Apple CEO Tim Cook one of few US execs expected to attend China investment conference amid tensions
Trip marks first time Cook has traveled to China in approximately 3 years
Original Apple iPhone from 2007 set to sell at auction
Goldin Auctions founder Ken Goldin shows off some unique sports and tech items up for auction on 'Varney & Co.'
Apple CEO Tim Cook is attending a Chinese business forum in Beijing this weekend, one of the few U.S. business leaders slated to make an appearance.
Cook will be attending the China Development Forum — an annual conference sponsored by the Chinese Communist Party, according to China Daily and Bloomberg.
APPLE REPORTEDLY PLANNING $1B IN ANNUAL SPENDING TO BRING FILMS TO THEATERS
Chief Executive Officer of Apple Tim Cook arrives at the White House to attend a state dinner honoring French President Emmanuel Macron, in Washington, D.C. (Photo by ROBERTO SCHMIDT/AFP via Getty Images / Getty Images)
This year marks the forum's return after the COVID-19 pandemic and presents an opportunity for Western business leaders to enjoy face time with high-ranking Chinese officials.
The Apple CEO is already in China — he made a public appearance at an Apple Store in Sanlitun, Beijing on Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 169.30 | -1.03 | -0.60% |
Pfizer CEO Albert Bourla will also be in attendance, as well as the founder of Bridgewater Associates, Ray Dalio, according to reports.
APPLE POSTS DISAPPOINTING FIRST QUARTER RESULTS
Deputies to the 13th National People's Congress attend the second plenary meeting of the fourth session of the 13th National People's Congress at the Great Hall of the People in Beijing. (VCG/VCG via Getty Images / Getty Images)
Shares of movie theaters moved higher on a report that Apple is planning to invest as much as $1 billion annually to make films to be shown to shown on the big screen.
Bloomberg reported the amount the Thursday, attributing the information to unnamed sources "familiar with the company’s plans," which are reportedly still being hammered out.
Movies that Apple will release in theaters could potentially see a minimum of one-month runs in cinemas, according to Bloomberg.
CLICK HERE TO GET THE FOX BUSINESS APP
Tim Cook attends the Apple original series "Ted Lasso" season 3 red carpet premiere event at Westwood Village Theater in Los Angeles. (Emma McIntyre/WireImage / Getty Images)
Additionally, the company behind iPhones and Apple TV+ has reportedly been reaching out to Hollywood studios in connection to the plans.
FOX Business reached out to Apple for comment on Cook's trip, but has not received a response.
FOX Business' Aislinn Murphy contributed to this report.