Internal Continuous Evaluation – Research Project
Apple Inc.
Submitted by
Aftab Singh
B.B.A. LL.B. (2022-27), Division – B
PRN – 22010224063
Symbiosis Law School, NOIDA
Symbiosis International (Deemed University), Pune
In
August, 2023
Under the guidance of
Dr. Khalid Khan
(Visiting Faculty, Business Statistics)
Symbiosis Law School, NOIDA
TABLE OF CONTENTS
S.No.
Topic
Page No.
1.
Introduction
3
2.
Data and Methods
4–5
3.
Analysis
6 – 10
4.
Interpretation
10 – 12
5.
Conclusion
13
INTRODUCTION
Apple Inc. is a multinational technology company renowned for its innovation in consumer
electronics, software, and services. Established in 1976 by Steve Jobs, Steve Wozniak, and
Ronald Wayne, Apple has evolved into a global powerhouse with a distinct focus on crafting
premium, user-centric products. The company's core business revolves around designing,
developing, and marketing a wide range of products and services, including the iconic iPhone,
iPad, Mac computers, iTunes, iCloud, and more. Apple holds a prominent financial stance, with
annual revenues exceeding $390 billion and a market capitalization surpassing $2.7 trillion. Its
consistent profitability is reflected in a net income of over $95 billion. The company's global
influence is sustained by selling millions of iPhones, iPads, and Macs each year, supported by
a loyal customer base and diversified services ecosystem.
The project aims to conduct a comprehensive study of Apple Inc.'s financial performance by
examining its revenue and net income trends from 2013 to 2022 using data from Statista. The
study interprets patterns by employing methods like tabulation and visualization techniques
such as bar graphs and histograms, offering insights into the financial trends of Apple. The
report follows a structured format containing methodology, analysis, interpretation, and
suggestions.
DATA AND METHODS
This project, based on data sourced from Statista1, undertakes a thorough analysis of Apple
Inc.'s revenue and net income trends from 2013 to 2022. The data has been analysed through
methods including tabulation and median calculation. The study involves understanding
various statistical concepts such as class intervals, frequency, class mark, class width,
frequency density, relative frequency, and cumulative frequency for both less than and more
than types. To visually represent the findings, bar graphs, histograms, and ogives have been
derived from Microsoft Excel. The dataset includes the past 10 years of financial data, focusing
on two key variables: revenue and net income2. This project aims to provide valuable insights
into Apple's financial performance, shedding light on patterns, fluctuations, and contributing
factors for a better understanding of the company’s sustained successful business model.
Tools of Statistics: Frequency Distribution Table: It is a systematic arrangement of data into classes or intervals,
along with the corresponding frequencies, displaying how often each value or range occurs. It
provides a clear summary of data distribution and aids in identifying patterns and outliers.
Cumulative Frequency: Cumulative frequency is a concept often used with frequency
distributions. It shows the total number of occurrences of values up to a certain point in the
dataset. It is calculated by adding the frequencies of values in a frequency table. It helps provide
insights into the overall distribution of the data and is particularly useful for creating
cumulative frequency curves.
1
Apple. (October 28, 2022). Global revenue of Apple from 2004 to 2022 (in billion U.S. dollars) [Graph]. In
Statista. Retrieved August 21, 2023, from https://www.statista.com/statistics/265125/total-net-sales-of-applesince-2004/
2
Apple. (October 27, 2022). Apple's net income in the company's fiscal years from 2005 to 2022 (in billion U.S.
dollars) [Graph]. In Statista. Retrieved August 21, 2023, from https://www.statista.com/statistics/267728/applesnet-income-since-2005/
Bar Graphs: The graphical representation of data using rectangular bars, with each bar's length
proportional to data values. Suitable for discrete data and categorical comparisons, allowing
quick visual comparisons and trends identification among different groups or categories.
Histograms: Used for visual data representation using adjacent bars to display frequency or
frequency density distribution within predefined intervals. Ideal for displaying data
distribution, central tendency, and spread insights, especially for continuous data.
Ogives: It is the Cumulative frequency graph presenting data distribution. It illustrates the
cumulative total of frequencies below various data values, using connected points along class
boundaries. Helpful for comprehending data spread, percentiles, and distribution
characteristics.
ANALYSIS
Variable No. 1 – Revenue
Tabular representation of Apple’s worldwide revenue (2013-2022)
Apple's revenue worldwide 2013-2022
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
(in billion U.S. dollars)
170.90
182.80
233.72
215.64
229.23
265.60
260.17
274.52
345.82
394.33
Given below is graphical representation of Apple’s global revenue from 2013 - 2022 in the
form of a bar graph.
