| Stage | IBM | % of rev | AAPL | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $17.1B | 100.00% | $114B | 100.00% | AAPL ×6.69 |
| Gross profit | $9.7B | 56.80% | $54.8B | 47.89% | IBM +8.9pp |
| Operating income | $3.0B | 17.48% | $35.6B | 31.13% | AAPL +13.6pp |
| Pre-tax income | $2.5B | 14.60% | $36.1B | 31.57% | AAPL +17.0pp |
| Net income | $2.2B | 12.80% | $30.7B | 26.83% | AAPL +14.0pp |
| Stage | IBM | AAPL | Gap · A − B |
|---|---|---|---|
| Revenue | $17.1B100.00% | $114B100.00% | AAPL ×6.69 |
| Gross profit | 56.80%$9.7B | 47.89%$54.8B | IBM +8.9pp |
| Operating income | 17.48%$3.0B | 31.13%$35.6B | AAPL +13.6pp |
| Pre-tax income | 14.60%$2.5B | 31.57%$36.1B | AAPL +17.0pp |
| Net income | 12.80%$2.2B | 26.83%$30.7B | AAPL +14.0pp |
IBM · SNX 10-KJan 24 '25
“Our primary OEM suppliers include Apple, Inc., Cisco Systems, Inc., Dell, Inc., Hewlett-Packard Enterprise Company, HP Inc., International Business Machines Corporation, Lenovo Group Ltd., Microsoft Corporation, and Samsung Electronics Co., Ltd.”
AAPL · SNX 10-KJan 24 '25
“Apple, Inc. 12 % 11 % 11 %”