
| California | 001-36743 | 94-2404110 | ||||||||||||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Title of each class |
Trading symbol(s) | Name of each exchange on which registered | ||||||
| Common Stock, $0.00001 par value per share | AAPL | The Nasdaq Stock Market LLC | ||||||
| 0.000% Notes due 2025 | — | The Nasdaq Stock Market LLC | ||||||
| 1.625% Notes due 2026 | — | The Nasdaq Stock Market LLC | ||||||
| 2.000% Notes due 2027 | — | The Nasdaq Stock Market LLC | ||||||
| 1.375% Notes due 2029 | — | The Nasdaq Stock Market LLC | ||||||
| 3.050% Notes due 2029 | — | The Nasdaq Stock Market LLC | ||||||
| 0.500% Notes due 2031 | — | The Nasdaq Stock Market LLC | ||||||
| 3.600% Notes due 2042 | — | The Nasdaq Stock Market LLC | ||||||
| Exhibit Number |
Exhibit Description | |||||||
| 99.1 | ||||||||
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K. | |||||||
| Date: | July 31, 2025 | Apple Inc. | |||||||||||||||
| By: | /s/ Kevan Parekh | ||||||||||||||||
| Kevan Parekh | |||||||||||||||||
| Senior Vice President, Chief Financial Officer |
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| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| June 28, 2025 |
June 29, 2024 |
June 28, 2025 |
June 29, 2024 |
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| Net sales: | |||||||||||||||||||||||
| Products | $ | 66,613 | $ | 61,564 | $ | 233,287 | $ | 224,908 | |||||||||||||||
| Services | 27,423 | 24,213 | 80,408 | 71,197 | |||||||||||||||||||
Total net sales (1) |
94,036 | 85,777 | 313,695 | 296,105 | |||||||||||||||||||
| Cost of sales: | |||||||||||||||||||||||
| Products | 43,620 | 39,803 | 147,097 | 140,667 | |||||||||||||||||||
| Services | 6,698 | 6,296 | 19,738 | 18,634 | |||||||||||||||||||
| Total cost of sales | 50,318 | 46,099 | 166,835 | 159,301 | |||||||||||||||||||
| Gross margin | 43,718 | 39,678 | 146,860 | 136,804 | |||||||||||||||||||
Operating expenses: |
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Research and development |
8,866 | 8,006 | 25,684 | 23,605 | |||||||||||||||||||
Selling, general and administrative |
6,650 | 6,320 | 20,553 | 19,574 | |||||||||||||||||||
Total operating expenses |
15,516 | 14,326 | 46,237 | 43,179 | |||||||||||||||||||
Operating income |
28,202 | 25,352 | 100,623 | 93,625 | |||||||||||||||||||
Other income/(expense), net |
(171) | 142 | (698) | 250 | |||||||||||||||||||
Income before provision for income taxes |
28,031 | 25,494 | 99,925 | 93,875 | |||||||||||||||||||
Provision for income taxes |
4,597 | 4,046 | 15,381 | 14,875 | |||||||||||||||||||
Net income |
$ | 23,434 | $ | 21,448 | $ | 84,544 | $ | 79,000 | |||||||||||||||
Earnings per share: |
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Basic |
$ | 1.57 | $ | 1.40 | $ | 5.64 | $ | 5.13 | |||||||||||||||
Diluted |
$ | 1.57 | $ | 1.40 | $ | 5.62 | $ | 5.11 | |||||||||||||||
Shares used in computing earnings per share: |
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Basic |
14,902,886 | 15,287,521 | 14,992,898 | 15,401,047 | |||||||||||||||||||
Diluted |
14,948,179 | 15,348,175 | 15,051,726 | 15,463,175 | |||||||||||||||||||
(1) Net sales by reportable segment: |
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Americas |
$ | 41,198 | $ | 37,678 | $ | 134,161 | $ | 125,381 | |||||||||||||||
Europe |
24,014 | 21,884 | 82,329 | 76,404 | |||||||||||||||||||
Greater China |
15,369 | 14,728 | 49,884 | 51,919 | |||||||||||||||||||
Japan |
5,782 | 5,097 | 22,067 | 19,126 | |||||||||||||||||||
Rest of Asia Pacific |
7,673 | 6,390 | 25,254 | 23,275 | |||||||||||||||||||
Total net sales |
$ | 94,036 | $ | 85,777 | $ | 313,695 | $ | 296,105 | |||||||||||||||
(1) Net sales by category: |
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iPhone |
$ | 44,582 | $ | 39,296 | $ | 160,561 | $ | 154,961 | |||||||||||||||
Mac |
8,046 | 7,009 | 24,982 | 22,240 | |||||||||||||||||||
iPad |
6,581 | 7,162 | 21,071 | 19,744 | |||||||||||||||||||
Wearables, Home and Accessories |
7,404 | 8,097 | 26,673 | 27,963 | |||||||||||||||||||
Services |
27,423 | 24,213 | 80,408 | 71,197 | |||||||||||||||||||
Total net sales |
$ | 94,036 | $ | 85,777 | $ | 313,695 | $ | 296,105 | |||||||||||||||
| June 28, 2025 |
September 28, 2024 |
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| ASSETS: | |||||||||||
Current assets: |
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Cash and cash equivalents |
