US rare earth materials miner MP Materials Corp. stock surged over 25% after announcing a $500 million deal with Apple. Apple committed to buying rare earth magnets for its products to boost its US supply chain. Apple CEO Tim Cook praised the partnership, emphasizing the importance of strengthening US material supply.

Amid pressure from President Trump, Apple faces threats of tariffs on overseas-made iPhones if production isn’t moved to the US. Apple stock rose 1% in trading, down 16% in 2025. MP Materials, up 291% in 2025, gained 100% in the past month following a $400 million investment from the US Department of Defense.

MP Materials went public in 2020 and saw a 291% gain in 2025. The company surged 100% in the past month after a $400 million investment from the US Department of Defense. The US aims to bolster its domestic rare earth magnet supply chain, making MP Materials a key player in the industry.

Read more at Yahoo Finance: MP Materials stock soars after $500 million rare earths deal with Apple