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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents and each of them, full
power and authority to do and perform... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Cook
TIMOTHY D. COOK
Chief Executive Officer and Director
(Principal Executive Officer)
April 28, 2022
/s/ Luca Maestri
LUCA MAESTRI
Senior Vice President, Chief Financial Officer
(Principal Fin... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022
/s/ Andrea Jung
ANDREA JUNG
Director
April 28, 2022
/s/ Arthur D. Levinson
ARTHUR D. LEVINSON
Director and Chair of the Board
April 28, 2022
/s/ Monica Lozano
MONICA LOZANO
Director
Apr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-A
FOR REGISTRATION OF
CERTAIN CLASSES OF SECURITIES
PURSUANT TO SECTION 12(b) OR (g) OF
THE SECURITIES EXCHANGE AC... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Name of Each Exchange on Which
Each Class is to be
Registered
0.000% Notes due 2025
The Nasdaq Stock Market LLC
0.500% Notes due 2031
The Nasdaq Stock Market LLC
If this form relates to the r... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
form relates to the registration of a class of securities
concurrently with a Regulation A offering, check the following box. ☐
Securities Act registration statement or Regulation A offering state... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Income Tax Considerations” in the Prospectus Supplement and “Description of the Debt Securities” in the Prospectus.
Item 2.
Exhibits
Exhibit
No.
Exhibit Description
4.1
Indenture dated as o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Certificate issued November 15, 2019
setting forth the terms of the Notes (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K (File No. 001-36743) filed with... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Employer Identification No.)
One Apple Park Way
Cupertino, California
95014
(Address of principal executive offices)
(Zip Code)
(408) 996-1010
(Registrant’s telephone number, including area c... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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 LL... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Securities Act.
Yes
No
Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Yes
No
Indicate by check mark whether the Re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).
Yes
No
Indicate by check mark whether the Registrant is... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ates of the Registrant, as of March 25, 2022, the last business day of the Registrant’s most recently completed second fiscal quarter, was approximately $2,830,067,000,000. Solely for purposes of thi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
meeting of shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The Registrant’s definitive proxy statement will be filed with the U.S. Securi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
18
Item 6.
[Reserved]
19
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.
Executive Compensation
54
Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
54
Item 13.
Certain Relationships and Related Transactions, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, Item 7 of this Form 10-K under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Forward-looking statements provide current expectations of future... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
guarantees of future performance and the Company’s actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences inc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
its wholly owned subsidiaries, unless otherwise stated.
PART I
Item 1. Business
Company Background
Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, weara... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, as well as desktops iMac
, Mac mini
, Mac Studio™ and Mac Pro
iPad
iPad
is the Company’s line of multipurpose tablets based on its iPadOS
operating system. The iPad line includes iPad Pro
, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
operating system, including Apple Watch Ultra™, Apple Watch Series 8 and Apple Watch SE
; and
Beats
products, HomePod mini
and accessories.
Apple Inc. | 2022 Form 10-K | 1
Services
Advertisi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
keep customers’ content up-to-date and available across multiple Apple devices and Windows personal computers.
Digital Content
Apple Inc. operates various platforms, including the App Store
that ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a cashless payment service.
Markets and Distribution
Apple Inc.’s customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets. Apple Inc. se... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
are characterized by aggressive price competition and resulting downward pressure on gross margins, frequent introduction of new products and services, short product life cycles, evolving industry s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
include price, product and service features (including security features), relative price and performance, product and service quality and reliability, design innovation, a strong third-party softwa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
been particularly intense as competitors have aggressively cut prices and lowered product margins. Certain competitors have the resources, experience or cost structures to provide products at little... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
wearables and accessories. Therefore, many components used by the Company, including those that are available from multiple sources, are at times subject to industry-wide shortage and significant co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
guarantee that the Company will be able to extend or renew these agreements on similar terms, or at all.
Substantially all of the Company’s hardware products are manufactured by outsourcing partner... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
holds a broad collection of intellectual property rights relating to certain aspects of its hardware devices, accessories, software and services. This includes patents, designs, copyrights, trademar... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. No single intellectual property right is solely responsible for protecting the Company’s products and services. Apple Inc. believes the duration of its intellectual property rights is adequate rela... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Apple Inc. has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in part to seasonal holiday demand. Additionally, new product and ser... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022, the Company had approximately 164,000 full-time equivalent employees.
