Re:Microsoft overtakes Apple as most valuable company
by bionsystem on Friday January 12, 2024 @12:32AM
(#38964295)
I'd say the whole market gives a premium to companies with R&D spend, that's part of the reason why they have higher valuation metrics (alongside growth, margins and other quant factors). That is, when they are not stupidly burning it or giving it away as stock compensation.
Some people on wallstreet do. In Mckinsey's book Valuation, they make it pretty clear to the reader that companies who spend a lot on r&d tend to have outsized returns compared to their counterparts, who don't spend that much.