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0000320193 | 20080723 | 10-Q | 951 | The Company contracts with third parties to offer their digital content through the Company’s iTunes Store. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 952 | The Company pays substantial fees to obtain the rights to this content. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 953 | The Company’s licensing arrangements with these third parties are short-term and do not guarantee the continuation or renewal of these arrangements on reasonable terms, if at all. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 954 | Some third-party content providers currently or in the future may offer competing products and services, and could take action to make it more difficult or impossible for the Company to license their content in the future. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 955 | Other content owners, providers or distributors may seek to limit the Company’s access to, or increase the total cost of, such content. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 956 | If the Company is unable to continue to offer a wide variety of content at reasonable prices with acceptable usage rules, or continue to expand its geographic reach, the Company’s financial condition and operating results may be materially adversely affected. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 957 | Many third-party content providers require that the Company provide certain digital rights management (“DRM”) and other security solutions. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 958 | If these requirements change, the Company may have to develop or license new technology to provide these solutions. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 959 | There is no assurance the Company will be able to develop or license such solutions at a reasonable cost and in a timely manner. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 960 | In addition, certain countries have passed or may propose legislation that would force the Company to license its DRM, which could lessen the protection of content and subject it to piracy and also could affect arrangements with the Company’s content providers. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 961 | The Company relies on access to third-party patents and intellectual property, and the Company’s future results could be materially adversely affected if it is alleged or found to have infringed intellectual property rights. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 962 | Many of the Company’s products are designed to include third-party intellectual property, and in the future the Company may need to seek or renew licenses relating to various aspects of its products and business methods. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 963 | Although the Company believes that, based on past experience and industry practice, such licenses generally could be obtained on reasonable terms, there is no assurance that the necessary licenses would be available on acceptable terms or at all. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 964 | Because of technological changes in the global personal computer, consumer electronics and mobile communication industries, current extensive patent coverage, and the rapid issuance of new patents, it is possible that certain components of the Company’s products and business methods may unknowingly infringe the patents... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 965 | From time to time, the Company has been notified that it may be infringing such rights. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 966 | Regardless of merit, responding to such claims can consume significant time and expense. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 967 | At present, the Company is vigorously defending more than 22 patent infringement cases, 14 of which were filed during fiscal 2008, and several pending claims are in various stages of evaluation. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 968 | In certain cases, the Company may consider the desirability of entering into licensing agreements, although no assurance can be given that such licenses can be obtained on acceptable terms or that litigation will not occur. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 969 | If the Company is found to be infringing such rights, it may be required to pay substantial damages. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 970 | If there is a temporary or permanent injunction prohibiting the Company from marketing or selling certain products or a successful claim of infringement against the Company requires it to pay royalties to a third party, the Company’s financial condition and operating results could be materially adversely affected, rega... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 971 | While in management’s opinion, the Company does not have a potential liability for damages or royalties from any known current legal proceedings or claims related to the infringement of patent or other intellectual property rights that would individually or in the aggregate have a material adverse effect on its financi... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 972 | Should the Company fail to prevail in any of the matters related to infringement of patent or other intellectual property rights of others or should several of these matters be resolved against the Company in the same reporting period, the Company’s financial condition and operating results could be materially adversel... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 973 | With the June 2007 introduction of iPhone, the Company has begun to compete with mobile communication device companies that hold significant patent portfolios. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 974 | Regardless of the scope or validity of such patents or the merits of any potential patent claims by competitors, the Company may have to engage in protracted litigation, enter into expensive agreements or settlements and/or modify its products. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 975 | Any of these events could have a material adverse impact on the Company’s financial condition and operating results. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 976 | The Company’s future performance depends on support from third-party software developers. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 977 | If third-party software applications and services cease to be developed and maintained for the Company’s hardware products, customers may choose not to buy the Company’s products. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 978 | The Company believes decisions by customers to purchase the Company’s hardware products are often based on the availability of third-party software applications and services. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 979 | There is no assurance that third-party developers will continue to develop and maintain applications and services for the Company’s hardware products on a timely basis or at all, and discontinuance or delay of these applications and services could have a material adverse effect on the Company’s financial condition and ... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 980 | The Company believes the availability of third-party applications and services depends in part on the developers’ perception and analysis of the relative benefits of developing, maintaining, and upgrading such software for the Company’s products compared to Windows-based products. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 981 | This analysis may be based on factors such as the perceived strength of the Company and its products, the anticipated revenue that may be generated, continued acceptance by customers of Mac OS X, and the costs of developing such applications and services. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 982 | If the Company’s minority share of the global personal computer market causes developers to question the Company’s prospects, developers could be less inclined to develop or upgrade software for the Company’s products and more inclined to devote their resources to developing and upgrading software for the larger Window... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 983 | The Company’s development of its own software applications and services may also negatively affect the decisions of third-party developers, such as Microsoft, Adobe, and Google, to develop, maintain, and upgrade similar or competitive software and services for the Company’s products. