aapl_10k

Income Statement

	Years ended
	September 27, 2025		September 28, 2024		September 30, 2023
Net sales:
Products	$	307,003,000,000	$	294,866,000,000	$	298,085,000,000
Services	109,158,000,000		96,169,000,000		85,200,000,000
Total net sales	416,161,000,000		391,035,000,000		383,285,000,000

Cost of sales:
Products	194,116,000,000		185,233,000,000		189,282,000,000
Services	26,844,000,000		25,119,000,000		24,855,000,000
Total cost of sales	220,960,000,000		210,352,000,000		214,137,000,000
Gross margin	195,201,000,000		180,683,000,000		169,148,000,000

Operating expenses:
Research and development	34,550,000,000		31,370,000,000		29,915,000,000
Selling, general and administrative	27,601,000,000		26,097,000,000		24,932,000,000
Total operating expenses	62,151,000,000		57,467,000,000		54,847,000,000

Operating income	133,050,000,000		123,216,000,000		114,301,000,000
Other income/(expense), net	-321,000,000		269,000,000		-565,000,000
Income before provision for income taxes	132,729,000,000		123,485,000,000		113,736,000,000
Provision for income taxes	20,719,000,000		29,749,000,000		16,741,000,000
Net income	$	112,010,000,000	$	93,736,000,000	$	96,995,000,000

Earnings per share:
Basic	$	7.49	$	6.11	$	6.16
Diluted	$	7.46	$	6.08	$	6.13

Shares used in computing earnings per share:
Basic	14,948,500,000		15,343,783,000		15,744,231,000
Diluted	15,004,697,000		15,408,095,000		15,812,547,000

Comprehensive Income

	Years ended
	September 27, 2025		September 28, 2024		September 30, 2023
Net income	$	112,010,000,000	$	93,736,000,000	$	96,995,000,000
Other comprehensive income/(loss):
Change in foreign currency translation, net of tax	-267,000,000		395,000,000		-765,000,000

Change in unrealized gains/losses on derivative instruments, net of tax:
Change in fair value of derivative instruments	849,000,000		-832,000,000		323,000,000
Adjustment for net (gains)/losses realized and included in net income	212,000,000		1,337,000,000		1,717,000,000
Total change in unrealized gains/losses on derivative instruments	637,000,000		-2,169,000,000		-1,394,000,000

Change in unrealized gains/losses on marketable debt securities, net of tax:
Change in fair value of marketable debt securities	817,000,000		5,850,000,000		1,563,000,000
Adjustment for net (gains)/losses realized and included in net income	-414,000,000		-204,000,000		-253,000,000
Total change in unrealized gains/losses on marketable debt securities	1,231,000,000		6,054,000,000		1,816,000,000

Total other comprehensive income/(loss)	1,601,000,000		4,280,000,000		-343,000,000
Total comprehensive income	$	113,611,000,000	$	98,016,000,000	$	96,652,000,000

Balance Sheet

	September 27, 2025		September 28, 2024
ASSETS:
Current assets:
Cash and cash equivalents	$	35,934,000,000	$	29,943,000,000
Marketable securities	18,763,000,000		35,228,000,000
Accounts receivable, net	39,777,000,000		33,410,000,000
Vendor non-trade receivables	33,180,000,000		32,833,000,000
Inventories	5,718,000,000		7,286,000,000
Other current assets	14,585,000,000		14,287,000,000
Total current assets	147,957,000,000		152,987,000,000

Non-current assets:
Marketable securities	77,723,000,000		91,479,000,000
Property, plant and equipment, net	49,834,000,000		45,680,000,000
Other non-current assets	83,727,000,000		74,834,000,000
Total non-current assets	211,284,000,000		211,993,000,000
Total assets	$	359,241,000,000	$	364,980,000,000

LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable	$	69,860,000,000	$	68,960,000,000
Other current liabilities	66,387,000,000		78,304,000,000
Deferred revenue	9,055,000,000		8,249,000,000
Commercial paper	7,979,000,000		9,967,000,000
Term debt	12,350,000,000		10,912,000,000
Total current liabilities	165,631,000,000		176,392,000,000

