Apple claims to spend US$50 billion on US local suppliers in 2016
[Global Scientific Reporter Li Zongze] Apple chief executive Cooke said on February 28 that the company spent about US$50 billion on local suppliers such as 3M (MMM.N) and Corning (GLW.N) in the United States last year. Emphasis on Apple's commitment to manufacturing in the United States.
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Cooke provided data that had never been disclosed before at an annual shareholders' meeting, and it was precisely because of Apple’s pressure to produce iPhones in China from President Trump. Apple also plans to cooperate with Trump on issues such as repatriating overseas profits at low tax rates. Cooke said to the shareholders, "We are always looking for more ways to assist our country. We know that the United States is the root of Apple."
Apple's share price is currently at historically high levels, as iPhone sales are expected to improve this year after falling in 2016. The annual shareholder meeting held at the Apple headquarters of Cupertino vetoed an agent proposal. The content of the proposal was to allow the agent to nominate two directors to the board of directors. This proposal received 31.9% of the votes in favor. Shareholders also rejected the proposal that Apple executives must keep stocks until retirement. The rate of approval for this proposal is 24.2%.
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