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Apple invests $500 million to source critical iPhone material from the U.S.
UNITED STATES, JUL 15 – Apple and the Pentagon partner with MP Materials to build new U.S. recycling and manufacturing facilities, supporting domestic rare earth magnet production and advanced manufacturing jobs.
- Apple has signed a $500 million deal with MP Materials to secure a domestic supply of critical magnets for iPhone production, backed by the U.S. Department of Defense.
- Production of the magnets will begin at MP's Fort Worth, Texas facility in 2027, which is crucial for components like iPhone vibration motors.
- Apple will pre-pay $200 million to ensure a stable supply amid geopolitical uncertainty, reducing dependency on Chinese manufacturing.
- This agreement supports Apple's broader commitment to invest over $500 billion in the U.S. over the next four years.
187 Articles
187 Articles
Apple just spent $500 million to source a material that’s critical for iPhones from the U.S.
Apple is investing $500 million in a deal with US rare earths company MP Materials as the iPhone maker faces pressure from President Donald Trump to produce its popular smartphones domestically.
No disruption in iPhone production, Apple signs agreement with rare earth material producer
MP Materials has recently announced a significant agreement worth $500 million with tech giant Apple. It is the operator of the only rare earths mine in the United States. This deal aims to boost the production of powerful magnets that are essential for iPhones and other high-tech items, including electric vehicles. Although they're called 'rare earth elements,' these materials aren't actually that rare. The tricky part is finding them in enough…
Cupertino's giant has chosen MP Materials as his partner for the next generation of mobiles, computers and all kinds of devices.
Apple is betting heavily on local industry by committing hundreds of millions of dollars to strengthen its supply chain
MP Materials Spikes After-Hours — Here's Why The Stock Is Trending Tonight - Apple (NASDAQ:AAPL), MP Materials (NYSE:MP)
Following a $500 million deal with Apple Inc (NASDAQ: AAPL) to provide rare earth materials, MP Materials Corp (NYSE: MP) stock is trending on Wednesday.
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