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value | date stringlengths 8 8 | form stringclasses 4
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0000320193 | 20211029 | 10-K | 241 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 242 | The Company’s products and services are designed to include intellectual property owned by third parties, which requires licenses from those third parties. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 243 | 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 may unknowingly infringe existing patents or intellectual property ri... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 244 | From time to time, the Company has been notified that it may be infringing certain patents or other intellectual property rights of third parties. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 245 | Based on experience and industry practice, the Company believes licenses to such third-party intellectual property can generally be obtained on commercially reasonable terms. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 246 | However, there can be no assurance the necessary licenses can be obtained on commercially reasonable terms or at all. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 247 | 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... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 248 | The Company’s future performance depends in part on support from third-party software developers. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 249 | The Company believes decisions by customers to purchase its hardware products depend in part on the availability of third-party software applications and services. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 250 | There can be no assurance third-party developers will continue to develop and maintain software applications and services for the Company’s products. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 251 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 252 | 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, ... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 253 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 254 | Apple Inc. | 2021 Form 10-K | 10
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... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 255 | When developers focus their efforts on these competing platforms, the availability and quality of applications for the Company’s devices can suffer. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 256 | The Company relies on the continued availability and development of compelling and innovative software applications for its products. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 257 | 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... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 258 | The Company distributes third-party applications for its products through the App Store. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 259 | For the vast majority of applications, developers keep all of the revenue they generate on the App Store. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 260 | The Company only retains a commission from sales of applications and sales of digital services or goods within an application. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 261 | From time to time, the Company has made changes to its App Store, including actions taken in response to competition, market and legal conditions. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 262 | The Company may make further business changes in the future. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 263 | New legislative initiatives, such as the proposed European Union (“EU”) Digital Markets Act, could, if enacted, require further changes. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 264 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 265 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 266 | This could reduce the volume of sales, and the commission that the Company earns on those sales, would decrease. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 267 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 268 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 269 | The Company contracts with numerous third parties to offer their digital content to customers. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 270 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 271 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 272 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 273 | Other content owners, providers or distributors may seek to limit the Company’s access to, or increase the cost of, such content. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 274 | The Company may be unable to continue to offer a wide variety of content at commercially reasonable prices with acceptable usage rules. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 275 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 276 | The COVID-19 pandemic has also caused additional restrictions on production and increased costs for digital content. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 277 | Some third-party digital content providers require the Company to provide digital rights management and other security solutions. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 278 | If requirements change, the Company may have to develop or license new technology to provide these solutions. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 279 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 280 | The Company’s success depends largely on the continued service and availability of highly skilled employees, including key personnel. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 281 | Much of the Company’s future success depends on the continued availability and service of key personnel, including its Chief Executive Officer, executive team and other highly skilled employees. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 282 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 283 | The Company believes that its distinctive and inclusive culture is a significant driver of its success. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 284 | If the Company is unable to nurture and maintain its culture, it could adversely affect the Company’s ability to recruit and retain highly skilled employees and materially adversely affect the Company’s business, results of operations and financial condition. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 285 | The Company depends on the performance of carriers, wholesalers, retailers and other resellers. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 286 | The Company distributes its products through cellular network carriers, wholesalers, retailers and resellers, many of whom distribute products from competing manufacturers. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 287 | The Company also sells its products 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 288 | Some carriers providing cellular network service for the Company’s products offer financing, installment payment plans or subsidies for users’ purchases of the device. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 289 | There can be no assurance such offers will be continued at all or in the same amounts. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 290 | Apple Inc. | 2021 Form 10-K | 11
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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 291 | These programs can require a substantial investment while not assuring return or incremental sales. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 292 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 293 | The Company’s business and reputation are impacted by information technology system failures and network disruptions. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 294 | 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... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 295 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 296 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 297 | These events could materially adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 298 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 299 | The Company’s business requires it to use and store confidential information, including personal information, with respect to the Company’s customers and employees. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 300 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 301 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 302 | The Company’s business also requires it to share confidential information with suppliers and other third parties. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 303 | The Company relies on global suppliers that are also exposed to ransomware and other malicious attacks that can disrupt business operations. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 304 | 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. