Apple’s future “spaceship” headquarters construction project had been delayed due to budget issues.
The “spaceship”-like structured will resemble a ring shape. The overall budget for the new headquarter space has jumped from $3 billion to $5 billion- price that would exceed the cost of the World Trade Center.
Einhorn Tells Investors: Tesla Is Gaming S&P 500 Index Committee
The Federal Reserve has poured unprecedented levels of stimulus into the U.S. economy to deal with the pandemic, and most experts agree that inflation is just around the corner. David Einhorn has positioned his Greenlight Capital to benefit from inflation when it arrives. Q2 2020 hedge fund letters, conferences and more SORRY! This content is Read More
For now though, the construction has been delayed as the main architect for the project needs to cut $1 billion from the budget. Just last year, Apple Inc. (NASDAQ:AAPL) started breaking ground for the project but the work had to be pushed back to 2014. Apple also initially planned to move employees to the headquarters in 2015 but those plans had to be delayed to a year later.
The new building structure will be a large ring-like circle with four stories and 2.8 million square feet. The building is expected to hold 12,000 employees on the campus, a significant number from the 12,800 people capacity for the current building. However, a recently revised proposal shows the new building will hold 14,200 people.
As Apple Inc. (NASDAQ:AAPL) continues to grow as company, they need to expand their headquarter operations. Apple’s expansion is further proof of the company’s success.
Another reason Apple needs to expand their headquarters is the rumored iTV. On Wednesday, we reported that Apple Inc. (NASDAQ:AAPL) could launch a revolutionary television set that comes with four smaller screens that will allow users to access content nearly anywhere in the home.
The large TV is rumored to measure about sixty inches and the mini screens will likely measure 9.7, about the same size as the iPad. The iTV would not replace the iPad although it would allow people to use popular applications like Siri or FaceTime. Of course, this is just a rumor and Apple may or may not release such a product.
Apple Inc. (NASDAQ:AAPL) is revolutionary when it comes to technology and such a building could help inspire more creativity.