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0000320193 | 20221028 | 10-K | 200 | Component suppliers may suffer from poor financial conditions, which can lead to business failure for the supplier or consolidation within a particular industry, further limiting the Company’s ability to obtain sufficient quantities of components on commercially reasonable terms or at all. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 201 | The effects of global or regional economic conditions on the Company’s suppliers, described in “The Company’s operations and performance depend significantly on global and regional economic conditions and adverse economic conditions can materially adversely affect the Company’s business, results of operations and finan... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 202 | Therefore, the Company remains subject to significant risks of supply shortages and price increases that can materially adversely affect its business, results of operations and financial condition. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 203 | Apple Inc. | 2022 Form 10-K | 8
The Company’s new products often utilize custom components available from only one source. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 204 | When a component or product uses new technologies, initial capacity constraints may exist until the suppliers’ yields have matured or their manufacturing capacities have increased. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 205 | The continued availability of these components at acceptable prices, or at all, can be affected for any number of reasons, including if suppliers decide to concentrate on the production of common components instead of components customized to meet the Company’s requirements. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 206 | When the Company’s supply of components for a new or existing product has been delayed or constrained, or when an outsourcing partner has delayed shipments of completed products to the Company, the Company’s business, results of operations and financial condition have been adversely affected and future delays or constr... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 207 | The Company’s business and financial performance could also be materially adversely affected depending on the time required to obtain sufficient quantities from the source, or to identify and obtain sufficient quantities from an alternative source. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 208 | The Company’s products and services may be affected from time to time by design and manufacturing defects that could materially adversely affect the Company’s business and result in harm to the Company’s reputation. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 209 | The Company offers complex hardware and software products and services that can be affected by design and manufacturing defects. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 210 | Sophisticated operating system software and applications, such as those offered by the Company, often have issues that can unexpectedly interfere with the intended operation of hardware or software products. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 211 | Defects can also exist in components and products the Company purchases from third parties. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 212 | Component defects could make the Company’s products unsafe and create a risk of environmental or property damage and personal injury. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 213 | These risks may increase as the Company’s products are introduced into specialized applications, including health. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 214 | In addition, the Company’s service offerings can have quality issues and from time to time experience outages, service slowdowns or errors. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 215 | As a result, the Company’s services from time to time have not performed as anticipated and may not meet customer expectations. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 216 | There can be no assurance the Company will be able to detect and fix all issues and defects in the hardware, software and services it offers. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 217 | Failure to do so can result in widespread technical and performance issues affecting the Company’s products and services. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 218 | In addition, the Company can be exposed to product liability claims, recalls, product replacements or modifications, write-offs of inventory, property, plant and equipment, and/or intangible assets, and significant warranty and other expenses, including litigation costs and regulatory fines. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 219 | Quality problems can also adversely affect the experience for users of the Company’s products and services, and result in harm to the Company’s reputation, loss of competitive advantage, poor market acceptance, reduced demand for products and services, delay in new product and service introductions and lost sales. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 220 | The Company is exposed to the risk of write-downs on the value of its inventory and other assets, in addition to purchase commitment cancellation risk. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 221 | The Company records a write-down for product and component inventories that have become obsolete or exceed anticipated demand, or for which cost exceeds net realizable value. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 222 | The Company also accrues necessary cancellation fee reserves for orders of excess products and components. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 223 | The Company reviews long-lived assets, including capital assets held at its suppliers’ facilities and inventory prepayments, for impairment whenever events or circumstances indicate the assets may not be recoverable. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 224 | If the Company determines that an impairment has occurred, it records a write-down equal to the amount by which the carrying value of the asset exceeds its fair value. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 225 | Although the Company believes its inventory, capital assets, inventory prepayments and other assets and purchase commitments are currently recoverable, there can be no assurance the Company will not incur write-downs, fees, impairments and other charges given the rapid and unpredictable pace of product obsolescence in ... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 226 | The Company orders components for its products and builds inventory in advance of product announcements and shipments. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 227 | Manufacturing purchase obligations cover the Company’s forecasted component and manufacturing requirements, typically for periods up to 150 days. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 228 | Because the Company’s markets are volatile, competitive and subject to rapid technology and price changes, there is a risk the Company will forecast incorrectly and order or produce excess or insufficient amounts of components or products, or not fully utilize firm purchase commitments. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 229 | The Company relies on access to third-party intellectual property, which may not be available to the Company on commercially reasonable terms or at all. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 230 | The Company’s products and services are designed to include intellectual property owned by third parties, which requires licenses from those third parties. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 231 | In addition, because of technological changes in the industries in which the Company currently competes or in the future may compete, current extensive patent coverage and the rapid rate of issuance of new patents, the Company’s products and services can unknowingly infringe existing patents or intellectual property ri... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 232 | From time to time, the Company has been notified that it may be infringing certain patents or other intellectual property rights of third parties. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 233 | Based on experience and industry practice, the Company believes licenses to such third-party intellectual property can generally be obtained on commercially reasonable terms. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 234 | However, there can be no assurance the necessary licenses can be obtained on commercially reasonable terms or at all. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 235 | Failure to obtain the right to use third-party intellectual property, or to use such intellectual property on commercially reasonable terms, can preclude the Company from selling certain products or services, or otherwise have a material adverse impact on the Company’s business, results of operations and financial cond... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 236 | Apple Inc. | 2022 Form 10-K | 9
