R&D Spending Reaches New Record at Apple
On Tuesday, Apple reported $7.7 billion in profits for its third fiscal quarter of 2014 with quarterly revenue clocking in at $37.4 billion.
Enjoying record iPhone sales for a June quarter, Apple moved 35.2 million iPhones, 13.2 million iPads, 4.4 million Macs, and 2.9 million iPods for the three month period ending the last week of June 2014.
Of course, if you think these numbers are impressive, just wait until new products join the familiar iDevice and Mac lineups. After yesterday's earnings call, it's evident that Apple is planning to augment its offerings in new product categories. The evidence? Strong R&D spending.
Last quarter, R&D spending increased by better than 35 percent over the same quarter last year. Setting a new quarterly record for R&D investment, Apple says it has already plunked down well over $4 billion into R&D this fiscal year.
Although Apple provided few clues during yesterday's call with regard to the products and services that lie ahead, it's apparent that Apple is eager to bring innovative new products to market -- and soon.