Apple recently increased its research and development budget by $1.5 billion just this year, even though it intends to reduce expenditures, including equipment, for the remainder of the year.

In fact, the company's expenditures is expected to reduce by $1 billion to $12 billion, as per an SEC filing. Which does make a lot of sense given that the preceding fiscal year for Apple was massive - as it launched the iPhone 6, iPhone 6 Plus, and the Apple Watch.

In fact, it's highly likely that Apple won't be introducing a brand-new model in the coming year. Business Insider claims that the tech giant will probably "only upgrade the software on those models and to tweak the hardware marginally, in the form of an iPhone 6S and iPhone 6S Plus, and an updated operating system for the Watch."

The Wall Street Journal also perfectly encapsulated the situation. "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."

As for those plans, rumor has it that Apple will be creating a new car. Apple's budget increase -- totaling $5.9 billion -- for the research and development within the beginning nine months of 2015 gives a hint as to what those "product plans" may be.

Even though the company is cutting back on manufacturing expenses, the recent move indicates that Apple is investing more of its resources into future products.

In the SEC filing, Apple said: "The Company continues to believe that focused investments in R&D are critical to its future growth and competitive position in the marketplace and are directly related to timely development of new and enhanced products that are central to the Company's core business strategy."

Not only that, but Apple's recent hires imply that they will be creating products within the "automotive market." Business Insider even notes that Apple may be developing an electric car.