Apple’s annual report (10-K) highlights

“Apple today filed its annual report (SEC form 10-K) with the Securities and Exchange Commission. In the report, Apple discusses its business model and some operational specifics, and makes particular reference to the digital music market. ‘While the Company is widely recognized as an innovator in the personal computer market as well as a leader in the emerging market for distribution of digital music, these are highly competitive markets that are subject to aggressive pricing and increased competition,’ notes Apple. ‘In order to remain competitive, the Company believes that increased investment in research and development is necessary in order to maintain and extend its position in the markets where it competes,'” MacMinute reports.

Highlights from the report here.


  1. Aryugaetu,

    Don’t forget that unit sales increased only 9% because of the delay in the iMac G5 intro. Were it not for this delay, unit sales would have increased 13-15% over 2003.

    In fact, let’s look at how amazing Apple did in 2004 rather than look at the single sore spot in the product line

    Net Sales Compared to 2003
    PowerMac: Up 15%
    PowerBook sales: Up 22%
    iMac: Down 23%
    iBook: Up 34%
    iPod: Up 279%
    Other Music Products: Up 679%
    Peripherals and Other Hardware: Up 38%
    Software: Up 39%
    Services and other sales: Up 13%

    Unit Sales Compared to 2003
    PowerMac: Up 6%
    PowerBook sales: Up 30%
    iMac: Down 16%
    iBook: Up 36%
    iPod: Up 370%

    Look at the growth in both unit sales and net sales throughout Apple. It’s simply incredible. The iMac delay had a huge impact in dragging down overall results, but the iMac G5 is selling like hotcakes, and we should be looking forward to even more impressive 2005 numbers, hopefully free of product intro debacles.

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