Apple to invest $1 billion in new Austin campus

Stephanie Keith | Getty Images

Tim Cook, CEO of Apple unveils new products during a launch event at the Brooklyn Academy of Music on October 30, 2018 in New York City. Apple debuted a new MacBook Air, Mac Mini and iPad Pro. 

Apple will invest $1 billion in a new campus in Austin, Texas, the company announced on Thursday.

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Apple shares have been under pressure in recent months amid worries about demand for its new iPhones. The tech titan has also been in the crosshairs of the trade war between the U.S. and China. President Trump threatened to place a 10 percent tariff on iPhones and laptops made in China last month. Apple’s stock has tumbled more than 20 percent over the past three months.

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