Top Technology Stocks by R&D Spending
Top technology companies ranked by r&d spending, latest annual filings.
What R&D Spending Means for Technology Companies
R&D spending in technology is the engine of the product itself. Software firms expense their entire engineering payroll through this line, semiconductor designers book node transitions and verification work here, and platform companies fund new services from the same pool. Because most of this outlay is expensed rather than capitalized, a year of heavy investment can pressure reported margins even while the codebase and patent portfolio being built are the firm's most valuable assets.
Why It Matters in Technology
Software R&D often runs into the double digits as a share of revenue, and sustained commitment tends to correlate with platform leverage as each new capability widens the network effect. Still, dollar totals favor the largest firms mechanically, and a bloated engineering org can spend heavily without shipping proportional new value. Stock-based compensation also inflates the R&D line without matching cash outflow, which distorts cross-firm comparisons between cash- and equity-heavy payroll models.
What to Read Alongside
Pair R&D with [Revenue](/financials/top-revenue-stocks/technology/) to frame spending as a share of the business, [Net Income](/financials/top-net-income-stocks/technology/) to see how expensing pressures GAAP profit, and [Free Cash Flow](/financials/top-free-cash-flow-stocks/technology/) to check cash conversion.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc. | Technology | $34.55B | $4346.72B |
| 2 | MSFT | Microsoft Corporation | Technology | $32.49B | $2814.71B |
| 3 | NVDA | NVIDIA Corporation | Technology | $18.50B | $4956.83B |
| 4 | INTC | Intel Corporation | Technology | $13.77B | $608.65B |
| 5 | AVGO | Broadcom Inc. | Technology | $10.98B | $1869.25B |
| 6 | ORCL | Oracle Corporation | Technology | $9.86B | $527.84B |
| 7 | CSCO | Cisco Systems, Inc. | Technology | $9.30B | $462.45B |
| 8 | QCOM | QUALCOMM Incorporated | Technology | $9.04B | $224.47B |
| 9 | IBM | International Business Machines Corporation | Technology | $8.32B | $246.58B |
| 10 | AMD | Advanced Micro Devices, Inc. | Technology | $8.09B | $835.65B |
| 11 | CRM | Salesforce, Inc. | Technology | $5.99B | $126.96B |
| 12 | MU | Micron Technology, Inc. | Technology | $3.80B | $1176.44B |
| 13 | AMAT | Applied Materials, Inc. | Technology | $3.57B | $470.75B |
| 14 | UBER | Uber Technologies, Inc. | Technology | $3.40B | $144.34B |
| 15 | DELL | Dell Technologies Inc. | Technology | $3.14B | $271.76B |
| 16 | NOW | ServiceNow, Inc. | Technology | $2.96B | $98.47B |
| 17 | INTU | Intuit Inc. | Technology | $2.93B | $73.60B |
| 18 | XYZ | Block, Inc. | Technology | $2.91B | $43.35B |
| 19 | ARM | Arm Holdings plc | Technology | $2.78B | $447.40B |
| 20 | WDAY | Workday, Inc. | Technology | $2.68B | $30.09B |
| 21 | TEAM | Atlassian Corporation | Technology | $2.67B | $21.42B |
| 22 | HPE | Hewlett Packard Enterprise Company | Technology | $2.52B | $63.83B |
| 23 | SNPS | Synopsys, Inc. | Technology | $2.48B | $88.41B |
| 24 | NXPI | NXP Semiconductors N.V. | Technology | $2.36B | $75.29B |
| 25 | LRCX | Lam Research Corporation | Technology | $2.10B | $467.94B |
| 26 | TXN | Texas Instruments Incorporated | Technology | $2.08B | $274.74B |
| 27 | MRVL | Marvell Technology, Inc. | Technology | $2.08B | $253.29B |
| 28 | STM | STMicroelectronics N.V. | Technology | $2.04B | $65.20B |
| 29 | PANW | Palo Alto Networks, Inc. | Technology | $1.98B | $229.94B |
| 30 | SNOW | Snowflake Inc. | Technology | $1.97B | $81.28B |
| 31 | ADI | Analog Devices, Inc. | Technology | $1.77B | $201.87B |
| 32 | ADSK | Autodesk, Inc. | Technology | $1.64B | $40.77B |
| 33 | HPQ | HP Inc. | Technology | $1.60B | $21.20B |
| 34 | DDOG | Datadog, Inc. | Technology | $1.55B | $80.67B |
| 35 | SHOP | Shopify Inc. | Technology | $1.54B | $140.26B |
| 36 | CRWD | CrowdStrike Holdings, Inc. | Technology | $1.38B | $173.86B |
| 37 | KLAC | KLA Corporation | Technology | $1.36B | $311.85B |
| 38 | ANET | Arista Networks, Inc. | Technology | $1.24B | $207.67B |
| 39 | SNDK | Sandisk Corporation | Technology | $1.13B | $290.08B |
