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How Apple ($AAPL) sliced its pie in 2009

Steve Jobs likes to describe Apple's (AAPL) business model as a stool built on three-legs: the Mac, the iPod and the iPhone. But a quick glance at the 2009 Form 10-K, which Apple filed on Tuesday, shows that it is now more like a four-leg chair, with a couple of wedge-shaped pillows on the side. The Mac and iPod still bring in the biggest part of Apple's total sales revenue - 37.7% and 22.1%, respectively - but their shares of the pie are shrinking. The iPhone, meanwhile, is rapidly catching up, thanks to unit sales that grew 78% and GAAP revenue (swelled by deferred revenue dating back to 2007) that grew 266%. The iPhone now accounts for 18.5% of Apple's sales, just behind the iPod. The fourth leg of the chair is the line item Apple calls "other music related products and services" but which is mostly iTunes Store sales - music, video and apps. It continues to grow at a steady pace and now represents about 11% of Apple's net sales. (fortune.cnn.com)

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2 total votes | Comments (0) | Created by steve on 2009-10-28 - Login to vote or comment!