CEO Tim Cook will join President Donald Trump in the Oval Office for an announcement touting an update to the company's stated plans to spend and invest in the U.S. It's scheduled for 4:30 p.m. ET.
Apple will raise its previous commitment, made in February, from $500 billion to $600 billion over the next four years, a White House official told CNBC.
It will also announce a new manufacturing effort called the American Manufacturing Program, the official said.
Apple shares rose 5% during trading on Wednesday.
Cook has had a mixed relationship with Trump over the past year. While Trump has praised the Apple CEO in the past, in recent months he has said he has a "problem" with the executive and has pushed for Apple to assemble its iPhones in the U.S., not China or India.