[jsz0]

It could also be that FY2013 was just a dud for Apple product updates. Starting with the iPhone 5, that was released in FY2012 but primarily sold in FY2013, there were considerable supply issues along with some blowback on the new Lighting connector. Moving onto the iPad Mini we have a low resolution tablet with a -1 generation processor at a premium price. All indications are it sold well but I'm not sure it spoke well of Apple's reputation selling quality products. The display was simply not good and a quick glance could inform any non-technical people of that. We also got the iPad 4 which was merely a CPU upgrade with no reduction in weight or thickness.

Then we have the new iMac which also faced some supply problems and delays and offered customers something they probably didn't even care about -- a thinner desktop all-in-one PC. IIRC the Ivy Bridge update to the Mac Mini eliminated a SKU that offered a semi-decent GPU. Then Apple disappeared for a very long time and later in the year introduced Haswell updates to only the MacBook Airs leaving informed MacBook Pro would-be buyers facing old technology with a premium price tag.

Next we have the iPhone 5C which in most ways is a step backwards from the premium quality iPhone 4S (or would be iPhone 5) that occupied that price point. Contract free the device is totally non-competitive on pricing compared to better Android devices. The 5S was quite a good -S model upgrade however consumers are starting to get wise to the tick tock strategy and perhaps are choosing to wait for the iPhone 6 upgrade.

I've been watching Apple for quite a while now and FY2013 was not a great year for product upgrades. I'm actually kind of surprised they only took a 2% hit on profits.