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Apple Supports Dreamers as Trump Decides on DACA Repeal

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Apple Inc (AAPL - Free Report) continues to support dreamers.

CEO Tim Cook tweeted over the weekend that “250 of my Apple coworkers are #Dreamers. I stand with them. They deserve our respect as equals and a solution rooted in American values.”

Last week, the Cupertino tech giant, along with Amazon (AMZN - Free Report) Facebook (FB - Free Report) and Alphabet’s (GOOGL - Free Report) Google Inc sent a letter to President Donald Trump requesting him not to repeal the Deferred Action For Childhood Arrivals (DACA) plan.

In the letter, these companies appealed that Unless we act now to preserve the DACA program, all 780,000 hardworking young people will lose their ability to work legally in this country, and every one of them will be at immediate risk of deportation. Our economy would lose $460.3 billion from the national GDP and $24.6 billion in Social Security and Medicare tax contributions. Dreamers are vital to the future of our companies and our economy. With them, we grow and create jobs. They are part of why we will continue to have a global competitive advantage.”

The companies have asked Congress to create a “bipartisan DREAM Act or legislation that provides these young people raised in our country the permanent solution they deserve.”

As the decision on DACA nears, it is widely speculated that Trump is likely to end DACA. This will give Congress six months to fix the issue from now, leaving the fate of as a many as 800,000 immigrants in the balance. If DACA is scrapped, dreamers are likely to face deportation.

Trump throughout his election campaign had been against DACA.

Established under the Barack Obama administration in 2012, DACA allows many illegal immigrants who entered United States as minors to receive a renewable two-year period of deferred action and a legal right to work or study in the country. These immigrants are called dreamers.

Zacks Rank and Share Price Movement

At present, Apple carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Notably, the company has outperformed the industry in the past year. Shares of Apple have surged 52.3% compared with the industry’s 50.7% increase.

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