Resilient Financials & Profitability: Apple reported $391.0 billion revenue in FY2024 (+2% YoY) and $93.7 billion net profit. Gross margin hit a record 46.2%, driven by the high-margin Services segment.
Services Growth Engine: Services (App Store, subscriptions) are a major growth driver, reaching nearly $96 billion revenue (25% of total) in FY2024. Apple now has over 1 billion paid subscriptions across its platforms.
Innovation Focus & Challenges: Growth strategy relies on expanding the ecosystem (Services, Wearables) and entering new categories (Vision Pro). Key challenges include smartphone market saturation, iPhone revenue dependency, and increasing regulatory scrutiny (App Store, market power).
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iPhone Cornerstone: The iPhone remains Apple's most important product, accounting for over 50% of FY2024 revenue ($201 billion). Customer loyalty is exceptionally high.
Massive Ecosystem & Shareholder Returns: Apple has over 2.2 billion active devices globally. It generated $108.8 billion in free cash flow in 2024, enabling over $100 billion in share buybacks and maintaining a strong net cash position.
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