Non-current liabilities:
Term debt	78,328,000,000		85,750,000,000
Other non-current liabilities	41,549,000,000		45,888,000,000
Total non-current liabilities	119,877,000,000		131,638,000,000
Total liabilities	285,508,000,000		308,030,000,000

Commitments and contingencies

Shareholders’ equity:
Common stock and additional paid-in capital, $ 0.00001 par value: 50,400,000 shares authorized; 14,773,260 and 15,116,786 shares issued and outstanding, respectively	93,568,000,000		83,276,000,000
Accumulated deficit	-14,264,000,000		-19,154,000,000
Accumulated other comprehensive loss	-5,571,000,000		-7,172,000,000
Total shareholders’ equity	73,733,000,000		56,950,000,000
Total liabilities and shareholders’ equity	$	359,241,000,000	$	364,980,000,000

Stockholders Equity

	Years ended
	September 27, 2025		September 28, 2024		September 30, 2023
Total shareholders’ equity, beginning balances	$	56,950,000,000	$	62,146,000,000	$	50,672,000,000

Common stock and additional paid-in capital:
Beginning balances	83,276,000,000		73,812,000,000		64,849,000,000
Common stock issued	1,498,000,000		1,423,000,000		1,346,000,000
Common stock withheld related to net share settlement of equity awards	4,452,000,000		3,993,000,000		3,521,000,000
Share-based compensation	13,246,000,000		12,034,000,000		11,138,000,000
Ending balances	93,568,000,000		83,276,000,000		73,812,000,000

Accumulated deficit:
Beginning balances	-19,154,000,000		-214,000,000		-3,068,000,000
Net income	112,010,000,000		93,736,000,000		96,995,000,000
Dividends and dividend equivalents declared	15,413,000,000		15,218,000,000		14,996,000,000
Common stock withheld related to net share settlement of equity awards	1,655,000,000		1,612,000,000		2,099,000,000
Common stock repurchased	90,052,000,000		95,846,000,000		77,046,000,000
Ending balances	-14,264,000,000		-19,154,000,000		-214,000,000

Accumulated other comprehensive loss:
Beginning balances	-7,172,000,000		-11,452,000,000		-11,109,000,000
Other comprehensive income/(loss)	1,601,000,000		4,280,000,000		-343,000,000
Ending balances	-5,571,000,000		-7,172,000,000		-11,452,000,000

Total shareholders’ equity, ending balances	$	73,733,000,000	$	56,950,000,000	$	62,146,000,000

Dividends and dividend equivalents declared per share or RSU	$	1.02	$	0.98	$	0.94

Cash Flow Statement

	Years ended
	September 27, 2025		September 28, 2024		September 30, 2023
Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances	$	29,943,000,000	$	30,737,000,000	$	24,977,000,000

Operating activities:
Net income	112,010,000,000		93,736,000,000		96,995,000,000
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization	11,698,000,000		11,445,000,000		11,519,000,000
Share-based compensation expense	12,863,000,000		11,688,000,000		10,833,000,000
Other	89,000,000		2,266,000,000		2,227,000,000
Changes in operating assets and liabilities:
Accounts receivable, net	6,682,000,000		3,788,000,000		1,688,000,000
Vendor non-trade receivables	347,000,000		1,356,000,000		-1,271,000,000
Inventories	-1,400,000,000		1,046,000,000		1,618,000,000
Other current and non-current assets	9,197,000,000		11,731,000,000		5,684,000,000
Accounts payable	902,000,000		6,020,000,000		-1,889,000,000
Other current and non-current liabilities	-11,076,000,000		15,552,000,000		3,031,000,000
Cash generated by operating activities	111,482,000,000		118,254,000,000		110,543,000,000

Investing activities:
Purchases of marketable securities	24,407,000,000		48,656,000,000		29,513,000,000
Proceeds from maturities of marketable securities	40,907,000,000		51,211,000,000		39,686,000,000
Proceeds from sales of marketable securities	12,890,000,000		11,135,000,000		5,828,000,000
Payments for acquisition of property, plant and equipment	12,715,000,000		9,447,000,000		10,959,000,000

