Apple, Fort Worth and MP Materials
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Cryptopolitan on MSNMP Materials surges to 52-week high on securing $500m Apple contractApple and MP Materials unveiled a $500 million deal to bolster the iPhone maker’s domestic supply chain for rare‑earth magnets.
Apple's latest investment in a company that manufactures rare earth magnets in Fort Worth signals a significant shift in the tech giant's supply chain strategy, with implications for both the local economy and national manufacturing.
Shares of MP Materials gained 20%, closing at $58.22, a record closing high. Apple stock rose 0.2%, while the S&P 500 and Dow Jones Industrial Average fell 0.4% and 1%, respectively.
MP Materials is building a new permanent magnet factory in Alliance, part of greater Fort Worth, Texas. This is part of a $700 million investment to re-shore a critical but often overlooked part ...
The stock of MP Materials (MP) has hit an all-time high a day after consumer electronics giant Apple (AAPL) disclosed plans to invest $500 million in the operator of the only rare earths mine in America.
MP Materials has a large amount of cash at hand and strong demand for rare earth magnets, with new partnerships announced. Read why I'm rating MP stock a buy.