Apple Inc. shares fall 1.20% intraday after announcing a $500 million investment in MP Materials for rare earth magnets.

Apple Inc. declined 1.20% in intraday trading, with the company announcing a $500 million investment in MP Materials, a rare earths mine operator. This investment is part of Apple's broader strategy to localize its mineral supply chain and boost U.S. manufacturing. The deal includes the establishment of a new recycling facility for processing recycled rare earth elements and the development of novel magnet materials and technologies.