혁신과 기업가치: 애플 재무제표에 나타난 혁신의 대가

This study explores how the iPhone has impacted Apple's performance and corporate value through financial statements. While many studies have examined the effect of the iPhone on Apple company, little attention has been paid to how the iPhone has contributed to Apple's profitability and corporate value using financial metrics. In this study, I introduce theories and academic literature on the relationship between innovation, economic growth, and corporate value. Next, after introducing the iPhone launch process, I explain the trends in Apple's stock price and market value based on its sales and profits. Moreover, this study demonstrates how Apple has generated substantial profits through its innovation by analyzing the value-added distribution within the iPhone's value chain. This study also illustrates how Apple has challenged traditional management strategies based on the DuPont formula by leveraging its first-mover advantage. This study represents that the iPhone is not merely a product strategy, but a strategic innovation that alters business models and reshapes industry ecosystems. This study aims to help students understand and analyze the structure and information provided by financial statements in university courses and contribute to recognizing the usefulness of financial information.