The chart above shows Apple’s quarterly gross margin for 2020 to 2023 in USD Billions. Compared to the same period of last year, Apple’s revenue, net income and gross margin remained lower in the first two quarters of 2023.
In the first two quarters of 2023, the company’s gross margin remained $50,332 and $41,976 million respectively. However, in the first two quarters of 2022, its gross margin was $54,243 million and $42,559 million respectively.
Quarterly Gross Margin of Apple 2015-2022
Amounts are in millions.
| FY 2015 | Gross Margin (Millions) |
| Q1 | $ 29,741 |
| Q2 | $ 23,656 |
| Q3 | $ 19,681 |
| Q4 | $ 20,548 |
| Total | $ 93,626 |
| FY2016 | Gross Margin (Millions) |
| Q1 | $ 30,423 |
| Q2 | $ 19,921 |
| Q3 | $ 16,106 |
| Q4 | $ 17813 |
| Total | $ 84,263 |
| FY 2017 | Gross Margin (Millions) |
| Q1 | $30,176 |
| Q2 | $20,591 |
| Q3 | $ 17,488 |
| Q4 | $ 19,931 |
| Total | $ 88,186 |
| FY 2018 | Gross Margin (Millions) |
| Q1 | $ 33,912 |
| Q2 | $ 23,422 |
| Q3 | $ 20,421 |
| Q4 | $ 24,084 |
| Total | $ 101,839 |
| FY 2019 | Gross Margin (Millions) |
| Q1 | $ 32,031 |
| Q2 | $21,821 |
| Q3 | $20,227 |
| Q4 | $24,313 |
| Total | $98,392 |
| Gross Margin | 2020 | 2021 | 2022 | 2023 |
| Q1 | $35,217 | $44,328 | $54,243 | $50,332 |
| Q2 | $22,370 | $38,079 | $42,559 | $41,976 |
| Q3 | $22,680 | $35,255 | $35,885 | |
| Q4 | $24,689 | $35,174 | $38,095 | |
| Annual | $104,956 | $152,836 | $170,782 |
2022: Apple’s gross margin increased to $170,782 million in 2022 compared to $152,836 million in 2021. In the first quarter of 2022, Apple’s gross margin remained $54,243 million compared to $44,328 million in the first quarter of 2021. Its gross margin in the second quarter increased by around $4.5 billion compared to the same quarter of prior year. Apple’s gross margin in the third quarter increased by $630 million only compared to the same quarter of the previous year. In the last quarter of 2022, Apple’s gross margin increased to $38,095 million compared to $35,174 million in the same quarter of the prior year.
2021: Apple experienced solid improvement in its gross margin throughout all the four quarters of 2021 compared to the same quarters of the prior year. In the first quarter of 2021, its gross margin increased by more than $9 billion compared to the same quarter of the previous year. Apple generated $44,328 million in gross margin in the first quarter of 2021 compared to $35,217 million in the same quarter of the previous year. During the second quarter also, the company experienced more than $15.5 billion increase in its gross margin compared to the same quarter of the prior year. Its gross margin in the second quarter of 2021 remained $38,079 million compared to $22,370 million in the same quarter of 2020.
Apple’s gross margin in the third quarter of 2020 again improved by more than $12.5 billion compared to the same quarter of the previous year. its 2020 third quarter gross margin remained $35,255 million compared to $22,680 million in the same quarter of the prior year. Apple’s gross margin for the fourth quarter of 2020 remained $35,174 million compared to $24,689 million in the same quarter of the prior year.
2019: Apple’s gross margin came down to $98.4 billion in 2019 compared to $101.84 billion last year.
Apple is a leading brand of computing produtcs and smartphone devices. Apart from them, it also manufactures and sells a large range of related software, services, accessories and third-party digital content and applications. Its range of products and services includes iPhone, iPad, Mac, Apple Watch, AirPods, Apple TV, HomePod, a portfolio of consumer and professional software applications, iOS, macOS, watchOS and tvOS operating systems, iCloud, Apple Pay and more accessories, services and support offerings. Apple also sales and deliver digital content and applications through iTunes Store, App Store, Mac App Store, TV App Store, Book Store and Apple Music. The company uses a mix of direct and indierct distribution channels for the sales of its products. In 2018, it achieved 29% of its sales through the direct channels and 71% through the indirect channels. Net sales of the company in FY2018 reached 265.6 Billion dollars and Net Income 59.5 billion dollars.