Apple, MP Materials
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MP Materials launches $500M stock offering
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Apple said on Tuesday it would invest $500 million into rare earths mine operator MP Materials, as the iPhone maker seeks to localize its mineral supply chain. The investment is part of a broader push to bring the production of its coveted iPhones to the United States and boost U.
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MP Materials Corp., a rare earth materials company, is seeing its stock price rise on news of a major commitment from tech giant Apple.
MP Materials, operating the only U.S. rare earths mine, has secured a $500 million deal with Apple to produce magnets for iPhones and other tech products. This follows the U.S. Defense Department's $400 million investment in MP,
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Apple is expected to announce a $500 million commitment to MP Materials, the operator of the only U.S. rare earths mine, Fox Business reported on Tuesday, citing multiple sources familiar with the deal.
An Historic Public-Private Partnership The U.S. Defense Dept. announced yesterday it was making a multibillion-dollar investment in MP Materials (NYSE:MP), the sole operator of the rare earth mineral mine in California.
MP Materials Corp. (NYSE:MP) is one of the 10 Stocks That Investors Are Dumping. MP Materials dropped its share prices by 3.72 percent on Wednesday to end at $30.03 apiece as investors sold off positions following the recent stock rating downgrade from an investment firm.