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. Share Article:Facebook,   Twitter,   LinkedIn,   Google Plus,   Email,   Reddit,   Digg,   Delicious,   StumbleUponFollow iClarified:Facebook,   Twitter,   LinkedIn,   Google Plus,   Newsletter,   App Store,   YouTubeAdvertise Here

Source: iClarified Read More: Apple Increases R&D Spending by .5 Billion, Cuts Capital Expenditures by Billion