Apple increased R&D spending by $1 billion in 2012

Apple published its annual Form 10-K for 2012, a detailed (and tedious) fiscal report for investors required by the Securities and Exchange Commission. Along with a summary of numbers for the past three years, the filing reveals spending on research and development has grown significantly to $3.4 billion—an increase of $1 billion over 2011. Apple has added the equivalent of nearly 13,000 employees over the last year, the majority of which staff its nearly 400 retail stores worldwide.

Other numbers have increased significantly as well. Apple is sitting on $121 billion worth of cash and equivalents, up from $81 billion at the end of fiscal 2011 and more than double the $51 billion hoard it was sitting on in fiscal 2010. Total sales were $156 billion, up 45 percent year-over-year from $108 billion. Profits totaled $41.7 billion, up 61 percent year-over-year. Gross margins for 2012 were 43.9 percent, up from 40.5 percent (and still much higher than most competitors).

Still, Apple notes it faces significant risks to its overall stellar financial health. In particular, the company noted competition in computers and mobile devices is getting stiffer by the minute.