U.S. President Donald Trump has asked Apple Inc (NASDAQ: AAPL) CEO, Tim Cook, to assist in developing 5G wireless networks in the United States.
The two men have formed a working relationship and have spoken on numerous occasions especially about tariffs on Chinese goods which would affect Apple products.
Last week, Trump visited Apple's new facility that will produce Mac computers in Austin, Texas, which is when the conversation supposedly took place. "They have it all - Money, Technology, Vision & Cook!" Trump tweeted.
Unfortunately, Apple has nothing to do with the development of 5G because Apple is not a mobile carrier.
U.S. lawmakers, including Trump, think the United States must have 5G nationwide before China. The United States has warned other nations not to allow Chinese vendor Huawei access to any 5G networks and alleged Huawei's equipment is a tool for spying by Beijing. Congress has considered legislation to give $1 billion to small wireless providers to replace Huawei's equipment.
Verizon (NYSE: VZ), AT&T (NYSE: T), T-Mobile (NASDAQ: TMUS), and Sprint (NYSE: S) are battling to see who will 5G available in as many cities as possible. The four companies recorded total capital expenditures of $55.71 billion during the calendar year 2018, up from $53.72 billion in 2017, according to S&P Global Market Intelligence data. These expenditures include any cash spent to maintain, improve or construct operators' networks, including interest.
Apple is an influencer that can bring attention to 5G technology. The tech company could pressure mobile carrier companies to speed up the development process by releasing 5G enabled products.
Analyst believe the company will bring 5G to their phones next year. Strategy Analytics believes Apple will dominate the 5G smartphone race next year by sells per volume. Apple's embrace of 5G could get the minds of consumers to embrace the technology as well.