , and course those workers are n’t all wear Apple logos on their shirt . Still , a mint of them are : Cook spoke of 25,000 employees doing R&D ; 6,000 at Apple ’s facility in Austin , Texas ; plus all the employees at Apple ’s retail stores . That ’s nowhere near 2 million , but Cook also look U.S. supplier who make constituent here , like Corning glass and 3 M adhesives used in iPhones and iPads .
Cook also give Apple credit for its huge developer residential area . “ And this developer residential district is almost 1.5 million people now , ” he say . “ These are folk from really lowly business enterprise , a party of one , to larger fellowship . And they ’re writing apps that deepen the world . And we ’re give them the platform . And we ’ve created an incredible store that allows them to sell their intersection in 155 countries in the earth . It ’s a really unconvincing empowering experience as a young business . ”
Apple already put in the developer community in dissimilar ways , from its new developer center in India to smaller gestures like offeringWWDC scholarshipsand letting newbie developers tinker with Xcode before paying for the Developer Program . Cook also told Cramer that Apple would be lay more money behind teach citizenry to code , with announcements to fall this summer . ( Bet on WWDC . )
But Cook run low on : “ In the other class , manufacture , we asked ourselves , ‘ How can we get more multitude to do advanced manufacture in the United States ? ’ And I ’m proud to tell you that we ’re creating an advanced manufacture investment trust . We ’re initially put $ 1 billion in the fund . ”
The stock will endue in small American companies make up product here . Cook said Apple would announce the first investiture from the fund this month . Apple could focus on companies that make components , but we selfishly go for the store ’s investments take to more advanced accessory for our preferred Apple gadgets , like smart bands for the Apple Watch , new kinds of HomeKit devices , or wireless institutionalize accoutrement .
On taxes
When Cramer pointed out the $ 1 billion in seed money is a small slice of Apple ’s $ 256 billion cash second-stringer , Cook pointed out that to get $ 1 billion in Johnny Cash in the U.S. , Apple would have to take up some of it . “ It ’s $ 1 billion of our U.S. money , which we have to borrow to get . That ’s another whole topic , ” he said .
The other topic , of course of action , is taxis . Most of Apple ’s cash reserves are halt oversea , and Trump has address about a deal to let American companionship in a like post bring some of that cash home while getting a open frame on the taxis .
Cramer bear on , “ You know , President Trump ’s saying , ‘ we ’ve got to give him repatriation . Who know what he ’ll do with all that money over there . We ’ve got to give them the tax break . ’ I think , would you work closely with the President to get some of these thing done so that you may do more business conception ? ”
Cook ’s response was affirmative , of course . “ I actually think comprehensive tax reform is so important to this saving . If you think about it , many , many party now sell globally . If you sell globally , you earn money globally . If you garner money globally , you ca n’t bring it back into the United States unless you ante up 35 percent plus your state tax . And you look at this and you go , ‘ this is kind of flaky . ’ You require people to apply this money in the United States to commit more . ”
“ We are in a good berth , but an strange one , ” Cook keep . “ Our good position is we can borrow . And so to invest in the United States , we have to adopt . This does n’t make signified on a wide footing , and the governance , you saw that they ’re really buzz off this , and desire to fetch this back . And I go for that that comes to go across . ”
Hinting at new products?
Apple does n’t talk about product in the grapevine , but that does n’t bar every interviewer from asking anyway . Cramer asked about everything . Tim except every time .
“ gondola ? ” Cramer taste .
“ I ca n’t say , ” Cook replied . “ I ca n’t say that . ”
When Cramer take about Health , Cook mentioned losing 30 pounds with the assistant of his Apple Watch , then Cramer quickly moved on to artificial intelligence . Captain James Cook : “ I do n’t want to get into detail , but there ’s a lot more there . ”
Cook himself then brought up augmented reality , but only to give his undefined stock answer : “ This is something we ’re really frantic about . ”
Cramer even played the Dad Card , pleading with Cook for the release escort of the next iPhone , “ because I want to get my daughter a fresh phone . I just call for to know when . ” ( Nice effort , Cramer — does any parent reallywantto get their kid a new phone ? Or did he intend he want his own raw phone and will give his old one to the kid ? )
Cook told him to get an iPhone 7 or 7 Plus .
