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 to frame spending as a share of the business, Net Income to see how expensing pressures GAAP profit, and Free Cash Flow to check cash conversion.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft Corporation | Technology | $35.56B | $3697.92B |
| 2 | AAPL | Apple Inc. | Technology | $34.55B | $4958.37B |
| 3 | NVDA | NVIDIA Corporation | Technology | $18.50B | $5526.52B |
| 4 | INTC | Intel Corporation | Technology | $13.77B | $654.74B |
| 5 | AVGO | Broadcom Inc. | Technology | $10.98B | $1740.18B |
| 6 | ORCL | Oracle Corporation | Technology | $10.27B | $451.14B |
| 7 | CSCO | Cisco Systems, Inc. | Technology | $9.56B | $419.65B |
| 8 | QCOM | QUALCOMM Incorporated | Technology | $9.04B | $211.76B |
| 9 | IBM | International Business Machines Corporation | Technology | $8.32B | $217.99B |
| 10 | AMD | Advanced Micro Devices, Inc. | Technology | $8.09B | $1018.29B |
| 11 | CRM | Salesforce, Inc. | Technology | $5.99B | $191.99B |
| 12 | MU | Micron Technology, Inc. | Technology | $3.80B | $1238.00B |
| 13 | AMAT | Applied Materials, Inc. | Technology | $3.57B | $374.94B |
| 14 | UBER | Uber Technologies, Inc. | Technology | $3.40B | $142.75B |
| 15 | INTU | Intuit Inc. | Technology | $3.38B | $78.13B |
| 16 | TEAM | Atlassian Corporation | Technology | $3.27B | $47.75B |
| 17 | DELL | Dell Technologies Inc. | Technology | $3.14B | $349.01B |
| 18 | NOW | ServiceNow, Inc. | Technology | $2.96B | $141.64B |
| 19 | XYZ | Block, Inc. | Technology | $2.91B | $46.58B |
| 20 | ARM | Arm Holdings plc | Technology | $2.78B | $355.86B |
| 21 | WDAY | Workday, Inc. | Technology | $2.68B | $45.36B |
| 22 | PANW | Palo Alto Networks, Inc. | Technology | $2.55B | $306.40B |
| 23 | HPE | Hewlett Packard Enterprise Company | Technology | $2.52B | $81.02B |
| 24 | SNPS | Synopsys, Inc. | Technology | $2.48B | $78.43B |
| 25 | LRCX | Lam Research Corporation | Technology | $2.38B | $389.11B |
| 26 | NXPI | NXP Semiconductors N.V. | Technology | $2.36B | $59.91B |
| 27 | TXN | Texas Instruments Incorporated | Technology | $2.08B | $247.86B |
| 28 | MRVL | Marvell Technology, Inc. | Technology | $2.08B | $235.78B |
| 29 | STM | STMicroelectronics N.V. | Technology | $2.04B | $47.64B |
| 30 | SNOW | Snowflake Inc. | Technology | $1.97B | $118.75B |
| 31 | ADI | Analog Devices, Inc. | Technology | $1.77B | $189.16B |
| 32 | ADSK | Autodesk, Inc. | Technology | $1.64B | $45.90B |
| 33 | HPQ | HP Inc. | Technology | $1.60B | $28.89B |
| 34 | DDOG | Datadog, Inc. | Technology | $1.55B | $88.86B |
| 35 | SHOP | Shopify Inc. | Technology | $1.54B | $190.09B |
| 36 | KLAC | KLA Corporation | Technology | $1.53B | $246.05B |
| 37 | CRWD | CrowdStrike Holdings, Inc. | Technology | $1.38B | $256.05B |
| 38 | SNDK | Sandisk Corporation | Technology | $1.33B | $276.30B |
| 39 | ANET | Arista Networks, Inc. | Technology | $1.24B | $258.79B |
| 40 | WDC | Western Digital Corporation | Technology | $1.16B | $167.51B |
| 41 | GRMN | Garmin Ltd. | Technology | $1.13B | $54.90B |
| 42 | MCHP | Microchip Technology Incorporated | Technology | $1.09B | $41.17B |
| 43 | FIG | Figma, Inc. | Technology | $1.03B | $11.62B |
| 44 | ADP | Automatic Data Processing, Inc. | Technology | $1.03B | $107.12B |
| 45 | TWLO | Twilio Inc. | Technology | $1.02B | $43.70B |
| 46 | KEYS | Keysight Technologies, Inc. | Technology | $1.01B | $59.13B |
| 47 | NTAP | NetApp, Inc. | Technology | $0.99B | $37.89B |
| 48 | MSI | Motorola Solutions, Inc. | Technology | $0.97B | $75.58B |
| 49 | P | Everpure, Inc. | Technology | $0.96B | $36.95B |