Other	1,480,000,000		1,308,000,000		1,337,000,000
Cash generated by investing activities	15,195,000,000		2,935,000,000		3,705,000,000

Financing activities:
Payments for taxes related to net share settlement of equity awards	5,960,000,000		5,441,000,000		5,431,000,000
Payments for dividends and dividend equivalents	15,421,000,000		15,234,000,000		15,025,000,000
Repurchases of common stock	90,711,000,000		94,949,000,000		77,550,000,000
Proceeds from issuance of term debt, net	4,481,000,000		—		5,228,000,000
Repayments of term debt	10,932,000,000		9,958,000,000		11,151,000,000
Proceeds from/(Repayments of) commercial paper, net	-2,032,000,000		3,960,000,000		-3,978,000,000
Other	-111,000,000		-361,000,000		-581,000,000
Cash used in financing activities	-120,686,000,000		-121,983,000,000		-108,488,000,000

Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents	5,991,000,000		-794,000,000		5,760,000,000
Cash, cash equivalents, and restricted cash and cash equivalents, ending balances	$	35,934,000,000	$	29,943,000,000	$	30,737,000,000

Supplemental cash flow disclosure:
Cash paid for income taxes, net	$	43,369,000,000	$	26,102,000,000	$	18,679,000,000

Revenue - Disaggregated Net Sales and Portion of Net Sales That Was Previously Deferred (Details)

	2025		2024		2023
iPhone	$	209,586,000,000	$	201,183,000,000	$	200,583,000,000
Mac	33,708,000,000		29,984,000,000		29,357,000,000
iPad	28,023,000,000		26,694,000,000		28,300,000,000
Wearables, Home and Accessories	35,686,000,000		37,005,000,000		39,845,000,000
Services (1)	109,158,000,000		96,169,000,000		85,200,000,000
Total net sales	$	416,161,000,000	$	391,035,000,000	$	383,285,000,000

Portion of total net sales that was included in deferred revenue as of the beginning of the period	$	8,229,000,000	$	7,728,000,000	$	8,169,000,000

Earnings Per Share

	2025		2024		2023
Numerator:
Net income	$	112,010,000,000	$	93,736,000,000	$	96,995,000,000

Denominator:
Weighted-average basic shares outstanding	14,948,500,000		15,343,783,000		15,744,231,000
Effect of dilutive share-based awards	56,197,000		64,312,000		68,316,000
Weighted-average diluted shares	15,004,697,000		15,408,095,000		15,812,547,000

Basic earnings per share	$	7.49	$	6.11	$	6.16
Diluted earnings per share	$	7.46	$	6.08	$	6.13

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details)

	2025
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Current Marketable Securities		Non-Current Marketable Securities
Cash	$	28,267,000,000	$	—	$	—	$	28,267,000,000	$	28,267,000,000	$	—	$	—
Level 1:
Money market funds	5,272,000,000		—		—		5,272,000,000		5,272,000,000		—		—
Mutual funds	679,000,000		177,000,000		2,000,000		854,000,000		—		854,000,000		—
Subtotal	5,951,000,000		177,000,000		2,000,000		6,126,000,000		5,272,000,000		854,000,000		—
Level 2 (1) :
U.S. Treasury securities	16,074,000,000		56,000,000		282,000,000		15,848,000,000		1,190,000,000		3,712,000,000		10,946,000,000
U.S. agency securities	5,269,000,000		—		149,000,000		5,120,000,000		251,000,000		2,456,000,000		2,413,000,000
Non-U.S. government securities	6,586,000,000		111,000,000		424,000,000		6,273,000,000		—		855,000,000		5,418,000,000
Certificates of deposit and time deposits	917,000,000		—		—		917,000,000		904,000,000		—		13,000,000
Commercial paper	100,000,000		—		—		100,000,000		50,000,000		50,000,000		—
Corporate debt securities	47,210,000,000		266,000,000		916,000,000		46,560,000,000		—		10,623,000,000		35,937,000,000
Municipal securities	207,000,000		—		2,000,000		205,000,000		—		119,000,000		86,000,000
Mortgage- and asset-backed securities	24,130,000,000		126,000,000		1,252,000,000		23,004,000,000		—		94,000,000		22,910,000,000
Subtotal	100,493,000,000		559,000,000		3,025,000,000		98,027,000,000		2,395,000,000		17,909,000,000		77,723,000,000
Total	$	134,711,000,000	$	736,000,000	$	3,027,000,000	$	132,420,000,000	$	35,934,000,000	$	18,763,000,000	$	77,723,000,000

