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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Apple Inc | NASDAQ:AAPL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.58 | 0.87% | 183.29 | 183.11 | 183.13 | 76,691 | 10:05:26 |
California | 94-2404110 | |||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||
One Apple Park Way | ||||||||
Cupertino, California | 95014 | |||||||
(Address of principal executive offices) | (Zip Code) |
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 | ||||||
1.000% Notes due 2022 | — | The Nasdaq Stock Market LLC | ||||||
1.375% Notes due 2024 | — | The Nasdaq Stock Market LLC | ||||||
0.000% Notes due 2025 | — | The Nasdaq Stock Market LLC | ||||||
0.875% 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 |
Large accelerated filer | ☒ | Accelerated filer | ☐ | |||||||||||||||||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||||||||||||||||
Emerging growth company | ☐ |
Page | ||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Net sales: | |||||||||||||||||||||||
Products | $ | 63,355 | $ | 63,948 | $ | 245,241 | $ | 232,309 | |||||||||||||||
Services | 19,604 | 17,486 | 58,941 | 50,148 | |||||||||||||||||||
Total net sales | 82,959 | 81,434 | 304,182 | 282,457 | |||||||||||||||||||
Cost of sales: | |||||||||||||||||||||||
Products | 41,485 | 40,899 | 155,084 | 149,476 | |||||||||||||||||||
Services | 5,589 | 5,280 | 16,411 | 15,319 | |||||||||||||||||||
Total cost of sales | 47,074 | 46,179 | 171,495 | 164,795 | |||||||||||||||||||
Gross margin | 35,885 | 35,255 | 132,687 | 117,662 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Research and development | 6,797 | 5,717 | 19,490 | 16,142 | |||||||||||||||||||
Selling, general and administrative | 6,012 | 5,412 | 18,654 | 16,357 | |||||||||||||||||||
Total operating expenses | 12,809 | 11,129 | 38,144 | 32,499 | |||||||||||||||||||
Operating income | 23,076 | 24,126 | 94,543 | 85,163 | |||||||||||||||||||
Other income/(expense), net | (10) | 243 | (97) | 796 | |||||||||||||||||||
Income before provision for income taxes | 23,066 | 24,369 | 94,446 | 85,959 | |||||||||||||||||||
Provision for income taxes | 3,624 | 2,625 | 15,364 | 11,830 | |||||||||||||||||||
Net income | $ | 19,442 | $ | 21,744 | $ | 79,082 | $ | 74,129 | |||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | 1.20 | $ | 1.31 | $ | 4.86 | $ | 4.42 | |||||||||||||||
Diluted | $ | 1.20 | $ | 1.30 | $ | 4.82 | $ | 4.38 | |||||||||||||||
Shares used in computing earnings per share: | |||||||||||||||||||||||
Basic | 16,162,945 | 16,629,371 | 16,277,824 | 16,772,656 | |||||||||||||||||||
Diluted | 16,262,203 | 16,781,735 | 16,394,937 | 16,941,527 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Net income | $ | 19,442 | $ | 21,744 | $ | 79,082 | $ | 74,129 | |||||||||||||||
Other comprehensive income/(loss): | |||||||||||||||||||||||
Change in foreign currency translation, net of tax | (721) | 188 | (1,102) | 659 | |||||||||||||||||||
Change in unrealized gains/losses on derivative instruments, net of tax: | |||||||||||||||||||||||
Change in fair value of derivative instruments | 852 | (24) | 1,548 | 4 | |||||||||||||||||||
Adjustment for net (gains)/losses realized and included in net income | 121 | 17 | (87) | 593 | |||||||||||||||||||
