An SEC filing by Apple shows that the company plans to increase this year’s spend on product development by $1.5B, reaching a total of $5.9B by the end of September, reports Business Insider. At the same time, Apple is cutting its forecast capital expenditure by $1B, which the company told the WSJ was due to efficiency savings.
A company spokeswoman said 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.
Apple explores a great many potential new product ideas, and the increased spend on product development could conceivably indicate that the company is choosing to invest more heavily in one of these, BI speculating that it may be the long-rumored Apple car … expand full story