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details)

	2024
	Adjusted Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Current Marketable Securities		Non-Current Marketable Securities
Cash	$	27,199,000,000	$	—	$	—	$	27,199,000,000	$	27,199,000,000	$	—	$	—
Level 1:
Money market funds	778,000,000		—		—		778,000,000		778,000,000		—		—
Mutual funds	515,000,000		105,000,000		3,000,000		617,000,000		—		617,000,000		—
Subtotal	1,293,000,000		105,000,000		3,000,000		1,395,000,000		778,000,000		617,000,000		—
Level 2 (1) :
U.S. Treasury securities	16,150,000,000		45,000,000		516,000,000		15,679,000,000		212,000,000		4,087,000,000		11,380,000,000
U.S. agency securities	5,431,000,000		—		272,000,000		5,159,000,000		155,000,000		703,000,000		4,301,000,000
Non-U.S. government securities	17,959,000,000		93,000,000		484,000,000		17,568,000,000		1,158,000,000		10,810,000,000		5,600,000,000
Certificates of deposit and time deposits	873,000,000		—		—		873,000,000		387,000,000		478,000,000		8,000,000
Commercial paper	1,066,000,000		—		—		1,066,000,000		28,000,000		1,038,000,000		—
Corporate debt securities	65,622,000,000		270,000,000		1,953,000,000		63,939,000,000		26,000,000		16,027,000,000		47,886,000,000
Municipal securities	412,000,000		—		7,000,000		405,000,000		—		190,000,000		215,000,000
Mortgage- and asset-backed securities	24,595,000,000		175,000,000		1,403,000,000		23,367,000,000		—		1,278,000,000		22,089,000,000
Subtotal	132,108,000,000		583,000,000		4,635,000,000		128,056,000,000		1,966,000,000		34,611,000,000		91,479,000,000
Total (2)(3)	$	160,600,000,000	$	688,000,000	$	4,638,000,000	$	156,650,000,000	$	29,943,000,000	$	35,228,000,000	$	91,479,000,000

Financial Instruments - Notional Amounts Associated with Derivative Instruments (Details)

	2025		2024
Derivative instruments designated as accounting hedges:
Foreign exchange contracts	$	62,647,000,000	$	64,069,000,000
Interest rate contracts	$	12,875,000,000	$	14,575,000,000

Derivative instruments not designated as accounting hedges:
Foreign exchange contracts	$	109,079,000,000	$	91,493,000,000

Property, Plant and Equipment - Gross Property, Plant and Equipment by Major Asset Class and Accumulated Depreciation (Details)

	2025		2024
Land and buildings	$	27,337,000,000	$	24,690,000,000
Machinery, equipment and internal-use software	83,420,000,000		80,205,000,000
Leasehold improvements	15,091,000,000		14,233,000,000
Gross property, plant and equipment	125,848,000,000		119,128,000,000
Accumulated depreciation	76,014,000,000		73,448,000,000
Total property, plant and equipment, net	$	49,834,000,000	$	45,680,000,000

Consolidated Financial Statement Details - Other Non-Current Assets (Details)

	2025		2024
Deferred tax assets	$	20,777,000,000	$	19,499,000,000
Other non-current assets	62,950,000,000		55,335,000,000
Total other non-current assets	$	83,727,000,000	$	74,834,000,000

Consolidated Financial Statement Details - Other Current Liabilities (Details)

	2025		2024
Income taxes payable	$	13,016,000,000	$	26,601,000,000
Accrued distribution and marketing	8,919,000,000		7,679,000,000
Other current liabilities	44,452,000,000		44,024,000,000
Total other current liabilities	$	66,387,000,000	$	78,304,000,000

