Apple up as White House official says company to pledge $100 billion for US manufacturing

** Shares of iPhone maker Apple AAPL.O up 4.2% at $211.35

** White House official says AAPL will announce a domestic manufacturing pledge of $100 bln on Wednesday that will focus on bringing more manufacturing to the U.S.

** This comes as President Donald Trump pursues an aggressive tariff agenda to shift manufacturing back to the U.S.

** "Today's announcement is a savvy solution to the President's demand that AAPL manufacture all iPhones in the U.S.," says Nancy Tengler, CEO and CIO of Laffer Tengler Investments

** AAPL did not immediately respond to requests for comment

** Previously, co forecast current-quarter revenue well above estimates, despite warning from CEO Tim Cook that U.S. tariffs would add $1.1 bln in costs over the period

** Including session's gains, AAPL shares down nearly 16% YTD