$ | 36,269 | $ | 29,943 | |||||||
Marketable securities |
19,103 | 35,228 | |||||||||
Accounts receivable, net |
27,557 | 33,410 | |||||||||
Vendor non-trade receivables |
19,278 | 32,833 | |||||||||
Inventories |
5,925 | 7,286 | |||||||||
Other current assets |
14,359 | 14,287 | |||||||||
Total current assets |
122,491 | 152,987 | |||||||||
Non-current assets: |
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Marketable securities |
77,614 | 91,479 | |||||||||
Property, plant and equipment, net |
48,508 | 45,680 | |||||||||
Other non-current assets |
82,882 | 74,834 | |||||||||
Total non-current assets |
209,004 | 211,993 | |||||||||
Total assets |
$ | 331,495 | $ | 364,980 | |||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY: | |||||||||||
Current liabilities: |
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Accounts payable |
$ | 50,374 | $ | 68,960 | |||||||
Other current liabilities |
62,499 | 78,304 | |||||||||
Deferred revenue |
8,979 | 8,249 | |||||||||
Commercial paper |
9,923 | 9,967 | |||||||||
Term debt |
9,345 | 10,912 | |||||||||
Total current liabilities |
141,120 | 176,392 | |||||||||
Non-current liabilities: |
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Term debt |
82,430 | 85,750 | |||||||||
Other non-current liabilities |
42,115 | 45,888 | |||||||||
Total non-current liabilities |
124,545 | 131,638 | |||||||||
Total liabilities |
265,665 | 308,030 | |||||||||
Commitments and contingencies |
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Shareholders’ equity: |
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Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,856,722 and 15,116,786 shares issued and outstanding, respectively |
89,806 | 83,276 | |||||||||
| Accumulated deficit | (17,607) | (19,154) | |||||||||
| Accumulated other comprehensive loss | (6,369) | (7,172) | |||||||||
Total shareholders’ equity |
65,830 | 56,950 | |||||||||
Total liabilities and shareholders’ equity |
$ | 331,495 | $ | 364,980 | |||||||
| Nine Months Ended | |||||||||||
| June 28, 2025 |
June 29, 2024 |
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| Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances | $ | 29,943 | $ | 30,737 | |||||||
| Operating activities: | |||||||||||
| Net income | 84,544 | 79,000 | |||||||||
| Adjustments to reconcile net income to cash generated by operating activities: | |||||||||||
| Depreciation and amortization | 8,571 | 8,534 | |||||||||
| Share-based compensation expense | 9,680 | 8,830 | |||||||||
| Other | (1,748) | (1,964) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts receivable, net | 5,685 | 6,697 | |||||||||
| Vendor non-trade receivables | 13,555 | 11,100 | |||||||||
| Inventories | 1,223 | 41 | |||||||||
| Other current and non-current assets | (6,116) | (5,626) | |||||||||
| Accounts payable | (18,479) | (15,171) | |||||||||
| Other current and non-current liabilities | (15,161) | 2 | |||||||||
| Cash generated by operating activities | 81,754 | 91,443 | |||||||||
| Investing activities: | |||||||||||
| Purchases of marketable securities | (17,591) | (38,074) | |||||||||
| Proceeds from maturities of marketable securities | 35,036 | 39,838 | |||||||||
| Proceeds from sales of marketable securities | 10,785 | 7,382 | |||||||||
| Payments for acquisition of property, plant and equipment | (9,473) | (6,539) | |||||||||
| Other | (975) | (1,117) | |||||||||
| Cash generated by investing activities | 17,782 | 1,490 | |||||||||
| Financing activities: | |||||||||||
| Payments for taxes related to net share settlement of equity awards | (5,719) | (5,163) | |||||||||
| Payments for dividends and dividend equivalents | (11,559) | (11,430) | |||||||||
| Repurchases of common stock | (70,579) | (69,866) | |||||||||
| Proceeds from issuance of term debt, net | 4,481 | — | |||||||||
| Repayments of term debt | (9,682) | (7,400) | |||||||||
| Repayments of commercial paper, net | (65) | (2,985) | |||||||||
| Other | (87) | (191) | |||||||||
| Cash used in financing activities | (93,210) | (97,035) | |||||||||
| Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents | 6,326 | (4,102) | |||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents, ending balances | $ | 36,269 | $ | 26,635 | |||||||
| Supplemental cash flow disclosure: | |||||||||||
| Cash paid for income taxes, net | $ | 37,332 | $ | 19,230 | |||||||