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Apple Inc.'s (NASDAQ:AAPL) latest $100 billion investment in U.S. manufacturing is unlikely to impact product pricing, according to Deepwater Asset Management's Gene Munster, who says iPhone assembly will continue to take place abroad.
As Apple's stock jumped 5.10% on Wednesday after the White House announced a new $100 billion domestic manufacturing plan, Munster took to X, formerly Twitter, to predict where the money will likely go.
"Looks like most of the incremental $100B will be spent with components built in the U.S. through Apple partners," Munster wrote, naming companies like Corning Inc. (NYSE:GLW), Coherent Corp (NYSE:COHR), GlobalWafers, Applied Materials (NASDAQ:AMAT), Texas Instruments (NASDAQ:TXN), Samsung Electronics Co. (OTC:SSNLF), GlobalFoundries Inc. (NASDAQ:GFS), Amkor Technology Inc. (NASDAQ:AMKR) and Broadcom Inc. (NASDAQ:AVGO).
He added, "Doesn't look like they will be assembling phones in the US. This is good news for margins and means price increases because of this announcement are unlikely."
The announcement of Apple's expanded domestic investment aligns with the Donald Trump administration's broader push to bolster U.S. chip and hardware production.
Although Apple is building AI servers in Houston and sourcing chips from Taiwan Semiconductor Manufacturing Co.'s (NYSE:TSM) Arizona plant, iPhone manufacturing remains overseas — a point of contention for Trump.
Apple beat Wall Street expectations with $94 billion in fiscal third-quarter revenue and $1.57 earnings per share. iPhone revenue alone reached $44.58 billion.
To answer rising calls for domestic job creation, Apple last month announced a new Manufacturing Academy in Detroit in partnership with Michigan State University.
The program, launching in August, aims to train U.S. workers in manufacturing and AI.
At the time, Apple COO Sabih Khan said the initiative is part of the company's broader $500 billion commitment to the U.S. economy.
Despite these moves, Trump has continued to pressure Apple CEO Tim Cook to shift iPhone production stateside. Reports say Apple responded to rising tariffs by redirecting nearly all Foxconn, also known as Hon Hai Precision Industry Co., Ltd (OTC:HNHPF), iPhone exports from India to the U.S.
While Trump's tariff threats have escalated—most recently adding a 25% tariff on Indian goods—experts say U.S.-based iPhone production remains unfeasible due to cost.
In May, Wedbush analyst Dan Ives asserted that manufacturing iPhones in the U.S. is “not feasible” and could drive prices up to as much as $3,500.
Munster's comments suggest Apple is protecting its margin structure by keeping final assembly offshore, helping avoid major price hikes for U.S. consumers.
Price Action: Apple Inc. shares climbed 2.81% in after-hours trading to $219.26, as per Benzinga Pro.
Benzinga's Edge Stock Rankings indicate that AAPL continues to exhibit a downward trend across short, medium and long-term periods. More detailed performance metrics are available here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: AAPL AMAT AMKR AVGO COHR GFS GLW HNHPF SSNLF TSM TXN