The Company’s future performance depends in part on support from third-party software developers. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 237 | The Company believes decisions by customers to purchase its hardware products depend in part on the availability of third-party software applications and services. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 238 | There can be no assurance third-party developers will continue to develop and maintain software applications and services for the Company’s products. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 239 | If third-party software applications and services cease to be developed and maintained for the Company’s products, customers may choose not to buy the Company’s products. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 240 | The Company believes the availability of third-party software applications and services for its products depends in part on the developers’ perception and analysis of the relative benefits of developing, maintaining and upgrading such software and services for the Company’s products compared to competitors’ platforms, ... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 241 | This analysis may be based on factors such as the market position of the Company and its products, the anticipated revenue that may be generated, expected future growth of product sales, and the costs of developing such applications and services. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 242 | The Company’s minority market share in the global smartphone, personal computer and tablet markets can make developers 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 competitors’ products with larger market sha... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 243 | When developers focus their efforts on these competing platforms, the availability and quality of applications for the Company’s devices can suffer. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 244 | The Company relies on the continued availability and development of compelling and innovative software applications for its products. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 245 | The Company’s products and operating systems are subject to rapid technological change, and when third-party developers are unable to or choose not to keep up with this pace of change, their applications can fail to take advantage of these changes to deliver improved customer experiences and can operate incorrectly and... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 246 | The Company distributes third-party applications for its products through the App Store. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 247 | For the vast majority of applications, developers keep all of the revenue they generate on the App Store. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 248 | The Company only retains a commission from sales of applications and sales of digital services or goods within an application. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 249 | From time to time, the Company has made changes to its App Store, including actions taken in response to competition, market and legal conditions. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 250 | The Company may make further business changes in the future. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 251 | New legislative initiatives, such as the European Union (“EU”) Digital Markets Act, could require further changes. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 252 | The Company is also subject to litigation and investigations relating to the App Store, which have resulted in changes to the Company’s business practices, and may in the future result in further changes. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 253 | These changes could include how and to what extent the Company charges developers for access to its platforms and manages distribution of apps outside of the App Store. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 254 | This could reduce the volume of sales, and the commission that the Company earns on those sales, would decrease. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 255 | If the rate of the commission that the Company retains on such sales is reduced, or if it is otherwise narrowed in scope or eliminated, the Company’s business, results of operations and financial condition could be materially adversely affected. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 256 | Failure to obtain or create digital content that appeals to the Company’s customers, or to make such content available on commercially reasonable terms, could have a material adverse impact on the Company’s business, results of operations and financial condition. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 257 | The Company contracts with numerous third parties to offer their digital content to customers. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 258 | This includes the right to sell, or offer subscriptions to, third-party content, as well as the right to incorporate specific content into the Company’s own services. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 259 | The licensing or other distribution arrangements for this content can be for relatively short time periods and do not guarantee the continuation or renewal of these arrangements on commercially reasonable terms, or at all. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 260 | Some third-party content providers and distributors currently or in the future may offer competing products and services, and can take actions to make it difficult or impossible for the Company to license or otherwise distribute their content. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 261 | Other content owners, providers or distributors may seek to limit the Company’s access to, or increase the cost of, such content. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 262 | The Company may be unable to continue to offer a wide variety of content at commercially reasonable prices with acceptable usage rules. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 263 | The Company also produces its own digital content, which can be costly to produce due to intense and increasing competition for talent, content and subscribers, and may fail to appeal to the Company’s customers. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 264 | The COVID-19 pandemic has also caused additional restrictions on production and increased costs for digital content. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 265 | Some third-party digital content providers require the Company to provide digital rights management and other security solutions. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 266 | If requirements change, the Company may have to develop or license new technology to provide these solutions. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 267 | There can be no assurance the Company will be able to develop or license such solutions at a reasonable cost and in a timely manner. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 268 | Apple Inc. | 2022 Form 10-K | 10
