Apple is one of the most common household names of technology. There company has created new and improved cell phones, computers, tablets and so on, touching almost every type of technology that a person could possibly want or need. Apple employs 63,300 people worldwide, in 358 stores, supplying an unbelievable amount information at the touch of a finger.
(Information via: http://en.wikipedia.org/wiki/Apple_Store)
I chose Apple because of the booming technology advances and there recent creations of new electronic devices, such as the iPhone, iPad and Mac devices. In today's society, different forms of technology are found everywhere. People are now starting to evolve with technology, making it seem less extraordinary than it really is. Having so much information at the simple touch of such a small screen or button should seem amazing, but in today's society, it is normal.
Highlights from this fiscal year show a major increase in sales revenue from last year. This year, Apple had a net income of $25,922,000,000. Yes, that is $25.92 billion in revenue, which, compared to last year, was a $14.01billion net income. That is nearly a 50% increase in revenue!
The iPhone and iPad account for 68% of the companies revenue. In the most recent fiscal period, these devices brought about $17.6 billion in revenue for the company. That revenue is made from the16.24 million iPhones that were sold, along with 7.33 million iPads and 7.46 Tablets. Like the revenue increase of nearly 50%, the iPhone sales also increased by nearly 50%, by increasing from 8.7 million iPhones sold to 16.24 million. Another source of revenue for Apple is iTunes, which accounted for $1.1 billion in revenue for the company in the most recent fiscal period.
iPhones and iPads are Nearly 70% of Apple's Revenue
The most recent Apple fiscal period ended on September 24th. Companies are able to choose their fiscal year, the only regulations being the year has to consist of 12 consecutive months or 52 consecutive weeks.
The basic ending point for a corporation's fiscal year is when they are at their lowest activity. For example, Apple ends their fiscal year before the holiday season, which is easily their busiest time of the year. Some companies, however, may not have seasonal variation like Apple has. Because of this, they may be more likely to follow the calendar and end their year on December 31st, or at least near the new year. Apple, like I stated before, has seasonal variation. During the holiday season, sales increase dramatically. Also, new releases of new products cause a major increase in sales, creating variation.
Apple's Financial Statements
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