Income Taxes - Provision for Income Taxes (Details)

	2025		2024		2023
Federal:
Current	$	11,487,000,000	$	5,571,000,000	$	9,445,000,000
Deferred	-1,804,000,000		-3,080,000,000		-3,644,000,000
Total	9,683,000,000		2,491,000,000		5,801,000,000
State:
Current	1,680,000,000		1,726,000,000		1,570,000,000
Deferred	-139,000,000		-298,000,000		-49,000,000
Total	1,541,000,000		1,428,000,000		1,521,000,000
Foreign:
Current	8,891,000,000		25,483,000,000		8,750,000,000
Deferred	604,000,000		347,000,000		669,000,000
Total	9,495,000,000		25,830,000,000		9,419,000,000
Provision for income taxes	$	20,719,000,000	$	29,749,000,000	$	16,741,000,000

Income Taxes - Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Provision for Income Taxes (Details)

	2025			2024			2023
Computed expected tax	$	27,873,000,000		$	25,932,000,000		$	23,885,000,000
Earnings of foreign subsidiaries	-8,120,000,000			-5,311,000,000			-5,744,000,000
Change in valuation allowance	2,091,000,000			—			—
Research and development credit, net	1,049,000,000			1,397,000,000			1,212,000,000
Impact of the State Aid Decision	-486,000,000			10,246,000,000			—
Other	410,000,000			279,000,000			-188,000,000
Provision for income taxes	$	20,719,000,000		$	29,749,000,000		$	16,741,000,000
Effective tax rate	15.60		%	24.10		%	14.70		%

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details)

	2025		2024
Deferred tax assets:
Capitalized research and development	$	15,041,000,000	$	10,739,000,000
Tax credit carryforwards	8,643,000,000		8,856,000,000
Accrued liabilities and other reserves	6,154,000,000		6,114,000,000
Deferred revenue	2,953,000,000		3,413,000,000
Lease liabilities	2,577,000,000		2,410,000,000
Other	3,049,000,000		3,341,000,000
Total deferred tax assets	38,417,000,000		34,873,000,000
Less: Valuation allowance	10,966,000,000		8,866,000,000
Total deferred tax assets, net	27,451,000,000		26,007,000,000
Deferred tax liabilities:
Depreciation	3,276,000,000		2,551,000,000
Right-of-use assets	2,300,000,000		2,125,000,000
Minimum tax on foreign earnings	1,217,000,000		1,674,000,000
Other	678,000,000		455,000,000
Total deferred tax liabilities	7,471,000,000		6,805,000,000
Net deferred tax assets	$	19,980,000,000	$	19,202,000,000

Income Taxes - Aggregate Changes in Gross Unrecognized Tax Benefits (Details)

	2025		2024		2023
Beginning balances	$	22,038,000,000	$	19,454,000,000	$	16,758,000,000
Increases related to tax positions taken during a prior year	1,971,000,000		1,727,000,000		2,044,000,000
Decreases related to tax positions taken during a prior year	71,000,000		386,000,000		1,463,000,000
Increases related to tax positions taken during the current year	3,795,000,000		2,542,000,000		2,628,000,000
Decreases related to settlements with taxing authorities	2,939,000,000		1,070,000,000		19,000,000
Decreases related to expiration of the statute of limitations	1,552,000,000		229,000,000		494,000,000
Ending balances	$	23,242,000,000	$	22,038,000,000	$	19,454,000,000

Leases - ROU Assets and Lease Liabilities (Details)

Lease-Related Assets and Liabilities	Financial Statement Line Items	2025		2024
Right-of-use assets:
Operating leases	Other non-current assets	$	11,205,000,000	$	10,234,000,000
Finance leases	Property, plant and equipment, net	1,033,000,000		1,069,000,000
Total right-of-use assets		$	12,238,000,000	$	11,303,000,000

