Apple's margin crunch

The latest numbers may have managed to meet market expectations but Apple's margins failed to improve in the quarter. So, what's behind the squeeze?

Apple’s latest quarterly numbers may have managed to meet market expectations but there are signs of a margin crunch for the tech giant. Horace Dediu takes a stab at what might be behind the squeeze.

I really expected Apple’s margins to improve last quarter. They didn’t and so the question I needed to answer is why. Here is a history of Apple’s gross margin and operating margin as reported since late 2005:

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