Emerging Technology

The accelerated commitment will fund a new North Carolina campus and job-creating investments in innovative fields like silicon engineering and 5G technology

Apple® today announced an acceleration of its US investments, with plans to make new contributions of more than $430 billion and add 20,000 new jobs across the country over the next five years. Over the past three years, Apple's contributions in the US have significantly outpaced the company's original five-year goal of $350 billion set in 2018. Apple is now raising its level of commitment by 20 percent over the next five years, supporting American innovation and driving economic benefits in every state. This includes tens of billions of dollars for next-generation silicon development and 5G innovation across nine US states.

"At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states," said Tim Cook, Apple's CEO. "We're creating jobs in cutting-edge fields — from 5G to silicon engineering to artificial intelligence — investing in the next generation of innovative new businesses, and in all our work, building toward a greener and more equitable future."

Today, Apple supports more than 2.7 million jobs across the country through direct employment, spending with US suppliers and manufacturers, and developer jobs in the thriving iOS app economy. Apple is the largest taxpayer in the US and has paid almost $45 billion in domestic corporate income taxes over the past five years alone.

Apple's $430 billion in contributions to the US economy include direct spend with American suppliers, data center investments, capital expenditures in the US, and other domestic spend — including dozens of Apple TV+℠ productions across 20 states, creating thousands of jobs and supporting the creative industry.

Establishing a New North Carolina Campus

As part of its investments and expansion, Apple plans to invest over $1 billion in North Carolina and will begin construction on a new campus and engineering hub in the Research Triangle area. The investment will create at least 3,000 new jobs in machine learning, artificial intelligence, software engineering, and other cutting-edge fields.

Apple will also establish a $100 million fund to support schools and community initiatives in the greater Raleigh-Durham area and across the state, and will be contributing over $110 million in infrastructure spending to the 80 North Carolina counties with the greatest need — funds that will go toward broadband, roads and bridges, and public schools. When up and running, Apple's investments are expected to generate over $1.5 billion in economic benefits annually for North Carolina.

Expanding Apple's US Operations

Apple is on track to meet its 2018 goal of creating 20,000 new jobs in the US by 2023. With today's new commitment, Apple is setting a target of creating 20,000 additional jobs in states across the country over the next five years.

  • California: Apple continues to expand its teams across the state and now expects to grow its San Diego team to more than 5,000 employees by 2026 — a 500 percent increase from its 2018 goal. The company will also grow its teams in Culver City to more than 3,000 employees by 2026, expanding its state-of-the-art campus with additional space for these employees and more.
  • Colorado: Apple is growing its engineering team in Boulder, and expects to have close to 700 employees at its offices in the region by 2026.
  • Massachusetts: In 2018, Apple announced it would add hundreds of new jobs in the Boston metro area. With around 200 team members already working in the region, Apple plans to add several hundred new jobs by 2026.
  • Texas: Construction for Apple's $1 billion Austin campus is underway, with employees expected to start moving into the new space next year.
  • Washington: Apple's LEED (Leadership in Energy and Environment Design) Platinum office space in Seattle's South Lake Union neighborhood recently opened for the company's 1,000 local employees, with plans to add at least another 1,000 team members.
  • Iowa: The design process is underway for Apple's new data center, which is expected to create over 500 construction and operations jobs in Waukee. Apple is supporting community infrastructure programs, including the creation of Triumph Park, a 66-acre recreation area.

Apple has also surpassed its 2018 hiring commitments in Miami, New York, Pittsburgh, and Portland, Oregon.

As Apple grows its teams and operations in the US, the company is committed to doing so in an environmentally responsible manner with a focus on renewable energy and green innovation. To date, nearly 60 of Apple's US sites are LEED certified. Apple is carbon neutral for all of its operations in the US and around the world, and last year committed to be 100 percent carbon neutral for its entire supply chain and products by 2030.

Creating American Jobs with Manufacturers and Suppliers Nationwide

Apple's $430 billion US investments include working with more than 9,000 suppliers and companies large and small in all 50 states, supporting American job creation across dozens of sectors, including silicon engineering, 5G, and manufacturing.

To foster innovation and growth in the sector, Apple launched its $5 billion Advanced Manufacturing Fund in 2017. Awards from the fund have led to breakthrough innovations in laser technology, sustainable material development, 5G infrastructure, and other cutting-edge fields.

