Don’t miss the latest developments in business and finance.

Apple to shell $11bln into capital expenditure for fiscal 2014

Image
ANI Washington
Last Updated : Oct 31 2013 | 2:20 PM IST

Apple has a budget of 11 billion dollars in capital expenditure for fiscal 2014, which is 57 percent more than the seven billion dollars it spent in 2013.

Approximately 550 million dollars of it is budgeted will be spent on retail store facilities, which includes some 30 new stores and remodeling of approximately 20 existing ones.

According to AllThingsD, the rest 10.5 billion dollars is allocated to "other capital expenditures."

The other capital expenditure includes "product tooling and manufacturing process equipment, and corporate facilities and infrastructure, including information systems hardware, software and enhancements."

Apple is continuing to invest in its ability to build certain products and components in-house.

More From This Section

First Published: Oct 31 2013 | 1:45 PM IST

Next Story