Apple, MP Materials
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Apple (AAPL, Financials) is investing $500 million to secure rare earth magnets from MP Materials (MP, Financials), doubling down on its U.S. supply chain as pressure mounts from President Donald Trump to bring iPhone production stateside.
The moves by Apple and the Pentagon are part of a broader U.S. push to nearshore rare earth supply chains. Earlier this year, President Trump proposed annexing Greenland, an autonomous Danish territory estimated to contain $4.4 trillion worth of rare earth reserves. Vice President JD Vance made a surprise visit in support of the plan.
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
MP Materials (MP) has made significant announcements recently, including the completion of a follow-on equity offering of nearly $650 million and new high-profile partnerships with Apple and the Department of Defense.
MP Materials shares remain in focus after soaring 20% yesterday on news that Apple plans to invest $500 million in the rare earths firm, news that came just days after the Department of Defense took a stake in the company.
2don MSN
MP Materials Corp., a rare earth materials company, is seeing its stock price rise on news of a major commitment from tech giant Apple.
MP Materials is America’s only fully integrated rare earth producer with capabilities ranging from mining to end products. Learn more about MP stock here.
MP Materials, which has the only operational rare earths mine in the U.S., has drawn interest as a challenger to China's dominance from investors ranging from the Pentagon to tech giant Apple in recent days.