Apple Advertising Budget: Have you ever heard the saying “you have to spend money to make money?” It is safe to say that Apple Inc. (NASDAQ:AAPL) subscribes to this train of thought.
You have seen the commercials. You know that Apple is more than willing to spend money to make money. And there is no question that this has been a successful strategy for the tech giant.
Apple Advertising Budget: However, even companies with the success of Apple Inc. (NASDAQ:AAPL) have to keep a close eye on spending.
According to a recent article by CBS MoneyWatch, Apple has seen some of its expenses increase at a fast rate. This is particularly true in the area of advertising.
Here is a brief snippet to give you a better idea of how the company is approaching its advertising budget:
“Apple has seen some expenses, such as what the company pays for advertising and in overhead, growing at a fast clip. It takes money to make money, and CEO Tim Cook has authorized levels of spending previously unheard of in the company’s history. However, even as he does so, the rate of expense growth is still eclipsed by the continued rapid expansion of revenue and profit.”
It is hard to argue the fact that Tim Cook has done a marvelous job as CEO. While he has tons of help from the brightest minds in the industry, he is the guy at the top. And when you are the guy at the top you are responsible for a lot. This means keeping a close eye on Apple’s advertising budget, which continues to increase with each passing year.
Here are some advertising statistics as provided in the same MoneyWatch article: