From the DOJ lawsuit filed against Apple in 2024:
As Apple’s executives openly acknowledge: “In looking at it with hindsight, I think going forward we need to set a stake in the ground for what features we think are ‘good enough’ for the consumer. I would argue we’re already doing *more* than what would have been good enough. But we find it very hard to regress our product features YOY [year over year].” Existing features “would have been good enough today if we hadn’t introduced [them] already,” and “anything new and especially expensive needs to be rigorously challenged before it’s allowed into the consumer phone.” Thus, it is not surprising that Apple spent more than twice as much on stock buybacks and dividends as it did on research and development.
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