Apple has revealed that it's ramping up research and development spending by $1.5 billion this year and cutting capital expenditures by $1 billion. The spending changes were revealed in an SEC filing.
A company spokesperson told the WSJ that Apple lowered the forecast because it was able to spend more efficiently for tooling equipment and facilities. “There are no changes in our product plans,” she said.
Obviously, Apple didn't reveal what its increased R&D budget was for; however, there have been several rumors of late that Apple is working on a self-driving electric car.
"The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company’s core business strategy," Apple said in the filing.
Read More [via BI]
A company spokesperson told the WSJ that Apple lowered the forecast because it was able to spend more efficiently for tooling equipment and facilities. “There are no changes in our product plans,” she said.
Obviously, Apple didn't reveal what its increased R&D budget was for; however, there have been several rumors of late that Apple is working on a self-driving electric car.
"The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company’s core business strategy," Apple said in the filing.
Read More [via BI]