Are we getting close to seeing the Apple Car? A report from Neil Cybart of Above Avalon indicates Apple may be ramping up spending on its much-hyped potential new product: the Apple Car. Since 2014, we've seen an uptick in Apple's R&D (research and development) spending, and it appears that Apple is going to spend at least a record $10 billion on R&D this year. Rumor has it that the increase in spending since 2014, especially the huge increase this year, indicates that Apple is moving towards a huge pivot in their company's direction by diving into the auto industry. Analysts like Neil Cybart have said that this is a huge indication Apple is getting closer to a car, but is he right? Is the R&D increase going to be spent truly on the Apple Car, or is it just wishful thinking?
Industry insider Steven Sinofksy claims that an increase in R&D spending is simply what comes along with company growth. Additionally, historically an R&D spending increase hasn't meant a huge new product. It could simply mean Apple is working on improving small aspects of the iPhone for the release of the 7 or 7s. Other analysts have commented that the spending increase is historically in line with Apple's spending anyway. However, here at AppleBlend, we believe that the R&D spending increase may very well have something to do with Project Titan (Apple Car). A 30% increase from 2015 can't be ignored, and coupled with the steadily growing Apple Car rumors, it's hard to say there's not a correlation.
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