Last quarter the company spent $2.8 billion on R&D. That's up from $2.4 billion in the year ago quarter. In 2016, Apple spend $10.39 on R&D, its highest annual spend ever.
When asked about the increase in R&D spending last year, CEO Tim Cook said:
"The products that are in R&D, there is quite a bit of investment in there for products and services that are not currently shipping or derivations of what is currently shipping. So I don’t want to talk about the exact split of it, but you can look at the growth rate and conclude that there’s a lot of stuff that we’re doing beyond the current products."
Apple has been rumored to be working on an electric self driving car, augmented reality glasses, chip and sensor design, wireless charging, and numerous other technologies.
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