The Company’s success depends largely on the talents and efforts of its team members, the continued service and availability of highly skilled employees, including key personnel, and the Company’s ability to nurture its distinctive and inclusive culture. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 269 | Much of the Company’s future success depends on the talents and efforts of its team members, the continued availability and service of key personnel, including its Chief Executive Officer, executive team and other highly skilled employees. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 270 | Experienced personnel in the technology industry are in high demand and competition for their talents is intense, especially in Silicon Valley, where most of the Company’s key personnel are located. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 271 | In addition to intense competition for talent, workforce dynamics are constantly evolving. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 272 | If the Company does not manage changing workforce dynamics effectively, it could materially adversely affect the Company’s culture, reputation and operational flexibility. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 273 | The Company believes that its distinctive and inclusive culture is a significant driver of its success. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 274 | If the Company is unable to nurture its culture, it could materially adversely affect the Company’s ability to recruit and retain the highly skilled employees who are critical to its success, and could otherwise materially adversely affect the Company’s business, reputation, results of operations and financial conditio... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 275 | The Company depends on the performance of carriers, wholesalers, retailers and other resellers. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 276 | The Company distributes its products and certain of its services through cellular network carriers, wholesalers, retailers and resellers, many of which distribute products and services from competitors. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 277 | The Company also sells its products and services and resells third-party products in most of its major markets directly to consumers, small and mid-sized businesses, and education, enterprise and government customers through its retail and online stores and its direct sales force. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 278 | Some carriers providing cellular network service for the Company’s products offer financing, installment payment plans or subsidies for users’ purchases of the device. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 279 | There can be no assurance such offers will be continued at all or in the same amounts. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 280 | The Company has invested and will continue to invest in programs to enhance reseller sales, including staffing selected resellers’ stores with Company employees and contractors, and improving product placement displays. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 281 | These programs can require a substantial investment while not assuring return or incremental sales. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 282 | The financial condition of these resellers could weaken, these resellers could stop distributing the Company’s products, or uncertainty regarding demand for some or all of the Company’s products could cause resellers to reduce their ordering and marketing of the Company’s products. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 283 | The Company’s business and reputation are impacted by information technology system failures and network disruptions. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 284 | The Company and its global supply chain are exposed to information technology system failures or network disruptions caused by natural disasters, accidents, power disruptions, telecommunications failures, acts of terrorism or war, computer viruses, physical or electronic break-ins, ransomware or other cybersecurity inc... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 285 | System redundancy and other continuity measures may be ineffective or inadequate, and the Company’s or its vendors’ business continuity and disaster recovery planning may not be sufficient for all eventualities. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 286 | Such failures or disruptions can adversely impact the Company’s business by, among other things, preventing access to the Company’s online services, interfering with customer transactions or impeding the manufacturing and shipping of the Company’s products. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 287 | These events could materially adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 288 | Losses or unauthorized access to or releases of confidential information, including personal information, could subject the Company to significant reputational, financial, legal and operational consequences. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 289 | The Company’s business requires it to use and store confidential information, including personal information, with respect to the Company’s customers and employees. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 290 | The Company devotes significant resources to network and data security, including through the use of encryption and other security measures intended to protect its systems and data. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 291 | But these measures cannot provide absolute security, and losses or unauthorized access to or releases of confidential information occur and could materially adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 292 | The Company’s business also requires it to share confidential information with suppliers and other third parties. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 293 | The Company relies on global suppliers that are also exposed to ransomware and other malicious attacks that can disrupt business operations. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 294 | Although the Company takes steps to secure confidential information that is provided to or accessible by third parties working on the Company’s behalf, such measures are not always effective and losses or unauthorized access to or releases of confidential information occur. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 295 | Such incidents and other malicious attacks could materially adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 296 | Apple Inc. | 2022 Form 10-K | 11
The Company experiences malicious attacks and other attempts to gain unauthorized access to its systems on a regular basis. | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 297 | These attacks seek to compromise the confidentiality, integrity or availability of confidential information or disrupt normal business operations, and could, among other things, impair the Company’s ability to attract and retain customers for its products and services, impact the Company’s stock price, materially damag... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 298 | Globally, attacks are expected to continue accelerating in both frequency and sophistication with increasing use by actors of tools and techniques that are designed to circumvent controls, avoid detection, and remove or obfuscate forensic evidence, all of which hinders the Company’s ability to identify, investigate and... | 0000320193-22-000108/full-submission.txt |
0000320193 | 20221028 | 10-K | 299 | In addition, attacks against the Company and its customers can escalate during periods of severe diplomatic or armed conflict. | 0000320193-22-000108/full-submission.txt |
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