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An Apple store in Hong Kong.


The Market Glance for January 29: Apple Plans to Create 20,000 Jobs

Asif Imtiaz Jan 29, 2018

It is going to be a busy week for tech sector investors as Apple and Alphabet are set to post substantial earnings growth in their Q4 2017 compared to last year. However, investors with exposure to ETFs that track the overall economy will focus on the FOMC statement on Wednesday.

Apple Inc. (AAPL ) recently announced to bring back its overseas cash reserves back to the U.S. after the corporate-friendly tax bill came into effect in 2018. According to a Los Angeles Times report, Apple is planning to bring back $245 billion out of its more than $250 billion in funds stashed outside the country and after paying around $38 billion in taxes. In addition, the tech giant indicated that they it invest another $30 billion over the next five years to create roughly 20,000 jobs. Hence, investors will be keen to examine their Q4 earnings call to see where those investment dollars will eventually land.

In the broader economy, the Fed made bold predictions that the job market may cool down a bit in 2018 and that investors should keep an eye on the FOMC statement on Wednesday to see if policymakers hint about making any changes to their planned interest hikes based on that forecast.

Check out last week’s Market Glance here in which investors focused on a number of economic data releases concerning the housing sector.

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