1. 1
asymco
Precise Passion
Trajectories of Innovative Companies
Sunday, January 29, 12

2. 2
Revenues by Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m
Windows & Windows Live Mac
$37,500m
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

3. 3
Revenues by Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m
Server and Tools
Windows & Windows Live
$37,500m
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

4. 4
Revenues by Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m
Online Services Peripherals
Server and Tools Software
Windows & Windows Live Mac
$37,500m
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

5. 5
Revenues by Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m
Microsoft Business iPod
Online Services Peripherals
Server and Tools Software
Windows & Windows Live Mac
$37,500m
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

6. 6
Microsoft Revenues by
Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m
Entertainment and Devices Music
Microsoft Business iPod
Online Services Peripherals
Server and Tools Software
Windows & Windows Live Mac
$37,500m
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

7. 7
Microsoft Revenues by
Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m iPhone
Entertainment and Devices
Music
Microsoft Business
iPod
Online Services
Peripherals
Server and Tools
Software
Windows & Windows Live
$37,500m Mac
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

8. 8
Microsoft Revenues by
Segment asymco
Curated Market Intelligence
Microsoft Revenues by Segment Apple Quarterly Revenues by Product
$45,000m
Entertainment and Devices iPad
Microsoft Business iPhone
Online Services Music
Server and Tools iPod
Windows & Windows Live Peripherals
$37,500m
Software
Mac
$30,000m
$22,500m
$15,000m
$7,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011 Q307 Q108 Q308 Q109 Q309 Q110 Q310 Q111 Q311
Sunday, January 29, 12

9. 9
Operating Income asymco
Apple Operating Income by Product Line
Curated Market Intelligence
Microsoft Operating Income by Division
$20,000m
Music
Microsoft Business iPod Microsoft Operating Income Consolidated
Server and Tools Apple Operating Income
Windows & Windows Live Peripherals
Entertainment and Devices Software
$15,000m Mac
iPad
iPhone
$10,000m
$5,000m
$0m
Corporate-level activity
Online Services
-$10,000m
Sept 30 2007 Jun 30, 2008 Mar 31, 2009 Dec 31, 2009 Sept 30 2010 Jun 30, 2011
Sunday, January 29, 12

10. 10 Operating Income iOS devices vs. Microsoft Consolidated
$15,000m
Microsoft Operating Income Consolidated
iOS Powered Devices Operating Income
$12,500m
asymco
Curated Market Intelligence
$10,000m
$7,500m
$5,000m
$2,500m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011
Sunday, January 29, 12

11. 11 Operating Income iPad vs. Microsoft Consolidated
$6,000m
Windows & Windows Live
iPad
$5,000m
asymco
Curated Market Intelligence
$4,000m
$3,000m
$2,000m
$1,000m
$0m
Sept 30 2007 Sept 30 2008 Sept 30 2009 Sept 30 2010 Sep 30, 2011
Sunday, January 29, 12