Total change in unrealized gains/losses on derivative instruments | 973 | (7) | 1,461 | 597 | |||||||||||||||||||
Change in unrealized gains/losses on marketable debt securities, net of tax: | |||||||||||||||||||||||
Change in fair value of marketable debt securities | (3,150) | 217 | (9,959) | (558) | |||||||||||||||||||
Adjustment for net (gains)/losses realized and included in net income | 95 | (54) | 140 | (234) | |||||||||||||||||||
Total change in unrealized gains/losses on marketable debt securities | (3,055) | 163 | (9,819) | (792) | |||||||||||||||||||
Total other comprehensive income/(loss) | (2,803) | 344 | (9,460) | 464 | |||||||||||||||||||
Total comprehensive income | $ | 16,639 | $ | 22,088 | $ | 69,622 | $ | 74,593 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Total shareholders’ equity, beginning balances | $ | 67,399 | $ | 69,178 | $ | 63,090 | $ | 65,339 | |||||||||||||||
Common stock and additional paid-in capital: | |||||||||||||||||||||||
Beginning balances | 61,181 | 54,203 | 57,365 | 50,779 | |||||||||||||||||||
Common stock issued | — | — | 593 | 561 | |||||||||||||||||||
Common stock withheld related to net share settlement of equity awards | (1,371) | (1,224) | (2,783) | (2,460) | |||||||||||||||||||
Share-based compensation | 2,305 | 2,010 | 6,940 | 6,109 | |||||||||||||||||||
Ending balances | 62,115 | 54,989 | 62,115 | 54,989 | |||||||||||||||||||
Retained earnings: | |||||||||||||||||||||||
Beginning balances | 12,712 | 15,261 | 5,562 | 14,966 | |||||||||||||||||||
Net income | 19,442 | 21,744 | 79,082 | 74,129 | |||||||||||||||||||
Dividends and dividend equivalents declared | (3,760) | (3,713) | (11,058) | (10,755) | |||||||||||||||||||
Common stock withheld related to net share settlement of equity awards | (1,403) | (1,559) | (3,323) | (3,606) | |||||||||||||||||||
Common stock repurchased | (21,702) | (22,500) | (64,974) | (65,501) | |||||||||||||||||||
Ending balances | 5,289 | 9,233 | 5,289 | 9,233 | |||||||||||||||||||
Accumulated other comprehensive income/(loss): | |||||||||||||||||||||||
Beginning balances | (6,494) | (286) | 163 | (406) | |||||||||||||||||||
Other comprehensive income/(loss) | (2,803) | 344 | (9,460) | 464 | |||||||||||||||||||
Ending balances | (9,297) | 58 | (9,297) | 58 | |||||||||||||||||||
Total shareholders’ equity, ending balances | $ | 58,107 | $ | 64,280 | $ | 58,107 | $ | 64,280 | |||||||||||||||
Dividends and dividend equivalents declared per share or RSU | $ | 0.23 | $ | 0.22 | $ | 0.67 | $ | 0.63 |
Nine Months Ended | |||||||||||
June 25, 2022 | June 26, 2021 | ||||||||||
Cash, cash equivalents and restricted cash, beginning balances | $ | 35,929 | $ | 39,789 | |||||||
Operating activities: | |||||||||||
Net income | 79,082 | 74,129 | |||||||||
Adjustments to reconcile net income to cash generated by operating activities: | |||||||||||
Depreciation and amortization | 8,239 | 8,295 | |||||||||
Share-based compensation expense | 6,760 | 5,961 | |||||||||
Deferred income tax expense/(benefit) | 2,756 | (737) | |||||||||
Other | (61) | (689) | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable, net | 4,561 | (1,316) | |||||||||
Inventories | 1,049 | (1,213) | |||||||||
Vendor non-trade receivables | 4,789 | 4,892 | |||||||||
Other current and non-current assets | (3,289) | (5,899) | |||||||||
