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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Apple Inc | NASDAQ:AAPL | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14.16 | 8.36% | 183.46 | 183.45 | 183.46 | 173.415 | 170.90 | 172.51 | 95,381,932 | 00:59:59 |
From May 2019 to May 2024
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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