Jackdaw Research chief analyst Jan Dawson has an excellent look at Apple‘s first five years under Tim Cook—by the numbers. The whole report (at Medium) is worth a close look for those trying to understand the long-term trajectory of the tech giant.
Dawson’s charts show a far larger company than when Cook took over five years ago, and one that has managed to keep margins very high (in the 40 percent range). One chart that stood out for me is the one showing the dramatically increased R&D spend under Cook. Dawson points out that Apple spent less than $2.5 billion during the four quarters before Tim Cook took over, and that it was almost $10 billion five years later, a roughly fourfold increase.