3 Q-3` Gross profit and profit margins followed similar patterns in years 2011, 2012 and 2013 for Apple Inc. 2011 2012 2013 Gross Profit Margin 40.5% 43.9% 37.6% Profit Margin 23.9% 26.7% 21.7% What could explain the increase of ratios in 2012? Reducing operating expenses relative to sales The introduction of new products or versions of a product with temporarily higher margins The acquisition of small tech companies