Data DeskAAPL

Module 06 · AAPL FY2018–FY2025

Apple, in public.

Services is the series that compounds. Eight fiscal years of 10-K prints, against the live tape.

Live tape

$313.45

52-week high

$344.57

52-week low

$224.69

FY2025 revenue

$416B

FY2025 net income

$112B

7-year rev CAGR

6.6%

AAPL revenue and net income

20182019202020212022202320242025

Services vs the rest

20182019202020212022202320242025

AAPL gross margin

2018201920202021202220232024202549.7%

AAPL EPS and the stock

20182019202020212022202320242025$303

AAPL revenue mix

Apple: Services through the stack

Services climbing through iPhone. Eight fiscal years of mix, not a slogan.

Services scaleSuper-cycleServices 20%+Services $109B20182019202020212022202320242025

FY2025 · Services 26.2% · 416B total.