A component pick and place apparatus includes a housing including; a rotatable frame and a plurality of pick-up and place heads mounted on the frame. The pick-up and place heads are rotatable from a first position to at least a second position, and includes a spindle which is movable from a retracted position to an extended position. A first actuator moves the spindle at the first position from the retracted position to the extended position for picking up or placing the component; and a second actuator moves a spindle so that when a pick-up and place head is at the second position a spindle is moved from the retracted position to the extended position for ascertaining the position of the picked-up component. This apparatus eliminates positional errors of the pick-up and place head spindle as it moves from its retracted position to its extended position when the component is placed.