Business
Summary (AAPL)
Apple Inc.
Company overview
● Industry, Mission, and Value-Add : Apple Inc. is a global technology company that designs, manufactures, and
sells smartphones, personal computers, tablets, wearables, and accessories. It also provides various software
and services. Apple's mission is to bring the best user experience to its customers through innovative hardware,
software, and services. The company is a leader in the consumer electronics industry, known for its premium
products and seamless integration of hardware and software ecosystems.
● Key Capabilities, Opportunities and Challenges : Apple's key capability lies in its innovative product design,
brand loyalty, and strong ecosystem that integrates its devices, software (iOS, macOS), and services (Apple
Music, iCloud). Opportunities include expansion in services like financial products (Apple Pay, Apple Card),
augmented reality, and electric vehicles. Challenges include reliance on iPhone sales for revenue and global
supply chain risks, particularly with its dependency on China for manufacturing.
● Locations and Team Size : Apple is headquartered in Cupertino, California, and operates globally. As of 2023,
Apple employed approximately 164,000 full-time employees worldwide.
● Historical Performance : Apple has shown consistent revenue growth over the last decade, with its FY2023
revenue reaching $383 billion. The company has maintained strong profitability with a net income of $100.99
billion in FY2023. Growth has been driven primarily by iPhone sales, with significant contributions from services
like the App Store and Apple Music.
Financial summary
2021 2022 2023 2024 2025 (Proj.)
(Proj.)
Revenue $365.8B $394.3B $383B $400B $400B
COGS $212.9B $223.5B $216B $225B $225B
SG&A 23.4B $25.9B $27.8B $29B $29B
EBITDA 111.4B $119.1B $115.3B $120B $120B
EBITDA Margin (%) 30.4% 30.2% 30.1% 30% 30%
Source: Apple Investor Relations 2021-2023 reports, with 2024 and 2025 based on analyst projections.
Recent News
- September 2024: Apple announced the launch of the iPhone 16 with significant upgrades.
- August 2023: Apple revealed further advancements in its Vision Pro augmented reality headset, expected to
launch in early 2024, which could pioneer the next wave of immersive tech.
- July 2023: Apple expands its financial services with Apple Pay Later, a buy-now-pay-later service for U.S.
consumers, increasing its presence in fintech.
- June 2023: Apple announced record revenue from services at $21.2B for the quarter, highlighting the growth
potential of its services segment.
Key people
Role Name
CEO Tim Cook
CFO Luca Maestro
COO Jeff Williams
Key products
Name Revenue Description
Iphone $205B Apple's flagship smartphone, accounting for more than half of its annual revenue.
Mac $40B A range of personal computers including MacBook, Мас, Мас
mini, and Mac Pro.
Ipad $30B Apple's line of tablets with various sizes and configurations.
Other Relevant Information : Apple holds one of the largest cash reserves among publicly
traded companies, with over $62 billion in cash and cash equivalents as of FY2023. This provides the
company with flexibility for strategic acquisitions, share buybacks, and dividends.
• Apple's research and development spending continues to increase year-over-year, hitting $27.7 billion in
FY2023, reflecting its commitment to innovation in areas like AR/VR, Al, and custom silicon chips.
