There’s an age-old take when it comes to Apple and hot new technologies: if the company hasn’t shipped whatever everybody else in the industry is currently focusing on, it must be behind. This is rarely the truth.
Apple’s business is like the proverbial iceberg: we only see the tip of what the company’s doing, while the vast majority of its research and development efforts are looming beneath the surface. Just look at its finances in its most recent quarter: it spent $7.7 billion on R&D, accounting for more than half