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 984 | Mac OS X Leopard, which became available in October 2007, includes a new feature that enables Intel-based Mac systems to run Microsoft Windows XP and Windows Vista operating systems. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 985 | This feature may deter developers from creating software applications for Mac OS X if such applications are already available for the Windows platform. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 986 | The Company’s products experience quality problems from time to time that can result in decreased sales and operating margin. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 987 | The Company sells highly complex hardware and software products that can contain defects in design and manufacture. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 988 | Sophisticated operating system software and applications, such as those sold by the Company, often contain “bugs” that can unexpectedly interfere with the software’s intended operation. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 989 | Defects may also occur in components and products the Company purchases from third parties. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 990 | There can be no assurance that the Company will be able to detect and fix all defects in the hardware and software it sells. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 991 | Failure to do so could result in lost revenue, harm to reputation, and significant warranty and other expenses, and could have a material adverse impact on the Company’s financial condition and operating results. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 992 | The Company expects its quarterly revenue and operating results to fluctuate for a variety of reasons. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 993 | The Company’s profit margins vary among its products and its distribution channels. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 994 | The Company’s software, accessories, and service and support contracts generally have higher gross margins than certain of the Company’s other products, including third-party content from the iTunes Store. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 995 | Gross margins on the Company’s hardware products vary across product lines and can change over time as a result of product transitions, pricing and configuration changes, and component, warranty, and other cost fluctuations. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 996 | The Company’s direct sales generally have higher associated gross margins than its indirect sales through its channel partners. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 997 | In addition, the Company’s gross margin and operating margin percentages, as well as overall profitability, may be materially adversely impacted as a result of a shift in product, geographic or channel mix, new products, component cost increases, or price competition. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 998 | The Company has typically experienced greater net sales in the first and fourth fiscal quarters compared to the second and third fiscal quarters due to seasonal demand related to the holiday season and the beginning of the school year, respectively. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 999 | Furthermore, the Company sells more products from time-to-time during the third month of a quarter than it does during either of the first two months. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,000 | Developments late in a quarter, such as lower-than-anticipated demand for the Company’s products, an internal systems failure, or failure of one of the Company’s key logistics, components supply, or manufacturing partners, could have a material adverse impact on the Company’s financial condition and operating results. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,001 | In certain countries, including the U.S., the Company relies on a single cellular network carrier to provide service for iPhone. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,002 | In the U.S., U.K., France, Germany, Spain, Ireland, and certain other countries, the Company has contracted with a single carrier to provide cellular network services for iPhone on an exclusive basis. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,003 | If these exclusive carriers cannot successfully compete with other carriers in their markets for any reason, including but not limited to the quality and coverage of wireless voice and data services, performance and timely build-out of advanced wireless networks, and pricing and other terms of conditions of end-user co... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,004 | The Company is subject to risks associated with laws, regulations and industry-imposed standards related to mobile communications devices. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,005 | Laws and regulations related to mobile communications devices in the many jurisdictions in which the Company operates are extensive and subject to change. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,006 | Such changes, which could include but are not limited to restrictions on production, manufacture, distribution, and use of the device, locking the device to a carrier’s network, or mandating the use of the device on more than one carrier’s network, could have a material adverse effect on the Company’s financial conditi... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,007 | Mobile communication devices, such as iPhone, are subject to certification and regulation by governmental and standardization bodies, as well as by cellular network carriers for use on their networks. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,008 | These certification processes are extensive and time consuming, and could result in additional testing requirements, product modifications or delays in product shipment dates, which could have a material adverse effect on the Company’s financial condition and operating results. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,009 | The Company may be subject to information technology system failures, network disruptions and breaches in data security. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,010 | Information technology system failures, network disruptions and breaches of data security could disrupt the Company’s operations by causing delays or cancellation of customer orders, negatively affecting the Company’s online offerings and services, impeding the manufacture or shipment of products, processing transactio... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,011 | While management has taken steps to address these concerns by implementing sophisticated network security and internal control measures, there can be no assurance that a system failure or data security breach will not have a material adverse effect on the Company’s financial condition and operating results. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,012 | The Company’s stock price may be volatile. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,013 | The Company’s stock has at times experienced substantial price volatility as a result of variations between its actual and anticipated financial results and as a result of announcements by the Company and its competitors. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,014 | The stock market as a whole also has experienced extreme price and volume fluctuations that have affected the market price of many technology companies in ways that may have been unrelated to these companies’ operating performance. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,015 | Furthermore, the Company believes its stock price reflects high future growth and profitability expectations. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,016 | If the Company fails to meet these expectations its stock price may significantly decline. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,017 | Economic conditions, political events, war, terrorism, public health issues, natural disasters and other circumstances could materially adversely affect the Company. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,018 | The Company’s operations and performance depend significantly on worldwide economic conditions and their impact on levels of consumer spending, which have recently deteriorated significantly in many countries and regions, including without limitation the United States, and may remain depressed for the foreseeable futur... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,019 | For example,