  • Indiana: A new $100 million Advanced Manufacturing Fund investment to open a state-of-the-art facility and distribution center in Clayton, which will be operated by XPO Logistics, will accelerate delivery timelines and personalization. The award is expected to create around 500 jobs at the facility.
  • Kentucky: Corning was the first recipient of an award from Apple's Advanced Manufacturing Fund, and has received $450 million to support research and development into state-of-the-art glass processes, equipment, and materials. These awards led to the creation of Ceramic Shield™, a new material that is tougher than any smartphone glass. Apple's investment has helped support more than 1,000 jobs across Corning's US operations in Kentucky and other facilities.
  • Texas: Apple began working with II-VI in Sherman, Texas, in 2017 as part of the company's Advanced Manufacturing Fund. The laser technology that II-VI manufactures in Texas, New Jersey, Pennsylvania, and Illinois are integral components that help power Face ID®, along with Memoji™, Animoji®, and more.
  • California, Colorado, Maine, Massachusetts, New York, Oregon, Texas, Vermont, and Washington: Apple is spending tens of billions of dollars across these nine states in silicon engineering and 5G technology — two pivotal fields shaping the future of next-generation consumer electronics. With the launch of the 5G-enabled iPhone® 12 lineup and the new iPad Pro®, Apple has helped expand and expedite 5G adoption across the country, driving innovation and significant job growth among companies that support 5G innovation and infrastructure. The company also recently expanded its New Silicon Initiative — designed to prepare students for careers in hardware engineering and silicon chip design — to engineering programs at Historically Black Colleges and Universities across the country.

Apple is also making industry-leading investments in new clean energy projects and green technology in the US and around the world. Just last month, Apple announced a massive new US energy storage project in California's Monterey County — joining other energy storage projects the company has invested in, including its microgrid at Apple Park.

Apple continues to be a clean energy leader through its $4.7 billion Green Bond spend, with recent investments in solar and wind projects in Nevada, Illinois, and Virginia — bringing clean energy and high-paying jobs to local communities across the country.

Apple also continues to support jobs in the innovative iOS app economy, which facilitated $138 billion of commerce in 2019 in the US alone. More than 85 percent of those proceeds go straight to third-party developers. Today, the App Store® supports more than 2.1 million US jobs across all 50 states.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about Apple's plans for future investments and expansion. These statements involve risks and uncertainties, and actual results may differ. More information regarding potential risks and other factors that could affect Apple's financial results is included in Apple's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Apple's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. Apple assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple 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 five software platforms — iOS, iPadOS, 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 we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or call Apple's Media Helpline at (408) 974-2042.

© 2021 Apple Inc. All rights reserved. Apple, the Apple logo, Apple TV+, Ceramic Shield, Face ID, Memoji, Animoji, iPhone, iPad Pro, and App Store are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Josh Rosenstock
Apple
jrosenstock@apple.com
408-862-1142

Rachel Wolf Tulley
Apple
rachel_tulley@apple.com
408-974-0078

Apple Media Helpline
media.help@apple.com
(408) 974-2042

News Provided by Business Wire via QuoteMedia

BlackBerry Provides Long-term Financial Targets

BlackBerry Limited (NYSE: BB; TSX: BB) today provided its long-term financial targets in connection with its annual analyst summit event.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

The company released the following guidance:

  • Revenue Targets:

FY22

Actual

FY25

Target

FY27

Target

5-year
CAGR


$M

$M

$M

%

IoT*

178

307

443

20%

Cybersecurity

477

579

770

10%






Total BlackBerry**

655

886

1,213

13%






* Excludes potential revenue from BlackBerry IVY™


** Excludes revenue from Licensing & Other for comparability









The Company is targeting:

  • An average 100+ basis points increase in non-GAAP gross margin per year to FY27.
  • Non-GAAP operating margin of approximately 20% by FY27.
  • Investing approximately 30% of revenue on Research & Development in FY23.
  • To be modestly non-GAAP EPS and cashflow negative in FY23 due to investment plans.
  • To be approaching breakeven non-GAAP EPS and cashflow in FY24.
  • To generate positive non-GAAP EPS and cashflow beginning in FY25.

IoT:

  • IoT Serviceable Addressable Market (SAM) is expected to grow at approximately 8-12% per year from FY23 to FY26.
  • Revenue growth for the IoT business unit is expected to exceed the market growth rate resulting in an increase in market share above the current level of 26% in core automotive domains.
  • Revenue from production-based royalties is expected to grow faster than revenue from the pre-production design phase, increasing the portion of total revenue from royalties.
  • The SAM for BlackBerry IVY is expected to be approximately $800 million in FY25.
  • BlackBerry is targeting its first IVY design wins in FY23.

Cybersecurity:

  • The SAMs for endpoint security and managed cybersecurity services are expected to grow at 15% and 14%, respectively, per year to FY27.
  • Revenue for the Cybersecurity business unit, excluding UEM, is expected to grow with a 5-year CAGR of approximately 16% to FY27.
  • Churn in the UEM customer base is expected to negatively impact revenue and Annual Recurring Revenue (ARR) in FY23, but the impact is expected to become less significant from FY24 onwards.
  • Approximately 20% of the UEM customer base is in non-core verticals, and those customers, representing annual revenue in the region of $40 million , are exhibiting higher than average churn.
  • Approximately 64% of the Cylance customer base currently buys 1 Cylance module, and approximately 27% buy 2 modules. Management is targeting selling additional modules to these customers.

