Dec. 6 - Tim Cook talks about bringing Mac manufacturing to the United States, while Apple shares bounce back after suffering biggest one-day loss in four years. Sasha Salama reports.
Our Power Player today is Tim Cook, CEO of Apple. Cook said Apple plans to bring production of some of its Mac computers back to the U.S. next year from China. That, in an interview with BloombergBusinessweek, Cook says Apple will spend more than $100 million to build the computers in the U.S. Cook is granting his first interviews since taking over Apple following the death of Steve Jobs who created the Apple empire. Cook also told NBC's Brian Williams that only one of the existing Mac lines would be built exclusively in the U.S. - but he didn't say which one. Analysts say labor and transportation costs in China have been on the rise, prompting some U.S. companies to bring some manufacturing back to the U.S. Tim Cook's announcement comes a day after Apple's shares suffered their biggest one-day loss in four years. Apple, which is the world's most valuable listed company, saw its market capitalization fall below $500 billion. Apple's stock has fallen 24% since its peak in late September, on fears about growing competition in the mobile device market.