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DBHOOVERS-APPLEINCCOMPANYDESCRIPTION.pdf

Company Description Apple designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. The company also offers and sells

a variety of related services. Apple products include its famous iPhone, which is the company's line of smartphones basing on its iOS operating

system. The company recently released its iPhone 15 product line last year. Other apple products also include Mac computers and iPad tablets

Apple Music, the Apple Watch, and other wearable devices. Its' services include AppleCare, Cloud Services, Digital content, and Payment services

(ApplePay). Apple has entered entertainment with the Apple TV+ streaming service. About 60% of Apple's revenue comes from outside the

Americas.

Operations

Apple relies on the iPhone for more than 50% of sales, while other hardware products, the Mac desktop and notebook computers and iPad tablets,

account for roughly 10% each. Services, which includes the App Store, iCloud, Apple Music, and Apple Pay mobile payment, is the second biggest

revenue producer with nearly 20% of sales. The Wearables, Home and Accessories segment, which include the AppleWatch and HomePod,

accounts for about 10% of sales.

The company's operating systems are iOS for mobile devices, MacOS for computers, Apple WatchOS for the watch, and iPadOS for the iPad.

Geographic Reach

Apple, based in Cupertino, California, generates more than 40% of sales in the Americas, while Europe and Greater China contribute a quarter of

revenue and about 20% of revenue, respectively. Japan also represents less than 10% of revenue.

The company has facilities and land for corporate functions, R&D, data centers, retail and other purposes at locations throughout the US and in

various places outside the US.

Sales and Marketing

The company sells its products and resells third-party products in most of its major markets directly to consumers, small and mid-sized businesses,

and education, enterprise and government customers through its own retail stores and website, as well as through a direct sales force. The

company also employs a variety of indirect distribution channels, such as third-party cellular network carriers, wholesalers, retailers, and resellers.

Direct and indirect channels accounted for more than 35% and about 60% of Apple's sales, respectively.

Financial Performance

Apple's performance decreased from 2022 to 2023, but had an overall growth for the past five years.

Total net sales decreased by $11 million to $383.3 million for 2023, as compared to the 2022's revenue of $394.3 million.

The company's net income for fiscal year 2023 decreased to $97 million, as compared the prior year's net income of $100 million.

Cash held by the company at the end of 2023 was at $30 billion. Cash provided by operations was $110.5 billion. Investing activities provided $3.7

billion while financing activities used $108.5 billion. Main cash uses were for purchases of marketable securities and repurchased of common stock.

Strategy

The year-over-year growth in R&D expense in 2023 was driven primarily by increases in headcount-related expenses.

Apple Inc. 1 Apple Park Way

Cupertino, California, 95014-0642, United States

+1-408-996-1010 www.apple.com

Public Parent Headquarters

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Because the industries in which the company competes are characterized by rapid technological advances, the company's ability to compete

successfully depends heavily upon its ability to ensure a continual and timely flow of competitive products, services and technologies to the

marketplace. The company continues to develop new technologies to enhance existing products and services, and to expand the range of its

offerings through research and development ("R&D"), licensing of intellectual property and acquisition of third-party businesses and technology.

Company Background

College dropouts Steve Jobs (1955-2011) and Steve Wozniak founded Apple in 1976 in California's Santa Clara Valley.

The company's Macintosh made a splash in the mid-1980s, driven by its Super Bowl commercial in 1984. Jobs returned in the late '90s as Apple

was on the brink of bankruptcy. He slashed the company's bloated product portfolio and introduced a line of eye-catching Macintosh computers.

Then came the iPod music player, which led to the iPhone, which became one of the world's most successful products, and the iPad tablet.

Jobs died in 2011 from pancreatic cancer. His successor, Tim Cook, has run the company since.

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