Accounts payable | (6,108) | (1,786) | |||||||||
Deferred revenue | 260 | 1,738 | |||||||||
Other current and non-current liabilities | (14) | 463 | |||||||||
Cash generated by operating activities | 98,024 | 83,838 | |||||||||
Investing activities: | |||||||||||
Purchases of marketable securities | (70,178) | (94,052) | |||||||||
Proceeds from maturities of marketable securities | 24,203 | 49,880 | |||||||||
Proceeds from sales of marketable securities | 33,609 | 36,745 | |||||||||
Payments for acquisition of property, plant and equipment | (7,419) | (7,862) | |||||||||
Payments made in connection with business acquisitions, net | (169) | (13) | |||||||||
Other | (1,183) | (78) | |||||||||
Cash used in investing activities | (21,137) | (15,380) | |||||||||
Financing activities: | |||||||||||
Payments for taxes related to net share settlement of equity awards | (5,915) | (5,855) | |||||||||
Payments for dividends and dividend equivalents | (11,138) | (10,827) | |||||||||
Repurchases of common stock | (64,974) | (66,223) | |||||||||
Proceeds from issuance of term debt, net | — | 13,923 | |||||||||
Repayments of term debt | (6,750) | (7,500) | |||||||||
Proceeds from commercial paper, net | 4,970 | 3,022 | |||||||||
Other | (148) | 489 | |||||||||
Cash used in financing activities | (83,955) | (72,971) | |||||||||
Decrease in cash, cash equivalents and restricted cash | (7,068) | (4,513) | |||||||||
Cash, cash equivalents and restricted cash, ending balances | $ | 28,861 | $ | 35,276 | |||||||
Supplemental cash flow disclosure: | |||||||||||
Cash paid for income taxes, net | $ | 12,251 | $ | 18,536 | |||||||
Cash paid for interest | $ | 1,910 | $ | 1,870 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Numerator: | |||||||||||||||||||||||
Net income | $ | 19,442 | $ | 21,744 | $ | 79,082 | $ | 74,129 | |||||||||||||||
Denominator: | |||||||||||||||||||||||
Weighted-average basic shares outstanding | 16,162,945 | 16,629,371 | 16,277,824 | 16,772,656 | |||||||||||||||||||
Effect of dilutive securities | 99,258 | 152,364 | 117,113 | 168,871 | |||||||||||||||||||
Weighted-average diluted shares | 16,262,203 | 16,781,735 | 16,394,937 | 16,941,527 | |||||||||||||||||||
Basic earnings per share | $ | 1.20 | $ | 1.31 | $ | 4.86 | $ | 4.42 | |||||||||||||||
Diluted earnings per share | $ | 1.20 | $ | 1.30 | $ | 4.82 | $ | 4.38 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
iPhone® (1) | $ | 40,665 | $ | 39,570 | $ | 162,863 | $ | 153,105 | |||||||||||||||
Mac® (1) | 7,382 | 8,235 | 28,669 | 26,012 | |||||||||||||||||||
iPad® (1) | 7,224 | 7,368 | 22,118 | 23,610 | |||||||||||||||||||
Wearables, Home and Accessories (1)(2) | 8,084 | 8,775 | 31,591 | 29,582 | |||||||||||||||||||
Services (3) | 19,604 | 17,486 | 58,941 | 50,148 | |||||||||||||||||||
Total net sales (4) | $ | 82,959 | $ | 81,434 | $ | 304,182 | $ | 282,457 |
June 25, 2022 | |||||||||||||||||||||||||||||||||||||||||
Adjusted Cost | Unrealized Gains | Unrealized Losses | Fair Value | Cash and Cash Equivalents | Current Marketable Securities | Non-Current Marketable Securities | |||||||||||||||||||||||||||||||||||
Cash | $ | 12,852 | $ | — | $ | — | $ | 12,852 | $ | 12,852 | $ | — | $ | — | |||||||||||||||||||||||||||
Level 1 (1): | |||||||||||||||||||||||||||||||||||||||||
