In terms of product design and UX, Apple Inc. is one of the most innovative companies in the world and has a history of creating revolutionary products that have changed the way we live. The iPhone, iPad, and iMac are just a few examples of its game-changing products. The company has a strong balance sheet with over $111.4 billion in free cash flows and is well-positioned to continue its incredible run of success in the years to come.
Apple Inc. grew revenues +5% (foreign exchange adjusted and excluding Russia) driven by record iPhone revenues that were up about +3% on an exceptional year ago comparison of +50%. Apple’s installed base is over 1.8 billion devices which helps drive a software and services business that has generated almost $80 billion of revenue over the past four quarters. As highlighted in the past, Apple’s relentless efforts to improve UX, as well as the development and integration between hardware (especially ICs), continues to add significant value for customers in its products and services. We expect this favorable competitive dynamic to continue for the foreseeable future.