Apple R&D Spending Grows To $3 Billion

Apple is clearly working on some significant new technologies, which is supported by its $2.94 billion in R&D expenses during the third quarter. It's believed a large portion of that money is going into augmented reality technologies and autonomous vehicle tech. CEO Tim Cook has emphasized his belief that AR could one day be as important as the smartphone.

On the autonomous vehicle side of things, Apple isn't making its own car, although it was at one point interested in pursuing that project. It's instead focused on software.