The presentation used during the financial session of the analyst summit, held at 4pm ET today, can be found on the BlackBerry.com/Investors website here .

A replay of the financial session will also be available on the BlackBerry.com/Investors website at approximately 8pm ET today.

This press release refers to certain non-GAAP measures. The company believes that these non-GAAP measures, which may be defined differently by other companies, explain the company's results of operations in a manner that allows for a more complete understanding of the underlying trends in the company's business. However, these measures should not be viewed as a substitute for those determined in accordance with GAAP.  For a reconciliation between the non-GAAP measures used in this presentation and measures determined in accordance with GAAP, and an explanation of why the company uses them, please see the company's annual report on Form 10-K, which is available on the EDGAR, SEDAR and BlackBerry.com websites.

For more information, follow @BlackBerry on Twitter , Facebook or LinkedIn and view the company's corporate video which highlights how BlackBerry addresses today's enterprise security challenges.

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including over 195M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Investor Contact:
BlackBerry Investor Relations
+1 (519) 888-7465
investorrelations@blackberry.com

Media Contact:
BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@blackberry.com

This news release contains forward-looking statements within the meaning of certain securities laws, including under the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding BlackBerry's plans, strategies and objectives including its expectations with respect to increasing and enhancing its product and service offerings.

The words "expect", "anticipate", "estimate", "may", "will", "should", "could", "intend", "believe", "target", "plan" and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances, including but not limited to, BlackBerry's expectations regarding its business, strategy, opportunities and prospects, the launch of new products and services, general economic conditions, the ongoing COVID-19 pandemic, the Russia Ukraine conflict, competition, and BlackBerry's expectations regarding its financial performance.  Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, risks related to the following factors: BlackBerry's ability to enhance, develop, introduce or monetize products and services for the enterprise market in a timely manner with competitive pricing, features and performance; BlackBerry's ability to maintain or expand its customer base for its software and services offerings to grow revenue or achieve sustained profitability; the intense competition faced by BlackBerry; the occurrence or perception of a breach of BlackBerry's network cybersecurity measures, or an inappropriate disclosure of confidential or personal information; the failure or perceived failure of BlackBerry's solutions to detect or prevent security vulnerabilities; BlackBerry's continuing ability to attract new personnel, retain existing key personnel and manage its staffing effectively; litigation against BlackBerry; BlackBerry's dependence on its relationships with resellers and channel partners; acquisitions, divestitures and other business initiatives; the impact of the COVID-19 pandemic; network disruptions or other business interruptions; BlackBerry's ability to foster an ecosystem of third-party application developers; BlackBerry's products and services being dependent upon interoperability with rapidly changing systems provided by third parties; BlackBerry's ability to obtain rights to use third-party software and its use of open source software; failure to protect BlackBerry's intellectual property and to earn expected revenues from intellectual property rights; BlackBerry being found to have infringed on the intellectual property rights of others;  the substantial asset risk faced by BlackBerry, including the potential for charges related to its long-lived assets and goodwill; BlackBerry's indebtedness; tax provision changes, the adoption of new tax legislation or exposure to additional tax liabilities; the use and management of user data and personal information; government regulations applicable to BlackBerry's products and services, including products containing encryption capabilities; environmental, social and governance expectations and standards; the failure of BlackBerry's suppliers, subcontractors, channel partners and representatives to use acceptable ethical business practices or comply with applicable laws; regulations regarding health and safety, hazardous materials usage and conflict minerals; foreign operations, including fluctuations in foreign currencies; adverse economic, geopolitical and environmental conditions; the fluctuation of BlackBerry's quarterly revenue and operating results; the volatility of the market price of BlackBerry's common shares; and rising inflation.

These risk factors and others relating to BlackBerry are discussed in greater detail in BlackBerry's Annual Report on Form 10-K and the "Cautionary Note Regarding Forward-Looking Statements" section of BlackBerry's MD&A (copies of which filings may be obtained at www.sedar.com or www.sec.gov ). All of these factors should be considered carefully, and readers should not place undue reliance on BlackBerry's forward-looking statements. Any statements that are forward-looking statements are intended to enable BlackBerry's shareholders to view the anticipated performance and prospects of BlackBerry from management's perspective at the time such statements are made, and they are subject to the risks that are inherent in all forward-looking statements, as described above, as well as difficulties in forecasting BlackBerry's financial results and performance for future periods, particularly over longer periods, given changes in technology and BlackBerry's business strategy, evolving industry standards, intense competition and short product life cycles that characterize the industries in which BlackBerry operates. Any forward-looking statements are made only as of today and the company has no intention and undertakes no obligation to update or revise any of them, except as required by law.

