Apple spends $2.9 billion in R&D during the third fiscal quarter
<p>Apple must be cooking up some interesting products in its secret labs. The company spending on research and development totaled $2.9 billion for the third fiscal quarter that ended on July 1, rising 15% year-over-year compared to a revenue gain of 7% for the same period, reports the <a target="_blank" href="https://www.wsj.com/articles/apples-expensive-game-of-catch-up-1502202741?mod=rss_Technology" rel="noopener noreferrer"><em>Wall Street Journal</em></a>. This brought the tech giant’s R&D spending to $11.2 billion for the previous 12 months — about 5% of the company’s revenue for the period.</p>