Money market funds | 10,970 | — | — | 10,970 | 10,970 | — | — | ||||||||||||||||||||||||||||||||||
Mutual funds | 252 | — | (32) | 220 | — | 220 | — | ||||||||||||||||||||||||||||||||||
Subtotal | 11,222 | — | (32) | 11,190 | 10,970 | 220 | — | ||||||||||||||||||||||||||||||||||
Level 2 (2): | |||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | 25,296 | — | (1,328) | 23,968 | 91 | 3,511 | 20,366 | ||||||||||||||||||||||||||||||||||
U.S. agency securities | 5,805 | — | (511) | 5,294 | 4 | 240 | 5,050 | ||||||||||||||||||||||||||||||||||
Non-U.S. government securities | 17,597 | 6 | (1,023) | 16,580 | — | 6,336 | 10,244 | ||||||||||||||||||||||||||||||||||
Certificates of deposit and time deposits | 3,928 | — | — | 3,928 | 3,374 | 504 | 50 | ||||||||||||||||||||||||||||||||||
Commercial paper | 966 | — | — | 966 | 209 | 757 | — | ||||||||||||||||||||||||||||||||||
Corporate debt securities | 88,912 | 15 | (6,455) | 82,472 | 2 | 8,738 | 73,732 | ||||||||||||||||||||||||||||||||||
Municipal securities | 978 | — | (26) | 952 | — | 203 | 749 | ||||||||||||||||||||||||||||||||||
Mortgage- and asset-backed securities | 23,058 | — | (1,952) | 21,106 | — | 220 | 20,886 | ||||||||||||||||||||||||||||||||||
Subtotal | 166,540 | 21 | (11,295) | 155,266 | 3,680 | 20,509 | 131,077 | ||||||||||||||||||||||||||||||||||
Total (3) | $ | 190,614 | $ | 21 | $ | (11,327) | $ | 179,308 | $ | 27,502 | $ | 20,729 | $ | 131,077 | |||||||||||||||||||||||||||
September 25, 2021 | |||||||||||||||||||||||||||||||||||||||||
Adjusted Cost | Unrealized Gains | Unrealized Losses | Fair Value | Cash and Cash Equivalents | Current Marketable Securities | Non-Current Marketable Securities | |||||||||||||||||||||||||||||||||||
Cash | $ | 17,305 | $ | — | $ | — | $ | 17,305 | $ | 17,305 | $ | — | $ | — | |||||||||||||||||||||||||||
Level 1 (1): | |||||||||||||||||||||||||||||||||||||||||
Money market funds | 9,608 | — | — | 9,608 | 9,608 | — | — | ||||||||||||||||||||||||||||||||||
Mutual funds | 175 | 11 | (1) | 185 | — | 185 | — | ||||||||||||||||||||||||||||||||||
Subtotal | 9,783 | 11 | (1) | 9,793 | 9,608 | 185 | — | ||||||||||||||||||||||||||||||||||
Level 2 (2): | |||||||||||||||||||||||||||||||||||||||||
Equity securities | 1,527 | — | (564) | 963 | — | 963 | — | ||||||||||||||||||||||||||||||||||
U.S. Treasury securities | 22,878 | 102 | (77) | 22,903 | 3,596 | 6,625 | 12,682 | ||||||||||||||||||||||||||||||||||
U.S. agency securities | 8,949 | 2 | (64) | 8,887 | 1,775 | 1,930 | 5,182 | ||||||||||||||||||||||||||||||||||
Non-U.S. government securities | 20,201 | 211 | (101) | 20,311 | 390 | 3,091 | 16,830 | ||||||||||||||||||||||||||||||||||
Certificates of deposit and time deposits | 1,300 | — | — | 1,300 | 490 | 810 | — | ||||||||||||||||||||||||||||||||||
Commercial paper | 2,639 | — | — | 2,639 | 1,776 | 863 | — | ||||||||||||||||||||||||||||||||||
Corporate debt securities | 83,883 | 1,242 | (267) | 84,858 | — | 12,327 | 72,531 | ||||||||||||||||||||||||||||||||||
Municipal securities | 967 | 14 | — | 981 | — | 130 | 851 | ||||||||||||||||||||||||||||||||||
Mortgage- and asset-backed securities | 20,529 | 171 | (124) | 20,576 | — | 775 | 19,801 | ||||||||||||||||||||||||||||||||||
Subtotal | 162,873 | 1,742 | (1,197) | 163,418 | 8,027 | 27,514 | 127,877 | ||||||||||||||||||||||||||||||||||
