CHART OF THE DAY: Apple's R&D Spending Spree Hints That New Products Are Coming Soon
In recent years, Apple spent relatively little revenue on research and development for new products, as the iPhone and iPad were just hitting their strides during that time. But after a few years without Apple entering any new product categories, the company announced during its quarterly earnings report on Tuesday that it's spent a record amount of capital on R&D this year - $1.6 billion, according to Apple Insider - hinting at new products that may be on the horizon.
According to data from research firm BTIG charted for us by Statista, there were similar R&D spikes around 2006 and 2008, which preceded the launches of the iPhone in 2007 and iPad in 2010. This year, Apple will reportedly launch two larger iPhone models with 4.7- and 5.5-inch screens, as well as the company's first smart wristband, which may be called iWatch or iBand.