| 40 | GRMN | Garmin Ltd. | Technology | $1.13B | $44.72B |
| 41 | MCHP | Microchip Technology Incorporated | Technology | $1.09B | $51.02B |
| 42 | FIG | Figma, Inc. | Technology | $1.03B | $9.85B |
| 43 | TWLO | Twilio Inc. | Technology | $1.02B | $28.55B |
| 44 | KEYS | Keysight Technologies, Inc. | Technology | $1.01B | $59.93B |
| 45 | WDC | Western Digital Corporation | Technology | $0.99B | $245.46B |
| 46 | NTAP | NetApp, Inc. | Technology | $0.99B | $30.33B |
| 47 | ADP | Automatic Data Processing, Inc. | Technology | $0.99B | $87.45B |
| 48 | MSI | Motorola Solutions, Inc. | Technology | $0.97B | $66.51B |
| 49 | P | Everpure, Inc. | Technology | $0.96B | $24.16B |
| 50 | CHYM | Chime Financial, Inc. | Technology | $0.93B | $6.32B |
| 51 | U | Unity Software Inc. | Technology | $0.93B | $11.56B |
| 52 | HUBS | HubSpot, Inc. | Technology | $0.91B | $9.05B |
| 53 | ROP | Roper Technologies, Inc. | Technology | $0.85B | $33.30B |
| 54 | CIEN | Ciena Corporation | Technology | $0.85B | $61.82B |
| 55 | ZM | Zoom Communications, Inc. | Technology | $0.84B | $25.63B |
| 56 | ACN | Accenture plc | Technology | $0.82B | $95.78B |
| 57 | FTNT | Fortinet, Inc. | Technology | $0.82B | $105.60B |
| 58 | GLW | Corning Incorporated | Technology | $0.80B | $150.96B |
| 59 | SWKS | Skyworks Solutions, Inc. | Technology | $0.79B | $10.44B |
| 60 | OTEX | Open Text Corporation | Technology | $0.76B | $5.11B |
| 61 | NTNX | Nutanix, Inc. | Technology | $0.74B | $12.56B |
| 62 | DBX | Dropbox, Inc. | Technology | $0.73B | $6.16B |
| 63 | QRVO | Qorvo, Inc. | Technology | $0.73B | $8.33B |
| 64 | STX | Seagate Technology Holdings plc | Technology | $0.72B | $241.20B |
| 65 | MDB | MongoDB, Inc. | Technology | $0.72B | $26.92B |
| 66 | TEL | TE Connectivity plc | Technology | $0.70B | $61.94B |
| 67 | ZS | Zscaler, Inc. | Technology | $0.67B | $20.11B |
| 68 | DOCU | DocuSign, Inc. | Technology | $0.66B | $8.13B |
| 69 | APH | Amphenol Corporation | Technology | $0.65B | $198.20B |
| 70 | WIX | Wix.com Ltd. | Technology | $0.65B | $1.76B |
| 71 | OKTA | Okta, Inc. | Technology | $0.64B | $19.65B |
| 72 | SMCI | Super Micro Computer, Inc. | Technology | $0.64B | $17.97B |
| 73 | TRMB | Trimble Inc. | Technology | $0.63B | $11.39B |
| 74 | ZBRA | Zebra Technologies Corporation | Technology | $0.59B | $11.10B |
| 75 | ON | ON Semiconductor Corporation | Technology | $0.58B | $43.90B |
| 76 | COHR | Coherent Corp. | Technology | $0.58B | $74.12B |
| 77 | PLTR | Palantir Technologies Inc. | Technology | $0.56B | $313.16B |
| 78 | FFIV | F5, Inc. | Technology | $0.54B | $21.71B |
| 79 | AKAM | Akamai Technologies, Inc. | Technology | $0.51B | $18.59B |
| 80 | NET | Cloudflare, Inc. | Technology | $0.51B | $80.53B |
| 81 | NTSK | Netskope, Inc. | Technology | $0.51B | $3.52B |
| 82 | SSNC | SS&C Technologies Holdings, Inc. | Technology | $0.51B | $15.98B |
| 83 | TER | Teradyne, Inc. | Technology | $0.50B | $63.96B |
| 84 | CFLT | Confluent, Inc. | Technology | $0.48B | $11.13B |
| 85 | DT | Dynatrace, Inc. | Technology | $0.47B | $12.02B |
| 86 | PTC | PTC Inc. | Technology | $0.46B | $13.51B |
| 87 | CHKP | Check Point Software Technologies Ltd. | Technology | $0.46B | $12.68B |
| 88 | ESTC | Elastic N.V. | Technology | $0.45B | $6.09B |
| 89 | LYFT | Lyft, Inc. | Technology | $0.45B | $5.37B |
| 90 | CRUS | Cirrus Logic, Inc. | Technology | $0.43B | $8.09B |
| 91 | GEN | Gen Digital Inc. | Technology | $0.41B | $14.41B |
| 92 | PATH | UiPath, Inc. | Technology | $0.39B | $5.30B |
| 93 | MPWR | Monolithic Power Systems, Inc. | Technology | $0.38B | $71.15B |
| 94 | TOST | Toast, Inc. | Technology | $0.37B | $14.16B |
| 95 | PCOR | Procore Technologies, Inc. | Technology | $0.36B | $6.05B |
| 96 | NICE | NICE Ltd. | Technology | $0.36B | $4.87B |
| 97 | Q | Qnity Electronics, Inc. | Technology | $0.35B | $32.81B |
| 98 | SLAB | Silicon Laboratories Inc. | Technology | $0.35B | $7.21B |
| 99 | CRWV | CoreWeave, Inc. | Technology | $0.35B | $62.86B |
| 100 | SYNA | Synaptics Incorporated | Technology | $0.35B | $5.16B |
No companies match this search.
How this ranking is built
Companies are ranked by r&d spending as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.