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Apple is spending about $11.6 million per day on research and development, but what on? Here’s what Apple might have coming down the pipeline.
Apple’s financial reports are a treasure trove of information, and it gives us a peek inside one of the most secretive technology companies. Contained in the data is information on the company’s spending on research and development, and it seems that the Cupertino giant has been pouring a lot of extra dollars into R&D.
Over the first two quarters of its fiscal year, Apple has ploughed some $2.1 billion into its R&D budget, or some $11.6 million per day, or about 2 percent of net sales. This is a significant increase over the $1.6 billion spend during the same period last year, and at this rate, Apple could put as much as $4 billion into R&D over the course of this fiscal year. This is dwarfed by Microsoft, which is currently investing almost $10 billion a year in R&D, but it is a massive increase from 2007, when Apple’s R&D spending was less than $850 million.
According to Apple’s quarterly report, the company believes “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”, and that it “expects to make further investments in R&D to remain competitive”.
But what is Apple working on? During the investor’s conference call that accompanied the release of the quarterly figures, Apple CEO Tim Cook said that “really great stuff” will be introduced “in the fall and across all of 2014”.
Some of this “really great stuff” is obvious, consisting of things such as:
With the obvious stuff out of the way, let’s look at what else Apple might have in the pipeline.
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Source: Associated Press