some of the factors that could influence the levels of consumer spending include continuing increases in fuel and other energy costs, conditions in the residential real estate and mortgage markets, labor and healthcare costs, access to credit, consumer confidence and other macroeconomic factors affecting c... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,020 | These and other economic factors could have a material adverse effect on demand for the Company’s products and services and on the Company’s financial condition and operating results. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,021 | In addition, war, terrorism, geopolitical uncertainties, public health issues, and other business interruptions have caused and could cause damage or disruption to international commerce and the global economy, and thus could have a strong negative effect on the Company, its suppliers, logistics providers, manufacturin... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,022 | The Company’s business operations are subject to interruption by natural disasters, fire, power shortages, terrorist attacks, and other hostile acts, labor disputes, public health issues, and other events beyond its control. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,023 | Such events could decrease demand for the Company’s products, make it difficult or impossible for the Company to make and deliver products to its customers or to receive components from its suppliers, and create delays and inefficiencies in the Company’s supply chain. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,024 | Should major public health issues, including pandemics, arise, the Company could be negatively affected by more stringent employee travel restrictions, additional limitations in freight services, governmental actions limiting the movement of products between regions, delays in production ramps of new products, and disr... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,025 | The majority of the Company’s research and development activities, its corporate headquarters, information technology systems, and other critical business operations, including certain component suppliers and manufacturing vendors, are located near major seismic faults. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,026 | Because the Company does not carry earthquake insurance for direct quake-related losses and significant recovery time could be required to resume operations, the Company’s financial condition and operating results could be materially adversely affected in the event of a major earthquake. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,027 | The Company’s success depends largely on its ability to attract and retain key personnel. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,028 | Much of the Company’s future success depends on the continued service and availability of skilled personnel, including its CEO, its executive team and key employees in technical, marketing and staff positions. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,029 | Experienced personnel in the technology industry are in high demand and competition for their talents is intense, especially in the Silicon Valley, where most of the Company’s key employees are located. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,030 | The Company has relied on equity awards as one means for recruiting and retaining this highly skilled talent. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,031 | Recent accounting regulations requiring the expensing of stock options have resulted in increased stock-based compensation expense, which has caused the Company to reduce the number of stock-based awards issued to employees and could negatively impact the Company’s ability to attract and retain key personnel. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,032 | Additionally, significant adverse volatility in the Company’s stock price could result in a stock option’s exercise price exceeding the underlying stock’s market value, thus lessening the effectiveness of retaining employees through stock-based awards. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,033 | There can be no assurance that the Company will continue to successfully attract and retain key personnel. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,034 | Unfavorable results of legal proceedings could materially adversely affect the Company. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,035 | The Company is subject to various legal proceedings and claims that have arisen out of the ordinary conduct of its business and are not yet resolved and additional claims may arise in the future. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,036 | Results of legal proceedings cannot be predicted with certainty. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,037 | Regardless of its merit, litigation may be both time-consuming and disruptive to the Company’s operations and cause significant expense and diversion of management attention. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,038 | In recognition of these considerations, the Company may enter into material settlements. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,039 | Should the Company fail to prevail in certain matters, or should several of these matters be resolved against the Company in the same reporting period, the Company may be faced with significant monetary damages or injunctive relief against it that would materially adversely affect a portion of its business and might ma... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,040 | The Company’s business is subject to the risks of international operations. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,041 | The Company derives a large portion of its revenue from its international operations. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,042 | As a result, its financial condition and operating results could be significantly affected by risks associated with international activities, including economic and labor conditions, political instability, tax laws (including U.S. taxes on foreign subsidiaries), and changes in the value of the U.S. dollar versus local ... | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,043 | Margins on sales of the Company’s products in foreign countries, and on sales of products that include components obtained from foreign suppliers, could be materially adversely affected by foreign currency exchange rate fluctuations and by international trade regulations, including tariffs and antidumping penalties. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,044 | The Company’s primary exposure to movements in foreign currency exchange rates relate to non-U.S. dollar denominated sales in Europe, Japan, Australia, Canada, and certain parts of Asia and non-U.S. dollar denominated operating expenses incurred throughout the world. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,045 | Weaknesses in foreign currencies could adversely affect demand for the Company’s products and the U.S. dollar value of the Company’s foreign currency-denominated sales. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,046 | Conversely, a strengthening in these and other foreign currencies could cause the Company to modify international pricing and affect the value of the Company’s foreign denominated sales and may also increase the cost of product components. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,047 | The Company has used derivative instruments, such as foreign exchange forward and option positions, to hedge certain exposures to fluctuations in foreign currency exchange rates. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,048 | The use of such hedging activities may not offset any or more than a portion of the adverse financial effect resulting from unfavorable movements in foreign exchange rates. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,049 | The Company’s retail initiative has required and will continue to require a substantial investment and commitment of resources and is subject to numerous risks and uncertainties. | 0001193125-08-156421/full-submission.txt |
0000320193 | 20080723 | 10-Q | 1,050 | Through June 28, 2008, the Company had opened 216 retail stores. | 0001193125-08-156421/full-submission.txt |
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