Apple: expenditure on research and development 2007-2024

Apple Inc. spent a record 31.4 billion U.S. dollars on research and development in its 2024 fiscal year, increasing by about 1.5 billion from its 2023 total. The company’s massive research and development budget over the years has led to the release of various famous products including the iPhone, iPod, MacBook, and iPad. In 2024, the company released their first VR headset, the Apple Vision Pro. 

Apple Inc.

Since its famous beginning in a garage in California, Apple has grown into a tech industry giant, today holding the title of the world’s most valuable brand. The company released over a dozen new products in 2023, with new generations of its iPhone, Apple Watch, and iPad being released. In addition to its consumer electronics products, the company develops a variety of software packages, applications, web browsers, and more recently, cloud technology offerings. On November 1, 2019, with the official launch of its ambitious Apple TV+, Apple also entered the over-the-top media service market, albeit late to the already competitive game. Apple’s massive range of compatible products and software bring in hundreds of billions of dollars in revenue each year and made it the first public company whose market value reaches the one trillion U.S. dollar landmark.