Apple’s R&D spending hit 10.3% of revenue in the March quarter, as the the tech giant ramps up investments in artificial intelligence.
The increase puts Apple closer to the rest of megacap tech on R&D, though the iPhone maker is still taking a very different approach when it comes to capital expenditures, according to CNBC. R&D spending was up from 7.6% in the prior period and 9% in the same quarter a year earlier. While sales jumped 17%, the fastest rate of growth for any quarter since 2021, R&D climbed twice as quickly, increasing almost 34% from a year prior, according to CNBC.
“That’s a sign that Apple is seeing a sense of urgency around new AI products,” said Gene Munster, managing partner at Deepwater Asset Management.”
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