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 305 | Such incidents and other malicious attacks could materially adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 306 | The Company experiences malicious attacks and other attempts to gain unauthorized access to its systems on a regular basis. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 307 | 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 price of the Company’s stock, materiall... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 308 | 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... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 309 | Although malicious attacks perpetrated to gain access to confidential information, including personal information, affect many companies across various industries, the Company is at a relatively greater risk of being targeted because of its high profile and the value of the confidential information it creates, owns, ma... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 310 | The Company has implemented systems and processes intended to secure its information technology systems and prevent unauthorized access to or loss of sensitive data, and mitigate the impact of unauthorized access, including through the use of encryption and authentication technologies. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 311 | As with all companies, these security measures may not be sufficient for all eventualities and may be vulnerable to hacking, ransomware attacks, employee error, malfeasance, system error, faulty password management or other irregularities. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 312 | For example, third parties can fraudulently induce the Company’s or its vendors’ employees or customers into disclosing user names, passwords or other sensitive information, which can, in turn, be used for unauthorized access to the Company’s or its vendors’ systems and services. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 313 | To help protect customers and the Company, the Company deploys and makes available technologies like multifactor authentication, monitors its services and systems for unusual activity and may freeze accounts under suspicious circumstances, which, among other things, can result in the delay or loss of customer orders or... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 314 | While the Company maintains insurance coverage that is intended to address certain aspects of data security risks, such insurance coverage may be insufficient to cover all losses or all types of claims that may arise. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 315 | Apple Inc. | 2021 Form 10-K | 12
Investment in new business strategies and acquisitions could disrupt the Company’s ongoing business, present risks not originally contemplated and adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 316 | The Company has invested, and in the future may invest, in new business strategies or acquisitions. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 317 | Such endeavors may involve significant risks and uncertainties, including distraction of management from current operations, greater-than-expected liabilities and expenses, economic, political, legal and regulatory challenges associated with operating in new businesses, regions or countries, inadequate return on capita... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 318 | Investment and acquisition transactions are exposed to additional risks, including failing to obtain required regulatory approvals on a timely basis or at all, or the imposition of onerous conditions that could delay or prevent the Company from completing a transaction or otherwise limit the Company’s ability to fully ... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 319 | These new ventures are inherently risky and may not be successful. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 320 | The failure of any significant investment could adversely affect the Company’s business, reputation, results of operations and financial condition. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 321 | The Company’s retail stores have required and will continue to require a substantial investment and commitment of resources and are subject to numerous risks and uncertainties. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 322 | The Company’s retail stores have required substantial investment in equipment and leasehold improvements, information systems, inventory and personnel. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 323 | The Company also has entered into substantial lease commitments for retail space. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 324 | Certain stores have been designed and built to serve as high-profile venues to promote brand awareness. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 325 | Because of their unique design elements, locations and size, these stores require substantially more investment than the Company’s more typical retail stores. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 326 | Due to the high cost structure associated with the Company’s retail stores, a decline in sales or the closure or poor performance of an individual store or multiple stores, including as a result of protective public safety measures in response to the COVID-19 pandemic, could result in significant lease termination cost... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 327 | The Company’s retail operations are subject to many factors that pose risks and uncertainties and could adversely impact the Company’s business, results of operations and financial condition, including macro-economic factors that could have an adverse effect on general retail activity. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 328 | Other factors include the Company’s ability to: manage costs associated with retail store construction and operation; manage relationships with existing retail partners; manage costs associated with fluctuations in the value of retail inventory; and obtain and renew leases in quality retail locations at a reasonable co... | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 329 | Legal and Regulatory Compliance Risks
The Company’s business, results of operations and financial condition could be adversely impacted by unfavorable results of legal proceedings or government investigations. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 330 | The Company is subject to various claims, legal proceedings and government investigations that have arisen in the ordinary course of business and have not yet been fully resolved, and new matters may arise in the future. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 331 | In addition, agreements entered into by the Company sometimes include indemnification provisions which can subject the Company to costs and damages in the event of a claim against an indemnified third party. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 332 | The number of claims, legal proceedings and government investigations involving the Company, and the alleged magnitude of such claims, proceedings and government investigations, has generally increased over time and may continue to increase. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 333 | The Company has faced and continues to face a significant number of patent claims relating to its cellular-enabled products, and new claims may arise in the future. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 334 | For example, technology and other patent-holding companies frequently assert their patents and seek royalties and often enter into litigation based on allegations of patent infringement or other violations of intellectual property rights. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 335 | The Company is vigorously defending infringement actions in courts in several U.S. jurisdictions, as well as internationally in various countries. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 336 | The plaintiffs in these actions frequently seek injunctions and substantial damages. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 337 | Regardless of the merit of particular claims, defending against litigation or responding to government investigations can be expensive, time-consuming, disruptive to the Company’s operations and distracting to management. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 338 | In recognition of these considerations, the Company may enter into agreements or other arrangements to settle litigation and resolve such challenges. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 339 | There can be no assurance such agreements can be obtained on acceptable terms or that litigation will not occur. | 0000320193-21-000105/full-submission.txt |
0000320193 | 20211029 | 10-K | 340 | These agreements can also significantly increase the Company’s cost of sales and operating expenses and require the Company to change its business practices and limit the Company’s ability to offer certain products and services. | 0000320193-21-000105/full-submission.txt |
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