And services to provide its customers new products

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and services to provide its customers new products and solutions with superior ease-of-use, seamless integration, and innova- ive industrial design. The Company believes continual investment in research and development is critical to continued
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2-33 Module 2 I Overview of Business Activities and Financial Statements continued from prior page the development and enhancement of innovative products and technologies. In conjunction with its strategy, the Company continues to build and host a robust platform for the discovery and delivery of third-party digital content and applications through the iTunes Store .... Additionally, the Company's strategy includes expanding its distribution to effectively reach more customers and provide them with a high-quality sales and post-sales support experience. The Company is therefore uniquely positioned to offer superior and well-integrated digital lifestyle and productivity solutions. Management's Discussion and Analysis of Financial Condition and Results of Operations (Item 7) The management discussion and analysis (MD&A) section of the lO-K contains valuable insight into the compa- ny's results of operations. In addition to an executive overview of company status and its recent operating results, the MD&A section includes information relating to its critical accounting policies and estimates used in prepar- ing its financial statements, a detailed discussion of its sales activity, year-over-year comparisons of operating activities, analysis of gross margin, operating expenses, taxes, and off-balance-sheet and contractual obligations, assessment of factors that affect future results and financial condition. Item 7A reports quantitative and qualitative disclosures about market risk. For example, Apple makes the following disclosure relating to its Mac operating system and its iPods, iPhones, iPads and other products. The Company is currently the only maker of hardware using the Mac OS. The Mac OS has a minority market share in the personal computer market, which is dominated by makers of computers using competing operat- ing systems, most notably Windows. The Company's financial condition and operating results substantially depend on its ability to continually develop improvements to the Mac platform to maintain perceived design and functional advantages. Use of unauthorized copies of the Mac OS on other companies' hardware products may result in decreased demand for the Company's hardware products, and materially adversely affect its financial condition and operating results. Form 8-K Another useful report that is required by the SEe and is publicly available is the Form 8-K. This form must be filed within four business days of any of the following events: Entry into or termination of a material definitive agreement (including petition for bankruptcy) Exit from a line of business or impairment of assets Change in the company's certified public accounting firm Change in control of the company Departure of the company's executive officers Changes in the company's
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