Feb 13 2013, 10:16am CST | by Mark Raby
Last night, President Obama gave one of his many high-concept speeches to the nation at large, he made sure to mention at least a couple specific companies as beacons of the US economy. And guess what? Apple was one of them.
In his speech, Obama noted, "This year, Apple will start making Macs in America again." It was the part of the speech in which the president talked about how bringing manufacturing back to the United States was of paramount importance.
Obama also mentioned the companies Caterpillar, Ford, and Intel as examples of corporate titans who were bringing jobs back to the country after first shipping them overseas.
Of course, in the tech world, the reference that made the biggest wave was Apple. The company has actually been in decline for the last few months, stepping down from its brief time as the most valuable company in the world.
Nevertheless, Obama wanted to make sure Apple got the nod it was owed. In fact, CEO Tim Cook was actually in the audience in Washington, DC, sitting next to none other than Michelle Obama.
Cook first announced the plan to bring more jobs back to the US in December, saying it would cost the company about $100 million to do so.
It's part of a still unraveling plan to put the company back on an upward swing. Even though the stock price has fallen off a cliff, it's still sitting atop a much higher cliff than most companies can dream of, so there is certainly still an opportunity to push the momentum back in the other direction.
With more than 10 years as a professional writer, Mark Raby has an undeniable pulse on the latest trends. From the quiet rumors to the breaking news of the day, his eagle eye is always focused on the newest scoop and figuring out how and why the big newsmakers are noteworthy and relevant. He is based in New York City.
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