| Stage | AAPL | % of rev | GRMN | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $114B | 100.00% | $2.0B | 100.00% | AAPL ×57.64 |
| Gross profit | $54.8B | 47.89% | $1.3B | 63.33% | GRMN +15.4pp |
| Operating income | $35.6B | 31.13% | $612M | 30.80% | AAPL +0.3pp |
| Pre-tax income | $36.1B | 31.57% | $661M | 33.29% | GRMN +1.7pp |
| Net income | $30.7B | 26.83% | $542M | 27.27% | GRMN +0.4pp |
| Stage | AAPL | GRMN | Gap · A − B |
|---|---|---|---|
| Revenue | $114B100.00% | $2.0B100.00% | AAPL ×57.64 |
| Gross profit | 47.89%$54.8B | 63.33%$1.3B | GRMN +15.4pp |
| Operating income | 31.13%$35.6B | 30.80%$612M | AAPL +0.3pp |
| Pre-tax income | 31.57%$36.1B | 33.29%$661M | GRMN +1.7pp |
| Net income |
| 26.83%$30.7B |
| 27.27%$542M |
| GRMN +0.4pp |
AAPL · SWKS 10-KNov 7 '25
“In each of the fiscal years ended October 3, 2025 ("fiscal 2025"), September 27, 2024 ("fiscal 2024"), and September 29, 2023 ("fiscal 2023"), Apple, through sales to multiple distributors and contract manufacturers for multiple applications including smartphones, tablets, desktop and notebook computers, watches, and other devices, constituted more than ten percent of our net revenue.”
GRMN · SWKS 10-KNov 7 '25
“Our key customers include Amazon, Apple Inc. ("Apple"), Arcadyan, Arris, Bose, Ciena, Cisco, Ericsson, Fibocom, Garmin, Gemalto (a Thales company), General Electric, Google, Honeywell, Itron, Lenovo, LG Electronics, Microsoft, Motorola, NETGEAR, Nokia, Northrop Grumman, OPPO, Rockwell Collins, Sagemcom, Samsung, Schneider Electric, Sierra Wireless, Sonos, Sony, Technicolor, Telit, Tesla, TP-Link, VIVO, and Xiaomi.”