Global revenue of Apple from 2013 to 2022 (in
billion U.S. dollars)
Apple's revenue worldwide 2013-2022
450.00
400.00
350.00
300.00
250.00
200.00
150.00
100.00
50.00
0.00
2013
2014
2015
2016
2017
2018
Year
2019
2020
2021
2022
Frequency Distribution Table
Class Interval
Frequency
Class Width
150 - 200
2
50
200 - 250
3
50
250 - 300
3
50
300 - 350
1
50
350 - 400
1
50
Class Midpoint
175
225
275
325
375
Frequency Density
0.04
0.06
0.06
0.02
0.02
Relative Frequency
0.2
0.3
0.3
0.1
0.1
Following is the graphical representation of the frequency in the form of a Histogram:
Apple's revenue worldwide 2013-2022
3.5
3
Frequency
2.5
2
1.5
1
0.5
0
150 - 200
200 - 250
250 - 300
300 - 350
350 - 400
Revenue (in billion U.S. dollars)
Cumulative Frequency Table
Class Interval
Frequency
Lower Limit
Upper Limit
Less Than Cumulative Frequency
More Than Cumulative Frequency
150 - 200
200 - 250
250 - 300
300 - 350
350 - 400
2
3
3
1
1
150
200
250
300
350
200
250
300
350
400
2
5
8
9
10
10
8
5
2
1
Following is the graphical representation of the Cumulative Frequency in the form of an
Ogive:
Cumulative Frequncy
Ogive (Cumulative Frequncy Curve)
15
10
10
8
5
2
8
9
2
1
300
350
10
5
0
0
50
100
150
200
250
400
450
Revenue (in billion U.S. dollars)
Less than Ogive
More than Ogive
Variable No. 2 – Net Income
Tabular representation of Apple’s net income (2013-2022)
(in billion U.S. dollars)
37.04
39.51
53.39
45.69
48.35
60.53
65.26
77.41
94.68
99.80
Apple's net income 2013-2022
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Given below is graphical representation of Apple’s global net income from 2013 - 2022 in
the form of a bar graph.
Apple's net income in the company's
fiscal years from 2013 to 2022 (in billion
U.S. dollars)
Apple's net income 2013-2022
120.00
100.00
80.00
60.00
40.00
20.00
0.00
2013
2014
2015
2016
2017
2018
Years
2019
2020
2021
2022
Frequency Distribution Table
Class Boundaries
30 - 45
45 - 60
60 -75
75- 90
90 -105
Frequency
2
3
2
1
2
Class Width
15
15
15
15
15
Class Midpoint
37.5
52.5
67.5
82.5
97.5
Frequency Density
0.13
0.2
0.13
0.07
0.13
Relative Frequency
0.2
0.3
0.2
0.1
0.2
Following is the graphical representation of the frequency in the form of a Histogram:
Apple's Net Income from 2013 to 2022
3.5
3
Frequency
2.5
2
1.5
1
0.5
0
30 - 45
45 - 60
60 -75
75- 90
90 -105
Net Income (in billion U.S. dollars)
Cumulative Frequency Table
Class Boundaries
Frequency
Lower Limit
Upper Limit
30 - 45
45 - 60
60 -75
75- 90
90 -105
2
3
2
1
2
30
45
60
75
90
45
60
75
90
105
Cumulative Frequency
(Less Than)
2
5
7
8
10
Cumulative Frequency (More
Than)
10
7
5
4
2
Following is the graphical representation of the Cumulative Frequency in the form of an
Ogive:
Ogive (Cumulative Frequency Curve)
12
10
10
Cumulative Frequency
10
8
8
7
6
7
5
4
4
2
2
2
0
0
20
40
60
80
100
120
Net Income (in billion U.S. dollars)
Less than Ogive
More than Ogive
INTERPRETATION
Over a decade, from 2013 to 2022, Apple's revenue trajectory exhibited a consistent pattern of
growth, interspersed with occasional fluctuations. This trend underscores the company's
remarkable ability to expand its global market presence, maintain the loyalty of its existing
customer base, and continually attract new consumers. Noteworthy are the substantial spikes
in revenue experienced in 2014, 2015, and 2021, which can be attributed to successful product
launches and the company's agility in adapting to evolving market dynamics. Even in years
like 2016, when there was a slight dip in revenue, Apple demonstrated its resilience by
rebounding swiftly in subsequent years. The most significant landmarks were undoubtedly the
years 2021 and 2022, characterized by the attainment of record-breaking revenue figures. This
achievement can be attributed to a variety of factors, including the introduction of innovative
products, heightened demand driven by remote work trends, digitalization shifts, and the
adequate diversification of Apple's product and service portfolio. Apple's capacity to navigate
global economic challenges and its proficiency in addressing changing consumer behaviours
showcased its strong adaptability throughout this period. The pivotal role of product releases,
including new models of iPhones, iPads, MacBooks, and wearables, in propelling revenue
growth is evident. Notably, Apple's success story is intricately woven into broader economic
and technological trends, reflecting the growing reliance on technology, the expansion of the
smartphone market, and the enduring power of the brand of Apple. In essence, the ten-year
revenue journey of Apple demonstrates not only its business acumen but also its profound
resonance with the ever-evolving technological landscape and its commitment to sustained
innovation. The median of Apple's worldwide revenue from 2013 to 2022 is $243.97 billion.
