Apple (AAPL) recently announced a 500 billion investment plan in the U.S. to continue expansion, including a new factory in Texas. However, not all investors seem too keen on the proposal. Indeed, UBS analyst David Vogt is expressing doubts about the Apple investment, saying it “lacks substance.”

“While the headline figure on the surface is a large number, we believe it lacks substance at this juncture based on history,” wrote Vogt. The UBS analyst also questioned the financial feasibility of the plan, estimating that hiring 20,000 employees would result in an added $5 billion in operating expenses each year. He also noted that Apple’s current annual data center expenditure is around $10 billion, generating approximately $100 billion in free cash flow, with $90 billion allocated for share buybacks.

Further, Vogt is skeptical about the source of the additional funding for the $125 billion annual investment required by Apple’s new plan. Thus, he considers the plan “completely unrealistic mechanically.”

Also Read: Apple Stock: $500 Monthly Investment in AAPL Turns $56,607 in 5 Years

Apple’s CEO Tim Cook, however, is optimistic about the proposed Apple investment. “We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future,” he said. “From doubling our Advanced Manufacturing Fund to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing. And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”

Apple stock (AAPL) has been up in the past month, with bank firms revising their price predictions per share in a positive direction. Currently trading at $249 at press time, AAPL is up 11% since January 25. If the company is indeed able to make this $500 billion investment happen, Apple (AAPL) stock could reap a huge benefit.