By Daisuke Wakabayashi
Apple Inc. on Wednesday cut its capital-spending projection for
this fiscal year by 8%, reducing what it plans to spend on
purchasing manufacturing equipment, building data centers and
retail stores.
Apple now expects to shell out $12 billion on capital
expenditures for the year ending in September, according to a
regulatory filing for the fiscal third quarter. In April, Apple had
projected $13 billion in capital spending--reiterating its forecast
from the beginning of the year.
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 pays for specialized manufacturing equipment and then
leases the tools to its suppliers producing Apple products.
Write to Daisuke Wakabayashi at Daisuke.Wakabayashi@wsj.com
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