Total (3) | $ | 189,961 | $ | 1,753 | $ | (1,198) | $ | 190,516 | $ | 34,940 | $ | 27,699 | $ | 127,877 |
Due after 1 year through 5 years | $ | 92,970 | |||
Due after 5 years through 10 years | 19,317 | ||||
Due after 10 years | 18,790 | ||||
Total fair value | $ | 131,077 |
June 25, 2022 | September 25, 2021 | ||||||||||
Derivative instruments designated as accounting hedges: | |||||||||||
Foreign exchange contracts | $ | 76,234 | $ | 76,475 | |||||||
Interest rate contracts | $ | 20,775 | $ | 16,875 | |||||||
Derivative instruments not designated as accounting hedges: | |||||||||||
Foreign exchange contracts | $ | 84,506 | $ | 126,918 |
June 25, 2022 | September 25, 2021 | ||||||||||
Hedged assets/(liabilities): | |||||||||||
Current and non-current marketable securities | $ | 14,250 | $ | 15,954 | |||||||
Current and non-current term debt | $ | (19,281) | $ | (17,857) |
June 25, 2022 | September 25, 2021 | ||||||||||
Gross property, plant and equipment | $ | 111,851 | $ | 109,723 | |||||||
Accumulated depreciation and amortization | (71,516) | (70,283) | |||||||||
Total property, plant and equipment, net | $ | 40,335 | $ | 39,440 |
June 25, 2022 | September 25, 2021 | ||||||||||
Long-term taxes payable | $ | 20,699 | $ | 24,689 | |||||||
Other non-current liabilities | 32,930 | 28,636 | |||||||||
Total other non-current liabilities | $ | 53,629 | $ | 53,325 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Interest and dividend income | $ | 722 | $ | 719 | $ | 2,072 | $ | 2,184 | |||||||||||||||
Interest expense | (719) | (665) | (2,104) | (1,973) | |||||||||||||||||||
Other income/(expense), net | (13) | 189 | (65) | 585 | |||||||||||||||||||
Total other income/(expense), net | $ | (10) | $ | 243 | $ | (97) | $ | 796 |
Nine Months Ended | |||||||||||
June 25, 2022 | June 26, 2021 | ||||||||||
Maturities 90 days or less: | |||||||||||
Proceeds from commercial paper, net | $ | 4,383 | $ | 2,745 | |||||||
Maturities greater than 90 days: | |||||||||||
Proceeds from commercial paper | 5,731 | 3,993 | |||||||||
Repayments of commercial paper | (5,144) | (3,716) | |||||||||
Proceeds from commercial paper, net | 587 | 277 | |||||||||
Total proceeds from commercial paper, net | $ | 4,970 | $ | 3,022 |
Number of RSUs (in thousands) | Weighted-Average Grant Date Fair Value Per RSU | Aggregate Fair Value (in millions) | |||||||||||||||
Balance as of September 25, 2021 | 240,427 | $ | 75.16 | ||||||||||||||
RSUs granted | 84,927 | $ | 150.02 | ||||||||||||||
RSUs vested | (109,846) | $ | 70.96 | ||||||||||||||
RSUs canceled | (12,986) | $ | 98.26 | ||||||||||||||
Balance as of June 25, 2022 | 202,522 | $ | 107.35 | $ | 28,689 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Share-based compensation expense | $ | 2,243 | $ | 1,960 | $ | 6,760 | $ | 5,961 | |||||||||||||||
Income tax benefit related to share-based compensation expense | $ | (1,231) | $ | (1,319) | $ | (3,416) | $ | (3,518) |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Beginning accrued warranty and related costs | $ | 3,206 | $ | 3,784 | $ | 3,364 | $ | 3,354 | |||||||||||||||
Cost of warranty claims | (534) | (636) | (1,787) | (2,008) | |||||||||||||||||||
Accruals for product warranty | 177 | 384 | 1,272 | 2,186 | |||||||||||||||||||
