Apple's research and development spending last year was $12.7 billion | Bernstein analysts said it was not enough

Data shows that Apple's research and development spending last year was as high as $12.7 billion. However, according to foreign media PhoneArena quoted from analysts, this number is actually not enough.

Bernstein analyst Toni Sacconaghi said that although Apple spent more on R&D last year than it did between 1998 and 2011, it still did not make enough innovation investment. Sacconaghi said that Apple only invested in its free cash flow. 2% for research and development, and its competitors' investment is 25%. Although for Apple, 2% of free cash flow is equivalent to a large number.

Analysts further pointed out that Apple's R&D expenditures accounted for 5.1% of its total revenue, while other technology companies with Apple's gross margin (38%) invested 10%. Apple is the top ten technology companies in the US. The biggest profitable, but only ranked sixth in R&D spending.

Analysts said that although Apple's research and development costs have actually increased by five in the past six and a half years, considering the company's size and resource background, the failure to produce other heavyweight products may be the most disappointing.