It highlights that while Apple experienced both growth and declines during this period, the
median provides a balanced perspective, showing the revenue point around which the values
cluster. The median value underscores the company's ability to consistently generate substantial
revenue, despite yearly fluctuations. Notably, the years 2021 and 2022 far exceed the median,
indicating particularly robust growth during these periods, possibly driven by successful
product launches, shifting market trends, and increased demand for technology.
Apple's net income over the past decade has showcased a dynamic trajectory, reflecting the
company's evolving financial performance. Beginning at 37.04 billion in 2013, the subsequent
years witnessed fluctuations that hinted at both incremental growth and strategic shifts. The
figures surged gradually with notable strides, touching 99.80 billion in 2022. This upward trend
was marked by occasional deviations, suggesting challenges and strategic successes. The
remarkable surge from 2018 to 2022 is particularly noteworthy, where Apple's net income
jumped from 60.53 to 99.80 billion. Such consistent growth hints at the company's capacity to
adapt and capitalize on market dynamics. The progression from a modest initial figure to a
substantial one indicates Apple's adeptness at innovation and its strategic positioning in the
tech landscape. At the same time, occasional plateaus allude to competitive pressures and
market forces that continue to shape its financial journey. The median net income for Apple
from 2013 to 2022 is around $56.96 billion. This value highlights the balance in Apple's
financial performance during this period. This stability suggests a consistent financial core,
despite varying annual net incomes. The median's location between early and recent years
showcases Apple's financial evolution, offering insights into the company's overall financial
health over the time frame.
CONCLUSION
From 2013-2022, Apple's revenue exhibited consistent growth punctuated by sporadic
fluctuations. This trend underscores Apple's ability to expand its global market presence, retain
customer loyalty, and attract new consumers. Notable revenue spikes in 2014, 2015, and 2021
were due to successful product launches and adaptability to market changes. Even in slightly
weaker years like 2016, Apple quickly rebounded. The standout years were 2021 and 2022,
marked by record-breaking revenues attributed to innovative product releases, remote work
trends, digitalization, and product diversification. Apple adeptly tackled global economic
challenges and evolving consumer behaviour. Product launches, including iPhones and
wearables, were pivotal for revenue growth. Apple's story mirrors technological reliance,
smartphone market expansion, and brand recall. The median revenue across 2013-2022 was
$243.97 billion, representing consistent, substantial income despite fluctuations. Net income
grew dynamically, with notable strides from 2018 to 2022, showcasing Apple's adaptability
and strategic prowess. The median net income was around $56.96 billion, reflecting stability
amidst varying annual incomes and indicating Apple's solid financial evolution.
Suggestions for Apple: 1) Diversification through Innovation: Expand beyond traditional products by investing
in emerging technologies like AR/VR or renewable energy solutions. This cultivates
new revenue streams, reduces dependence on existing products, and positions Apple as
a market leader.
2) Distinctive Market Positioning: Strengthen market research to determine evolving
consumer preferences. Craft products with unique features and design elements, setting
Apple apart in saturated markets and captivating consumers seeking novel experiences.
3) Strategic Collaborations: Develop partnerships with influential entertainment,
content creation, and tech startup entities. Such collaborations can infuse fresh
perspectives, expand Apple's offerings, and tap into previously untapped demographic
markets.
REFERENCES
(1)
Softwares
a) Microsoft Excel
b) Microsoft PowerPoint
(2)
Databases
a) Apple. (October 28, 2022). Global revenue of Apple from 2004 to 2022 (in
billion U.S. dollars) [Graph]. In Statista. Retrieved August 21, 2023, from
https://www.statista.com/statistics/265125/total-net-sales-of-apple-since-2004/
b) Apple. (October 27, 2022). Apple's net income in the company's fiscal years
from 2005 to 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved
August 21, 2023, from https://www.statista.com/statistics/267728/apples-netincome-since-2005/
(3)
Online Sources
a) https://en.wikipedia.org/wiki/Apple_Inc
b) https://beloved-brands.com/apple-case-study/
c) https://hbr.org/2020/11/how-apple-is-organized-for-innovation