| 50 | CHYM | Chime Financial, Inc. | Technology | $0.93B | $10.84B |
| 51 | U | Unity Software Inc. | Technology | $0.93B | $18.97B |
| 52 | HUBS | HubSpot, Inc. | Technology | $0.91B | $10.86B |
| 53 | ZS | Zscaler, Inc. | Technology | $0.90B | $34.27B |
| 54 | ROP | Roper Technologies, Inc. | Technology | $0.85B | $35.99B |
| 55 | CIEN | Ciena Corporation | Technology | $0.85B | $52.26B |
| 56 | ZM | Zoom Communications, Inc. | Technology | $0.84B | $26.54B |
| 57 | ACN | Accenture plc | Technology | $0.82B | $112.43B |
| 58 | FTNT | Fortinet, Inc. | Technology | $0.82B | $127.86B |
| 59 | GLW | Corning Incorporated | Technology | $0.80B | $137.56B |
| 60 | NTNX | Nutanix, Inc. | Technology | $0.79B | $18.74B |
| 61 | SWKS | Skyworks Solutions, Inc. | Technology | $0.79B | $13.54B |
| 62 | SMCI | Super Micro Computer, Inc. | Technology | $0.77B | $27.29B |
| 63 | STX | Seagate Technology Holdings plc | Technology | $0.76B | $209.17B |
| 64 | DBX | Dropbox, Inc. | Technology | $0.73B | $7.37B |
| 65 | QRVO | Qorvo, Inc. | Technology | $0.73B | $10.45B |
| 66 | COHR | Coherent Corp. | Technology | $0.72B | $60.78B |
| 67 | MDB | MongoDB, Inc. | Technology | $0.72B | $34.45B |
| 68 | TEL | TE Connectivity plc | Technology | $0.70B | $61.81B |
| 69 | DOCU | DocuSign, Inc. | Technology | $0.66B | $12.48B |
| 70 | OTEX | Open Text Corporation | Technology | $0.65B | $5.57B |
| 71 | APH | Amphenol Corporation | Technology | $0.65B | $204.28B |
| 72 | WIX | Wix.com Ltd. | Technology | $0.65B | $3.35B |
| 73 | OKTA | Okta, Inc. | Technology | $0.64B | $34.37B |
| 74 | TRMB | Trimble Inc. | Technology | $0.63B | $13.83B |
| 75 | ZBRA | Zebra Technologies Corporation | Technology | $0.59B | $17.11B |
| 76 | ON | ON Semiconductor Corporation | Technology | $0.58B | $28.65B |
| 77 | PLTR | Palantir Technologies Inc. | Technology | $0.56B | $444.54B |
| 78 | FFIV | F5, Inc. | Technology | $0.54B | $25.67B |
| 79 | AKAM | Akamai Technologies, Inc. | Technology | $0.51B | $17.01B |
| 80 | NET | Cloudflare, Inc. | Technology | $0.51B | $125.70B |
| 81 | NTSK | Netskope, Inc. | Technology | $0.51B | $7.58B |
| 82 | SSNC | SS&C Technologies Holdings, Inc. | Technology | $0.51B | $18.60B |
| 83 | TER | Teradyne, Inc. | Technology | $0.50B | $62.33B |
| 84 | CFLT | Confluent, Inc. | Technology | $0.48B | $11.13B |
| 85 | DT | Dynatrace, Inc. | Technology | $0.47B | $16.53B |
| 86 | PTC | PTC Inc. | Technology | $0.46B | $15.19B |
| 87 | CHKP | Check Point Software Technologies Ltd. | Technology | $0.46B | $14.00B |
| 88 | ESTC | Elastic N.V. | Technology | $0.45B | $9.37B |
| 89 | LYFT | Lyft, Inc. | Technology | $0.45B | $5.64B |
| 90 | CRUS | Cirrus Logic, Inc. | Technology | $0.43B | $6.03B |
| 91 | GEN | Gen Digital Inc. | Technology | $0.41B | $16.34B |
| 92 | PATH | UiPath, Inc. | Technology | $0.39B | $6.91B |
| 93 | MPWR | Monolithic Power Systems, Inc. | Technology | $0.38B | $67.85B |
| 94 | SYNA | Synaptics Incorporated | Technology | $0.38B | $3.88B |
| 95 | TOST | Toast, Inc. | Technology | $0.37B | $17.14B |
| 96 | RBRK | Rubrik, Inc. | Technology | $0.37B | $23.19B |
| 97 | PCOR | Procore Technologies, Inc. | Technology | $0.36B | $7.73B |
| 98 | NICE | NICE Ltd. | Technology | $0.36B | $6.93B |
| 99 | LITE | Lumentum Holdings Inc. | Technology | $0.36B | $84.83B |
| 100 | Q | Qnity Electronics, Inc. | Technology | $0.35B | $26.12B |
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.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- 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.