Annual Research and Development Expenses of Apple Inc
Apple research and development expenses 2000-2022
Amounts are in $millions.
| Year | R&D expenses ($mn) |
| 2022 | $26,251 |
| 2021 | $21,914 |
| 2020 | $18,752 |
| 2019 | $16,217 |
| 2018 | $14,236 |
| 2017 | $11,581 |
| 2016 | $10,045 |
| 2015 | $8,067 |
| 2014 | $6,041 |
| 2013 | $4,475 |
| 2012 | $3,381 |
| 2011 | $2,429 |
| 2010 | $1,782 |
| 2009 | $1,333 |
| 2008 | $1,109 |
| 2007 | $782 |
| 2006 | $712 |
| 2005 | $535 |
| 2004 | $489 |
| 2003 | $471 |
| 2002 | $446 |
| 2001 | $430 |
| 2000 | $380 |
2022: Apple Inc. spent $26.25 billion on research and development in fiscal 2022 compared to $21.9 billion in the previous fiscal. Its R&D expenses grew around 20% year over year in 2022.
In 2021 Apple spent $21.9 billion on research and development compared to $18.85 billion in 2020. Its R&D expenses were 17% higher in 2021 compared to 2020.
Apple's R&D expenses in 2020 grew to $18.8 billion compared to $16.2 billion in 2019.
The research and development expenses of Apple Inc grew by 14% in 2019 compared to the previous year, rising to $16.2 billion from $14.2 billion in 2018. In 2019, the research and development expenses of Apple Inc were 6% of net sales compared to 5% in 2018.
About Apple Inc:
Founded in 1976 by Steve Jobs and Steve Wozniak, Apple Inc. has its headquarters in Cupertino, California, United States. The company is a leading technology brand and the maker of iPhone, Mac, and iPads. Apart from it, Apple also sells a nice range of wearables and services. The company has experienced solid growth in Net revenue in 2020 compared to the previous year. Its net revenue in 2020 grew to $274.5 billion compared to $260.2 billion in 2019.
Apple's market cap is higher than $2 Trillion and it is the first company whose market cap exceeded 2 trillion. The company is currently led by CEO Tim Cook.