“Apple spent a record $45.77 billion on R&D in fiscal 2026, up 32%”

Key points

• Apple's fiscal 2026 R&D totaled $45.77 billion, up 32% from 2025.
• Q4 2026 R&D spending was $11.73 billion, contributing to the annual total.
• CEO Tim Cook said Apple was 'clearly investing more' and accelerating R&D.
• CFO Kevan Parekh noted AI-related spending is added to existing product investments.
• R&D spending began rising sharply at the start of fiscal 2026 and stabilized at a higher level.