Lease liabilities:
Operating leases	Other current liabilities	$	1,579,000,000	$	1,488,000,000
	Other non-current liabilities	10,911,000,000		10,046,000,000
Finance leases	Other current liabilities	538,000,000		144,000,000
	Other non-current liabilities	692,000,000		752,000,000
Total lease liabilities		$	13,720,000,000	$	12,430,000,000

Leases - Lease Liability Maturities (Details)

	Operating Leases		Finance Leases		Total
2026	$	1,967,000,000	$	563,000,000	$	2,530,000,000
2027	1,988,000,000		73,000,000		2,061,000,000
2028	1,848,000,000		51,000,000		1,899,000,000
2029	1,585,000,000		48,000,000		1,633,000,000
2030	1,381,000,000		43,000,000		1,424,000,000
Thereafter	5,956,000,000		801,000,000		6,757,000,000
Total undiscounted liabilities	14,725,000,000		1,579,000,000		16,304,000,000
Less: Imputed interest	2,235,000,000		349,000,000		2,584,000,000
Total lease liabilities	$	12,490,000,000	$	1,230,000,000	$	13,720,000,000

Debt - Summary of Cash Flows Associated with Commercial Paper (Details)

	2025		2024		2023
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net	$	-5,820,000,000	$	3,960,000,000	$	-1,333,000,000

Maturities greater than 90 days:
Proceeds from commercial paper	5,836,000,000		—		—
Repayments of commercial paper	2,048,000,000		—		2,645,000,000
Proceeds from/(Repayments of) commercial paper, net	3,788,000,000		—		-2,645,000,000

Total proceeds from/(repayments of) commercial paper, net	$	-2,032,000,000	$	3,960,000,000	$	-3,978,000,000

Debt - Summary of Term Debt (Details)

	Maturities (calendar year)	2025			2024
		Amount (in millions)		Effective Interest Rate	Amount (in millions)		Effective Interest Rate
2013 – 2023 debt issuances:
Fixed-rate 0.000 % – 4.850 % notes	2025 – 2062	$	86,781,000,000	0.03 % – 5.75 %	$	97,341,000,000	0.03 % – 6.65 %

2025 debt issuance:
Fixed-rate 4.000 % – 4.750 % notes	2028 – 2035	4,500,000,000		4.07 % – 4.83 %	—
Total term debt principal		91,281,000,000			97,341,000,000

Unamortized premium/(discount) and issuance costs, net		309,000,000			321,000,000
Hedge accounting fair value adjustments		294,000,000			358,000,000
Total term debt		90,678,000,000			96,662,000,000
Less: Current portion of term debt		12,350,000,000			10,912,000,000
Total non-current portion of term debt		$	78,328,000,000		$	85,750,000,000

Debt - Future Principal Payments for Term Debt (Details)

2026	$	12,393,000,000
2027	10,078,000,000
2028	9,300,000,000
2029	5,235,000,000
2030	4,972,000,000
Thereafter	49,303,000,000
Total term debt principal	$	91,281,000,000

Shareholders' Equity - Shares of Common Stock (Details)

	2025	2024	2023
Common stock outstanding, beginning balances	15,116,786,000	15,550,061,000	15,943,425,000
Common stock repurchased	401,672,000	499,372,000	471,419,000
Common stock issued, net of shares withheld for employee taxes	58,146,000	66,097,000	78,055,000
Common stock outstanding, ending balances	14,773,260,000	15,116,786,000	15,550,061,000

Share-Based Compensation - Restricted Stock Unit Activity and Related Information (Details)

	Number of RSUs (in thousands)	Weighted-Average Grant-Date Fair Value Per RSU
Balance as of September 28, 2024	163,326,000	$	158.73
RSUs granted	73,466,000	$	226.68
RSUs vested	76,845,000	$	159.85
RSUs forfeited	8,373,000	$	183.03
Balance as of September 27, 2025	151,574,000	$	189.75

Share-Based Compensation - Summary of Share-Based Compensation Expense and the Related Income Tax Benefit (Details)

	2025		2024		2023
Share-based compensation expense	$	12,863,000,000	$	11,688,000,000	$	10,833,000,000
Income tax benefit related to share-based compensation expense	$	3,602,000,000	$	3,350,000,000	$	3,421,000,000

