Apple Stock News: Apple Confirms Plans To Further Invest

Apple Stock News

For the latest Apple Stock News, AAPL closed at $153.26 on Wednesday, May 10th, 2017. It had a loss of -0.47% from its previous close of $153.99 per share.

After Apple became the first US company to top $800 billion in value, the tech giant confirmed plans to invest. Apple will invest an additional $1 billion in-to its five-year-old data center in Nevada. The expected hiring of 100 employees and the creation of 300 construction jobs will help stimulate the local economy.

Speculation behind the company’s motivation to expand, stems from desire to increase its iCloud storage capacity and become more self sufficient. Apple’s current predicament finds them splitting cloud infrastructure between data centres of Amazon and its own.

Interesting to note, the Reno Gazette-Journal reports that Apple has more to gain than just increased efficiency. Council has recently approved Apple’s request to build a $4 million shipping and receiving warehouse near downtown Reno. The warehouse expects to bring an additional $6 million in sales tax abatement. Tax rates are at a lower rate, due to the region being classified as a “tourism improvement district.”

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