Apple Inc. shares rise 1.10% intraday after investing $500 million in MP Materials for rare earth magnets.

Apple Inc. rose 1.10% in intraday trading, with the company announcing a $500 million deal with MP Materials for the development of a recycling facility and rare earth magnets to boost production. This investment aims to strengthen the supply chain for rare earth metals in the U.S. and reduce dependence on China. Additionally, Apple TV+ earned a record-breaking 81 Emmy Award nominations, which could positively impact the company's brand and consumer sentiment.