Apple (AAPL) is expected to spend more on research and development in 2015 than it did in 2014, and then to spend even more in 2016, according to Above Avalon, a company focused on analyzing Apple from a financial perspective. Total R&D spending in 2016 could approach $10 billion, the report said.

The post notes that when Apple’s R&D spending goes up, that generally means something new is in the works — previous spikes have correlated with the development cycles of the iPhone, the iPad, and Apple’s Watch. The spike in R&D means we should expect yet another product launch in the next year or so, although Apple’s strict secrecy means we have no idea what it could be.

Check out the original post to see more charts that show exactly how Apple’s R&D budget has fluctuated through the years.
[fortune-brightcove videoid=4209224609001]