Apple ups US investments over five years to $430 billion

Apple Inc. is increasing its U.S. investments by 20% over the next five years, allocating $430 billion to develop next-generation silicon and spur 5G wireless innovation across nine U.S. states, after outstripping its growth expectations during the pandemic.

The iPhone maker will create 20,000 new jobs in the U.S. and fund a new campus in North Carolina, the company said in a statement Monday.

Over the past three years, Apple’s investments have outpaced its original five-year goal of $350 billion set in 2018, the company said. But Apple has also been growing.

Its shares have gained about 200% since its last investment plan was announced in January 2018, and the company is now worth more than $2 trillion.