FutureFive NZ - Apple's American dream

Warning: This story was published more than a year ago.

Apple's American dream

Apple will officially build computers in the U.S. next year, in a venture expected to cost US$100m.

CEO Tim Cook made the announcement to Bloomberg Businessweek this morning, and while not revealing exactly which products would be manufactured domestically, it is expected to be within the iMac range of computers.

“Next year we’re going to bring some production to the U.S.,” Cook said.

“This doesn’t mean that Apple will do it ourselves, but we’ll be working with people and we’ll be investing our money.”

With Apple's main manufacturer Foxconn based in China, customers were surprised to see recent editions of the new iMac assembled in America.

Yet it is expected the California-based firm will continue down this path during 2013 after losing over 20% of its value of the last three months.

Early this week Forbes magazine reported Apple to be over 43% up year-to-date, but such gains have been diminished by the company's ongoing losses.

Speaking to Benzinga, Paul Schatz, President and Chief Investment Officer of Heritage Capital, said:

"Just because it’s a great company doesn’t mean that it won’t go down in price.

“If $700 was the peak, it maybe gives back half to two-thirds of the rally it made from $90 to $700. That would put it between $300 and $400.”

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