Ending accrued warranty and related costs | $ | 2,849 | $ | 3,532 | $ | 2,849 | $ | 3,532 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Americas: | |||||||||||||||||||||||
Net sales | $ | 37,472 | $ | 35,870 | $ | 129,850 | $ | 116,486 | |||||||||||||||
Operating income | $ | 13,914 | $ | 12,916 | $ | 48,778 | $ | 40,751 | |||||||||||||||
Europe: | |||||||||||||||||||||||
Net sales | $ | 19,287 | $ | 18,943 | $ | 72,323 | $ | 68,513 | |||||||||||||||
Operating income | $ | 7,124 | $ | 7,085 | $ | 27,174 | $ | 24,939 | |||||||||||||||
Greater China: | |||||||||||||||||||||||
Net sales | $ | 14,604 | $ | 14,762 | $ | 58,730 | $ | 53,803 | |||||||||||||||
Operating income | $ | 5,760 | $ | 6,303 | $ | 25,055 | $ | 22,591 | |||||||||||||||
Japan: | |||||||||||||||||||||||
Net sales | $ | 5,446 | $ | 6,464 | $ | 20,277 | $ | 22,491 | |||||||||||||||
Operating income | $ | 2,418 | $ | 3,031 | $ | 9,263 | $ | 9,962 | |||||||||||||||
Rest of Asia Pacific: | |||||||||||||||||||||||
Net sales | $ | 6,150 | $ | 5,395 | $ | 23,002 | $ | 21,164 | |||||||||||||||
Operating income | $ | 2,367 | $ | 2,116 | $ | 9,185 | $ | 7,805 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Segment operating income | $ | 31,583 | $ | 31,451 | $ | 119,455 | $ | 106,048 | |||||||||||||||
Research and development expense | (6,797) | (5,717) | (19,490) | (16,142) | |||||||||||||||||||
Other corporate expenses, net | (1,710) | (1,608) | (5,422) | (4,743) | |||||||||||||||||||
Total operating income | $ | 23,076 | $ | 24,126 | $ | 94,543 | $ | 85,163 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | Change | June 25, 2022 | June 26, 2021 | Change | ||||||||||||||||||||||||||||||
Net sales by category: | |||||||||||||||||||||||||||||||||||
iPhone (1) | $ | 40,665 | $ | 39,570 | 3 | % | $ | 162,863 | $ | 153,105 | 6 | % | |||||||||||||||||||||||
Mac (1) | 7,382 | 8,235 | (10) | % | 28,669 | 26,012 | 10 | % | |||||||||||||||||||||||||||
iPad (1) | 7,224 | 7,368 | (2) | % | 22,118 | 23,610 | (6) | % | |||||||||||||||||||||||||||
Wearables, Home and Accessories (1)(2) | 8,084 | 8,775 | (8) | % | 31,591 | 29,582 | 7 | % | |||||||||||||||||||||||||||
Services (3) | 19,604 | 17,486 | 12 | % | 58,941 | 50,148 | 18 | % | |||||||||||||||||||||||||||
Total net sales | $ | 82,959 | $ | 81,434 | 2 | % | $ | 304,182 | $ | 282,457 | 8 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | Change | June 25, 2022 | June 26, 2021 | Change | ||||||||||||||||||||||||||||||
Net sales by reportable segment: | |||||||||||||||||||||||||||||||||||
Americas | $ | 37,472 | $ | 35,870 | 4 | % | $ | 129,850 | $ | 116,486 | 11 | % | |||||||||||||||||||||||
Europe | 19,287 | 18,943 | 2 | % | 72,323 | 68,513 | 6 | % | |||||||||||||||||||||||||||
Greater China | 14,604 | 14,762 | (1) | % | 58,730 | 53,803 | 9 | % | |||||||||||||||||||||||||||
Japan | 5,446 | 6,464 | (16) | % | 20,277 | 22,491 | (10) | % | |||||||||||||||||||||||||||
Rest of Asia Pacific | 6,150 | 5,395 | 14 | % | 23,002 | 21,164 | 9 | % | |||||||||||||||||||||||||||
Total net sales | $ | 82,959 | $ | 81,434 | 2 | % | $ | 304,182 | $ | 282,457 | 8 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Gross margin: | |||||||||||||||||||||||
Products | $ | 21,870 | $ | 23,049 | $ | 90,157 | $ | 82,833 | |||||||||||||||
Services | 14,015 | 12,206 | 42,530 | 34,829 | |||||||||||||||||||
