Apple Q4 2020

	A	B	C	D	E	F	G	H	I	J	K	L
1		Q4 2019										Q4 2020

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3	INPUT
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5	iPhone	33,362										26,444
6	Mac	6,991										9,032
7	iPad	4,656										6,797
8	Other product	6,520										7,876
9	Total product	51,529										50,149
10	Services	12,511										14,549
11	Total sales	64,040										64,698
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13	COGS - products	-35,238										-35,197
14	COGS - services	-4,489										-4,812
15	Total COGS	-39,727										-40,009
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17	Gross profit	24,313										24,689
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19	R&D	-4,110										-4,978
20	SGA	-4,578										-4,936
21	Total OPEX	-8,688										-9,914
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23	Operating income	15,625										14,775
24
25	MODEL
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27			iPhone	Mac	iPad	Other product	Services	GM - product	GM - services	R&D	SGA %
28	iPhone	33.4	26.4	33.4	33.4	33.4	33.4	33.4	33.4	33.4	33.4	26.4
29	Mac	7.0	7.0	9.0	7.0	7.0	7.0	7.0	7.0	7.0	7.0	9.0
30	iPad	4.7	4.7	4.7	6.8	4.7	4.7	4.7	4.7	4.7	4.7	6.8
31	Other product	6.5	6.5	6.5	6.5	7.9	6.5	6.5	6.5	6.5	6.5	7.9
32	Services	12.5	12.5	12.5	12.5	12.5	14.5	12.5	12.5	12.5	12.5	14.5
33	GM - product	31.6%	0.3	0.3	0.3	0.3	0.3	29.8%	0.3	0.3	0.3	29.8%
34	GM - services	64.1%	0.6	0.6	0.6	0.6	0.6	0.6	66.9%	0.6	0.6	66.9%
35	R&D	-4.1	-4.1	-4.1	-4.1	-4.1	-4.1	-4.1	-4.1	-5.0	-4.1	-5.0
36	SGA %	-7.1%	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1	-7.6%	-7.6%
37	Operating income	15.6	13.9	16.1	16.1	16.0	16.8	14.7	16.0	14.8	15.3	14.8
38	To explain											-0.9
39	Explained		-1.7	0.5	0.5	0.3	1.2	-0.9	0.4	-0.9	-0.3	-0.9
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