Apple R&D Budget Reveals a Pivot Is Coming (via @AboveAvalon)

Fascinating and astute analysis of Apple’s R&D spending. TL;DR: Apple is spending A FREAKING TON of money on R&D, more than it has ever before.

Apple has likely spent upwards of a few billion dollars on [its automotive product] so far when including real estate and stock-based compensation. When considering that Apple will likely be spending upwards of $14 billion per year on R&D by 2017 or 2018, Project Titan could easily end up being a $10-$15 billion project before Apple even ships a product. This is uncharted territory not just for Apple, but for the entire auto industry.