Editing Apple Inc. (section)

=== Financial Performance: Resilience Amid Challenges   ===
Apple’s 2023 financial performance showcased a mix of resilience and strategic foresight. Despite a slight 2.8% decline in annual revenue to $383.285 billion<ref>{{cite web |url=https://www.macrotrends.net/stocks/charts/AAPL/apple/revenue |quote=Apple's annual revenue for 2023 was $383.285 billion, a 2.8% decline from 2022. }}</ref>, the company achieved record-breaking profitability metrics, including a 44% gross profit margin<ref>{{cite web |url=https://www.forrester.com/blogs/apple-sales-and-profits-analysis-for-fy-2023-top-10-insights/ |quote=Apple reported a record gross profit margin of 44% in FY 2023. }}</ref> and a 30% operating profit margin, with operating income reaching $114 billion<ref>{{cite web |url=https://www.forrester.com/blogs/apple-sales-and-profits-analysis-for-fy-2023-top-10-insights/ |quote=Apple's operating income in FY 2023 was $114 billion, with an operating profit margin of 30%. }}</ref>. Net income saw a modest 2.17% decrease to $23.64 billion<ref>{{cite web |url=https://www.mexem.com/blog/apple-inc-financial-performance-and-strategic-updates |quote=Apple achieved a net income of $23.64 billion in 2023, a slight decrease of 2.17% compared to the previous year. }}</ref>, while earnings per share (EPS) edged up by 0.66% to $1.53<ref>{{cite web |url=https://www.mexem.com/blog/apple-inc-financial-performance-and-strategic-updates |quote=Apple's earnings per share (EPS) in 2023 increased marginally by 0.66% to $1.53. }}</ref>, reflecting its ability to maintain shareholder value in a challenging economic climate. Operationally, Apple demonstrated remarkable efficiency, with its supply chain performance remaining robust, as evidenced by its expanding gross margin and a negative cash-to-cash cycle.