Commitments, Contingencies and Supply Concentrations - Future Payments Under Unconditional Purchase Obligations (Details)

2026	$	4,752,000,000
2027	3,708,000,000
2028	1,981,000,000
2029	1,306,000,000
2030	788,000,000
Thereafter	773,000,000
Total	$	13,308,000,000

Segment Information and Geographic Data - Information by Reportable Segment (Details)

	2025
	Americas		Europe		Greater China		Japan		Rest of Asia Pacific		Corporate		Total
Net sales	$	178,353,000,000	$	111,032,000,000	$	64,377,000,000	$	28,703,000,000	$	33,696,000,000	$	—	$	416,161,000,000
Cost of sales	95,699,000,000		58,617,000,000		35,141,000,000		13,779,000,000		17,724,000,000		—		220,960,000,000
Research and development	—		—		—		—		—		34,550,000,000		34,550,000,000
Selling and marketing	10,174,000,000		4,676,000,000		2,319,000,000		969,000,000		1,386,000,000		—		19,524,000,000
General and administrative	—		—		—		—		—		8,077,000,000		8,077,000,000
Operating income/(loss)	$	72,480,000,000	$	47,739,000,000	$	26,917,000,000	$	13,955,000,000	$	14,586,000,000	$	-42,627,000,000	$	133,050,000,000

Segment Information and Geographic Data - Information by Reportable Segment (Details)

	2024
	Americas		Europe		Greater China		Japan		Rest of Asia Pacific		Corporate		Total
Net sales	$	167,045,000,000	$	101,328,000,000	$	66,952,000,000	$	25,052,000,000	$	30,658,000,000	$	—	$	391,035,000,000
Cost of sales	89,587,000,000		55,197,000,000		37,519,000,000		11,744,000,000		16,305,000,000		—		210,352,000,000
Research and development	—		—		—		—		—		31,370,000,000		31,370,000,000
Selling and marketing	9,802,000,000		4,341,000,000		2,351,000,000		854,000,000		1,291,000,000		—		18,639,000,000
General and administrative	—		—		—		—		—		7,458,000,000		7,458,000,000
Operating income/(loss)	$	67,656,000,000	$	41,790,000,000	$	27,082,000,000	$	12,454,000,000	$	13,062,000,000	$	-38,828,000,000	$	123,216,000,000

Segment Information and Geographic Data - Information by Reportable Segment (Details)

	2023
	Americas		Europe		Greater China		Japan		Rest of Asia Pacific		Corporate		Total
Net sales	$	162,560,000,000	$	94,294,000,000	$	72,559,000,000	$	24,257,000,000	$	29,615,000,000	$	—	$	383,285,000,000
Cost of sales	92,394,000,000		54,101,000,000		39,787,000,000		11,542,000,000		16,313,000,000		—		214,137,000,000
Research and development	—		—		—		—		—		29,915,000,000		29,915,000,000
Selling and marketing	9,658,000,000		4,095,000,000		2,444,000,000		827,000,000		1,236,000,000		—		18,260,000,000
General and administrative	—		—		—		—		—		6,672,000,000		6,672,000,000
Operating income/(loss)	$	60,508,000,000	$	36,098,000,000	$	30,328,000,000	$	11,888,000,000	$	12,066,000,000	$	-36,587,000,000	$	114,301,000,000

Segment Information and Geographic Data - Net Sales for Countries that Individually Accounted for More than 10% of the Total (Details)

	2025		2024		2023
Net sales:
U.S.	$	151,790,000,000	$	142,196,000,000	$	138,573,000,000
China (1)	64,377,000,000		66,952,000,000		72,559,000,000
Other countries	199,994,000,000		181,887,000,000		172,153,000,000
Total net sales	$	416,161,000,000	$	391,035,000,000	$	383,285,000,000

Segment Information and Geographic Data - Long-Lived Assets for Countries that Individually Accounted for More than 10% of the Total (Details)

	2025		2024
Long-lived assets:
U.S.	$	40,274,000,000	$	35,664,000,000
China (1)	3,617,000,000		4,797,000,000
Other countries	5,943,000,000		5,219,000,000
Total long-lived assets	$	49,834,000,000	$	45,680,000,000

Table

Incorporated by Reference

Exhibit Number

Exhibit Description

Form

Exhibit

Filing Date/ Period End Date

4.26

Indenture, dated as of October 28, 2021, between the Registrant and The Bank of New York Mellon Trust Company, N.A., as Trustee.

