Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it.
Reportedly, Apple is set to contribute $2.5B in an effort to improve California’s housing crisis meeting availability and affordability needs.
“Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel a profound civic responsibility to ensure it remains a vibrant place where people can live, have a family and contribute to the community. Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution,” stated Tim Cook, Apple’s CEO.
Apple’s housing drive is reported to include real estate & money that will be used for loans and direct contributions. The program to include benefits of $1B to offer affordable housing investment fund along with the state of California. Apple will provide $300M for the development of Apple-owned land for affordable housing and $150 million to be pushed for the Bay Area affordable housing fund.
Apple informed that the funding initiative will take about two years to come in action, also the tech giant is looking for private developers to join the drive.
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