MP Materials stock rips 20% higher after $500 million Apple deal for rare earth magnets
Publishing timestamp: 2025-07-15 13:26:22
Summary
Apple and miner MP Materials are teaming up in a $500 million deal to develop a rare earth magnets recycling facility as part of Apple's pledge to onshore production. Rare earth magnets are crucial components in consumer electronics, cars, and renewable energy systems. The agreement will strengthen Apple's U.S. supply chain and create new manufacturing and research and development roles.
Sentiment: POSITIVE
Keywords: mp materials corp, markets, business news, apple inc, breaking news: technology, energy, breaking news: markets, breaking news: business, transportation, technology, enterprise,
Source: https://www.cnbc.com/2025/07/15/apple-mp-materials-magnets-rare-earths.html