Apple spending record amount on manufacturing equipment

Apple is spending a great deal of its record capital expenditure budget on new technology for use in its manufacturing processes, Bloomberg reports. The company’s annual 10-K report mentions that Apple expects to spend $10.5 billion on non-retail expenditures, “including product tooling and manufacturing process equipment.” Apple is reportedly investing in polishing equipment for the iPhone 5c’s plastic body, laser and milling machines for the MacBook, and “testing gear” for iPhone and iPad camera lenses. The increased spending will enable Apple “to get a jump on rivals like Samsung Electronics Co. and lay the groundwork for new products.”