Apple stock was rising Wednesday as investors awaited an announcement from the company later today about building new factories in the U.S.

While Apple is unlikely to start making iPhones in the U.S., investors seem to think that increased manufacturing commitments more generally could help secure better tariff treatment.

Shares of Apple ( NASDAQ: AAPL) surged as much as +6.1% on Wednesday, after several media reports said the tech titan is set to announce a new $100B investment in the U.S. at a White House event later in the day.