Cook: Apple planning $850M solar farm, Apple Pay outperforming

Feb. 10, 2015 4:11 PM ETApple Inc. (AAPL)By: Eric Jhonsa, SA News Editor130 Comments
  • Tim Cook (NASDAQ:AAPL) states during a Goldman conference talk Apple is partnering with First Solar (FSLR) on an $850M California solar farm. Apple is a week removed from announcing plans to invest $2B to build a Mesa, AZ global "command center" for its data center infrastructure that will run on renewable energy. (live blog, webcast)
  • Cook also states the Apple Pay rollout is "going faster than I thought it would, much faster." Apple has provided few details thus far about total Apple Pay transaction volumes.
  • He asserts once more Apple Watch (set to ship in April) will be a game-changing product, as debate continues to swirl about the size of its market opportunity. "The customizable nature of the Apple Watch is incredible."
  • Apple closed up 1.9%, making new highs and becoming the first U.S. company to post a $700B+ market cap along the way. First Solar closed up 4.8%, spiking in the final minutes of trading thanks to Cook's disclosure.
  • Update: First Solar has issued a PR about the solar project. It's located in Monterey County, and is expected to be finished by the end of 2016 after starting construction in mid-2015. Apple will receive 130MW of electricity through a 25-year power purchase agreement, and PG&E the other 150MW.

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