Apple this week reported an impressive $7.7 billion in profits for its third fiscal quarter of 2014 with quarterly revenue reported as $37.4 billion.
For the three month period ending in late June, Apple shipped 35.2 million iPhones, 13.2 million iPads, 4.4 million Macs, and 2.9 million iPods.
Of course, next year at this time, Apple’s list of products for which it reports sales could be longer. Based on R&D spending for the last quarter, Apple is gearing to augment its product offerings.
Last quarter, R&D spending increased by 36 percent over the same quarter in 2013.
With a new quarterly record for R&D investment in the bag, it comes as no surprise that Apple has already invested north of $4 billion into R&D this fiscal year.
In addition to new iPhones this fall, some analysts expect Apple to lift the veil on its long awaited smartwatch dubbed “iWatch” by the tech blogosphere.