Apple preps a budget Macbook with iPhone chip to rival Google Chromebook

Apple Inc. is preparing to enter the low-cost laptop market for the first time, developing a budget Mac aimed at luring away customers from Chromebooks and entry-level Windows PCs.

The new device—designed for students, businesses and casual users—will target people who primarily browse the web, work on documents or conduct light media editing, according to people familiar with the matter. Apple is also targeting potential iPad buyers who might prefer a traditional laptop experience instead.