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Who Are Apple's Competitors And Customers Case Study

Apple

Annual cash flow from operating activities for 2022 was$122.151B, a17.41% increasefrom 2021.

Annual net income for 2022 was$99.803B, a5.41% increasefrom 2021.

Annual sales for 2022 was$394.328B, a7.79% increasefrom 2021.

Total assets for 2022 were$352.755B, a0.5% increasefrom 2021 (Apple Inc., 2023).

Total employees were 147,000.

Apples core products are the Mac, iPhone, iPad, iPod, Apple Watch, Apple TV, iOS, and services via iTunes, Apple Store, Apple Pay, Apple Music, iCloud, and others.

Apples competitors in the smartphone and computer sector include Samsung, Google, and Microsoft; Amazon in cloud and streaming services.

Apples customers are in the 18-45 age range and skew primarily female with two-thirds of the companys customers being women.

Apples suppliers come primarily from Asia (China, Japan, Taiwan).

Apple markets and distributes its products through a combination of methods, including its online and retail stores, third-party resellers, and other indirect distribution channels. Apple's marketing approach often emphasizes the sleek design, quality, and innovation of its products. They have a strong focus on branding...

The company differentiates itself by offering high-quality, innovative, and user-friendly products with a premium design. Apple's ecosystem of products and services, such as iPhone, iPad, Mac, Apple Watch, Apple TV, and various software and services, work seamlessly together, providing customers with a unique and integrated experience.

Critical business processes for Apple,...

…susceptible to material misstatements and design audit procedures to address those risks.

Auditors do not have the responsibility to identify or assess all business risks because their primary responsibility is to express an opinion on the fairness of the financial statements, not to evaluate the overall business strategy or management decisions. The scope of an audit is limited to providing reasonable assurance that the financial statements are free of material misstatements, whether due to error or fraud. Auditors should consider certain business risks that could impact the financial statements, such as changes in the regulatory environment, operational risks, and financial risks

References

Apple Inc. (2023). Form 10-K for the fiscal year ended…

Sources used in this document:

References

Apple Inc. (2023). Form 10-K for the fiscal year ended 2022. U.S. Securities and ExchangeCommission. https://investor.apple.com/sec-filings/sec-filings-details/default.aspx?FilingId=16157374

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