Total gross margin | $ | 35,885 | $ | 35,255 | $ | 132,687 | $ | 117,662 |
Gross margin percentage: | |||||||||||||||||||||||
Products | 34.5 | % | 36.0 | % | 36.8 | % | 35.7 | % | |||||||||||||||
Services | 71.5 | % | 69.8 | % | 72.2 | % | 69.5 | % | |||||||||||||||
Total gross margin percentage | 43.3 | % | 43.3 | % | 43.6 | % | 41.7 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Research and development | $ | 6,797 | $ | 5,717 | $ | 19,490 | $ | 16,142 | |||||||||||||||
Percentage of total net sales | 8 | % | 7 | % | 6 | % | 6 | % | |||||||||||||||
Selling, general and administrative | $ | 6,012 | $ | 5,412 | $ | 18,654 | $ | 16,357 | |||||||||||||||
Percentage of total net sales | 7 | % | 7 | % | 6 | % | 6 | % | |||||||||||||||
Total operating expenses | $ | 12,809 | $ | 11,129 | $ | 38,144 | $ | 32,499 | |||||||||||||||
Percentage of total net sales | 15 | % | 14 | % | 13 | % | 12 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | Change | June 25, 2022 | June 26, 2021 | Change | ||||||||||||||||||||||||||||||
Interest and dividend income | $ | 722 | $ | 719 | $ | 2,072 | $ | 2,184 | |||||||||||||||||||||||||||
Interest expense | (719) | (665) | (2,104) | (1,973) | |||||||||||||||||||||||||||||||
Other income/(expense), net | (13) | 189 | (65) | 585 | |||||||||||||||||||||||||||||||
Total other income/(expense), net | $ | (10) | $ | 243 | (104) | % | $ | (97) | $ | 796 | (112) | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
June 25, 2022 | June 26, 2021 | June 25, 2022 | June 26, 2021 | ||||||||||||||||||||
Provision for income taxes | $ | 3,624 | $ | 2,625 | $ | 15,364 | $ | 11,830 | |||||||||||||||
Effective tax rate | 15.7 | % | 10.8 | % | 16.3 | % | 13.8 | % | |||||||||||||||
Statutory federal income tax rate | 21 | % | 21 | % | 21 | % | 21 | % |
Periods | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1) | ||||||||||||||||||||||
March 27, 2022 to April 30, 2022: | ||||||||||||||||||||||||||
Open market and privately negotiated purchases | 50,578 | $ | 168.06 | 50,578 | ||||||||||||||||||||||
May 1, 2022 to May 28, 2022: | ||||||||||||||||||||||||||
Open market and privately negotiated purchases | 42,069 | $ | 148.45 | 42,069 | ||||||||||||||||||||||
May 29, 2022 to June 25, 2022: | ||||||||||||||||||||||||||
Open market and privately negotiated purchases | 50,027 | $ | 139.06 | 50,027 | ||||||||||||||||||||||
Total | 142,674 | $ | 85,877 |
Incorporated by Reference | ||||||||||||||||||||||||||
Exhibit Number | Exhibit Description | Form | Exhibit | Filing Date/ Period End Date | ||||||||||||||||||||||
31.1* | ||||||||||||||||||||||||||
31.2* | ||||||||||||||||||||||||||
32.1** | ||||||||||||||||||||||||||
101* | Inline XBRL Document Set for the condensed consolidated financial statements and accompanying notes in Part I, Item 1, “Financial Statements” of this Quarterly Report on Form 10-Q. | |||||||||||||||||||||||||
104* | Inline XBRL for the cover page of this Quarterly Report on Form 10-Q, included in the Exhibit 101 Inline XBRL Document Set. |
Date: July 28, 2022 | Apple Inc. | ||||||||||
By: | /s/ Luca Maestri | ||||||||||
Luca Maestri | |||||||||||
Senior Vice President, Chief Financial Officer |
1 Year Apple Chart |
1 Month Apple Chart |
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