Apple to launch low-cost Mac laptop to rival Chromebooks, Bloomberg reports

Apple (AAPL) is developing a budget Mac and preparing to enter the low-cost laptop market for the first time in a bid to lure customers from Chromebooks and entry-level Windows PCs, sources told Bloomberg’s Mark Gurman. The new device – code-named J700 – will target people who primarily browse the web, work on documents or conduct light media editing and the machine is currently in active testing at Apple and in early production with overseas suppliers, people familiar with the matter said.