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SOURCE BlackBerry Limited

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BlackBerry and Magna Collaborate on Next-Generation Advanced Driver Assistance System Solutions for Global Automakers

BlackBerry Limited (NYSE: BB; TSX: BB) and Magna International Inc. (TSX: MG; NYSE: MGA) have entered into a multi-year agreement to collaborate on various integrated Advanced Driver Assistance Systems (ADAS) solutions.

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

With OEMs launching vehicles with ever expanded feature sets, the global ADAS market is set for significant growth over the next decade.

As part of the agreement, BlackBerry will provide Magna with QNX software including the QNX Software Development Platform , QNX OS for Safety , QNX Platform for ADAS , as well as professional engineering services for system-level integration, performance optimization, and solution validation.

"Magna's ADAS expertise and unique ability to integrate system solutions into various vehicle applications gives us a competitive advantage," said Sharath Reddy , Senior Vice President Magna Electronics.  "Additionally, collaborating with companies like with BlackBerry helps us with speed to market."

"It's a great pleasure to work with another Canadian company – and global market leader in the automotive market. Our collaboration brings together both company's software and functional safety strengths as part of a platform that is already being delivered to multiple global OEMs," said John Wall , SVP and Co-Head, BlackBerry Technology Solutions. "With software now being a driving force in the automotive industry, delivering compelling solutions that are seamlessly integrated into a vehicle allows OEMs to differentiate themselves.  We are excited to be working with Magna, a fast-moving company on the cutting edge of ADAS, as the technologies undergo rapid adoption and expansion driven by a number of regulatory mandates that are on the horizon."

For more information on how BlackBerry QNX can help with building the safe and secure vehicles of tomorrow, please visit: BlackBerry.QNX.com .

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 195M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BLACKBERRY, EMBLEM Design and QNX are the trademarks or registered trademarks of BlackBerry Limited, its subsidiaries and/or affiliates, used under license, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.

ABOUT MAGNA

Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 343 manufacturing operations and 91 product development, engineering and sales centers spanning 28 countries.

For further information about Magna, please visit www.magna.com or follow us on Twitter @MagnaInt.

Media Contact:

BlackBerry Media Relations
+1 (519) 597-7273
mediarelations@BlackBerry.com

Magna Media Relations
Tracy Fuerst , Vice President, Corporate Communications and PR
+1 (248) 761 7004
tracy.fuerst@magna.com

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SOURCE BlackBerry Limited

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AMD and Qualcomm Collaborate to Optimize FastConnect Connectivity Solutions for AMD Ryzen Processors

AMD (NASDAQ: AMD) and Qualcomm Technologies, Inc. a subsidiary of Qualcomm Incorporated (NASDAQ: QCOM), today announced a collaboration to optimize the Qualcomm® FastConnect™ connectivity system for AMD Ryzen™ processor-based computing platforms, starting with AMD Ryzen™ PRO 6000 Series processors and the Qualcomm® FastConnect™ 6900. With the FastConnect 6900 system, the latest AMD Ryzen processor-powered business laptops feature Wi-Fi® 6 and 6E connectivity, including advanced wireless capabilities enabled with Windows 11.

In collaboration with Microsoft, next-generation Windows 11 PCs, such as the Lenovo ThinkPad Z Series and HP EliteBook 805 Series , can harness the full potential of Windows 11 Wi-Fi Dual Station through Qualcomm® 4-Stream Dual Band Simultaneous. Multiple Wi-Fi bands outperform traditional single band connections for improved video conferencing experiences, reduced latency, and enhanced connection robustness. Leveraging the 6 GHz band, next-gen laptop users can take full advantage of its bandwidth and speed improvements without competing with any non-6E devices.

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Apple Previews Innovative Accessibility Features Combining the Power of Hardware, Software, and Machine Learning

Software features coming later this year offer users with disabilities new tools for navigation, health, communication, and more

Apple® today previewed innovative software features that introduce new ways for users with disabilities to navigate, connect, and get the most out of Apple products. These powerful updates combine the company's latest technologies to deliver unique and customizable tools for users, and build on Apple's long-standing commitment to making products that work for everyone.

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BlackBerry Helps Drive Railway Improvements with Safety Certification

QNX OS for Safety 2.2 to be certified to industry's highest railway functional safety standard level

Today at the 61 st Annual RSSI C&S Exhibition BlackBerry Limited (NYSE: BB; TSX: BB) announced that its QNX® OS for Safety 2.2 will be certified to the highest Safety Integrity Level (SIL) 4, of the functional safety standard for the railway industry EN 50128 from the European Electrotechnical Committee for Standardization (CENELEC).

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