In a move to cut costs, Apple Inc. (NASDAQ:AAPL) is said to be developing a new version of its Watch SE, which will feature a plastic casing. What Happened: In his latest weekly “Power On” newsletter, Bloomberg columnist Mark Gurman reported that Cupertino is creating a new Apple Watch SE model incorporating a sturdy plastic casing instead of anodized aluminum. “Perhaps it’s looking to get the cost down to something that could better rival Samsung’s cheapest watch” he stated. The existing Apple Watch SE is priced at $249, while the Galaxy Watch FE, the most affordable competitor from Samsung, …