In almost all years of semiconductor industry's history, research and development spending of the public semiconductor companies has increased. Only three years in the last 25 showed a decrease in spending and only two of those decreases were material (near 10%), 2001 and 2009.
Keeping up with Moore’s Law is expensive, so semiconductor R&D tends to grow at the same rate as semiconductor revenue growth, unlike industries that reduce R&D spending as a percentage of revenue as they mature. Yet will this trend continue?
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