S-3

4.10

10/29/21

4.27

Officer’s Certificate of the Registrant, dated as of August 8, 2022, including forms of global notes representing the 3.250% Notes due 2029, 3.350% Notes due 2032, 3.950% Notes due 2052 and 4.100% Notes due 2062.

8-K

4.10

8/8/22

4.28

Officer’s Certificate of the Registrant, dated as of May 10, 2023, including forms of global notes representing the 4.421% Notes due 2026, 4.000% Notes due 2028, 4.150% Notes due 2030, 4.300% Notes due 2033 and 4.850% Notes due 2053.

8-K

4.10

5/10/23

4.29

Officer’s Certificate of the Registrant, dated as of May 12, 2025, including forms of global notes representing the 4.000% Notes due 2028, 4.200% Notes due 2030, 4.500% Notes due 2032 and 4.750% Notes due 2035.

8-K

4.10

5/12/25

4.30*

Apple Inc. Deferred Compensation Plan.

S-8

4.10

8/23/18

10.1*

Apple Inc. Employee Stock Purchase Plan, as amended as of Novem ber 6, 2024 .

10-Q

10.10

12/28/24

10.2*

Form of Indemnification Agreement between the Registrant and each director and executive officer of the Registrant.

10-Q

10.20

6/27/09

10.3*

Apple Inc. Non-Employee Director Stock Plan, as amended November 6 , 2024 .

10-Q

10.20

12/28/24

10.4*

Apple Inc. 2014 Employee Stock Plan, as amended and restated as of October 1, 2017.

10-K

10.80

9/30/17

10.5*

Form of Restricted Stock Unit Award Agreement under 2014 Employee Stock Plan effective as of August 18, 2020.

10-K

10.16

9/26/20

10.6*

Apple Inc. 2022 Employee Stock Plan.

8-K

10.10

3/4/22

10.7*

Form of Restricted Stock Unit Award Agreement under 2022 Employee Stock Plan effective as of March 4, 2022.

8-K

10.20

3/4/22

10.8*

Form of Performance Award Agreement under 2022 Employee Stock Plan effective as of March 4, 2022.

8-K

10.30

3/4/22

10.9*

Apple Inc. Executive Cash Incentive Plan.

8-K

10.10

8/19/22

10.10*

Form of CEO Restricted Stock Unit Award Agreement under 2022 Employee Stock Plan effective as of September 25, 2022.

10-Q

10.10

12/31/22

10.11*

Form of CEO Performance Award Agreement under 2022 Employee Stock Plan effective as of September 25, 2022.

10-Q

10.20

12/31/22

10.12*

Form of Restricted Stock Unit Award Agreement under 2022 Employee Stock Plan effective as of September 29, 2024.

10-K

10.19

9/28/24

10.13*

Form of Performance Award Agreement under 2022 Employee Stock Plan effective as of September 29, 2024.

10-K

10.20

9/28/24

10.14*

Form of CEO Restricted Stock Unit Award Agreement under 2022 Employee Stock Plan effective as of September 29, 2024.

10-K

10.21

9/28/24

10.15*

Form of CEO Performance Award Agreement under 2022 Employee Stock Plan effective as of September 29, 2024.

10-K

10.22

9/28/24

19.10

Insider Trading Policy.

10-K

19.10

9/28/24

21.1**

Subsidiaries of the Registrant.

23.1**

Consent of Independent Registered Public Accounting Firm.

24.1**

Power of Attorney (included on the Signatures page of this Annual Report on Form 10-K).

31.1**

Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer.

31.2**

Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer.

32.1***

Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer.

97.1*

Rule 10D-1 Recovery Policy

10-K

97.10

9/28/24