Workplace Practices and Policies
Apple Inc. is an equal opportunity employer committed to inclusion and diversity and to ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
build and sustain a more inclusive workforce that is representative of the communities it serves. Apple Inc. continues to work to increase diverse representation at every level, foster an inclusive ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
general safety, security and crisis management training, and by putting specific programs in place for those working in potentially high-hazard environments. Additionally, the Company works to prote... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the Company with the SEC are available free of charge at investor.apple.com/investor-relations/sec-filings/default.aspx when such reports are available on the SEC’s website. Apple Inc. periodically ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Risk Factors
Apple Inc.’s business, reputation, results of operations, financial condition and stock price can be affected by a number of factors, whether currently known or unknown, including thos... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and accompanying notes in Part II, Item 8, “Financial Statements an... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
depend significantly on global and regional economic conditions.
Adverse macroeconomic conditions, including inflation, slower growth or recession, new or increased tariffs and other barriers to tr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
significant impact on the Company’s suppliers, contract manufacturers, logistics providers, distributors, cellular network carriers and other channel partners. Potential effects include financial in... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in the future be materially adversely affected by the COVID-19 pandemic.
COVID-19 has had, and continues to have, a significant impact around the world, prompting governments and businesses to take... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, resulting in supply shortages that affected sales worldwide, and similar disruptions could occur in the future. Public safety measures can also adversely impact consumer demand for the Company’s pr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
global economy and demand for consumer products and services. Additional future impacts on the Company may include material adverse effects on demand for the Company’s products and services, the Com... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and other international disputes, war, terrorism, natural disasters, public health issues, industrial accidents and other business interruptions can harm or disrupt international commerce and the gl... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, sanctions and other measures that restrict international trade, and can materially adversely affect the Company’s business, particularly if these measures occur in regions where the Company derives... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, such as controls on imports or exports of goods, technology or data, that could adversely impact the Company’s operations and supply chain and limit the Company’s ability to offer its products and ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
’s business. Political uncertainty surrounding trade and other international disputes could also have a negative effect on consumer confidence and spending, which could adversely affect the Company’s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
intense effects. Such events can make it difficult or impossible for the Company to manufacture and deliver products to its customers, create delays and inefficiencies in the Company’s supply and ma... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to maintain safe working environments and operations, an industrial accident could occur and could result in serious injuries or loss of life, disruption to the Company’s business, and harm to the C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
insurance coverage may be insufficient to cover all losses that may arise.
Global markets for the Company’s products and services are highly competitive and subject to rapid technological change, a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, including the hardware, operating system, numerous software applications and related services. As a result, the Company must make significant investments in R&D. There can be no assurance these inv... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
new products with attractive margins or if competitors infringe on the Company’s intellectual property, the Company’s ability to maintain a competitive advantage could be materially adversely affect... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
which the Company competes have from time to time experienced little to no growth or contracted overall.
Additionally, the Company faces significant competition as competitors imitate the Company’s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and financial condition depend substantially on the Company’s ability to continually improve its products and services to maintain their functional and design advantages. There can be no assurance t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
product and service introductions depends on a number of factors, including timely and successful development, market acceptance, the Company’s ability to manage the risks associated with production... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
or in part by outsourcing partners located primarily in Asia, including China mainland, India, Japan, South Korea, Taiwan and Vietnam, and a significant concentration of this manufacturing is curren... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
product defect expense reimbursement, the Company generally remains responsible to the consumer for warranty and out-of-warranty service in the event of product defects and experiences unanticipated... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
In addition, manufacturing or logistics in these locations or transit to final destinations can be disrupted for a variety of reasons, including natural and man-made disasters, information technolog... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
depend upon the Company’s ability to obtain components in sufficient quantities on commercially reasonable terms.
Because the Company currently obtains certain components from single or limited sou... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
or renew these agreements on similar terms, or at all. Component suppliers may suffer from poor financial conditions, which can lead to business failure for the supplier or consolidation within a pa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
| 2022 Form 10-K | 8
Apple Inc.’s new products often utilize custom components available from only one source. When a component or product uses new technologies, initial capacity constraints may ex... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
could materially adversely affect the Company’s business, results of operations and financial condition. Apple Inc.’s business and financial performance could also be materially adversely affected d... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company purchases from third parties. Component defects could make the Company’s products unsafe and create a risk of environmental or property damage and personal injury. These risks may increase a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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 litig... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Apple Inc. also accrues necessary cancellation fee reserves for orders of excess products and components. Apple Inc. reviews long-lived assets, including capital assets held at its suppliers’ facili... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
its products and builds inventory in advance of product announcements and shipments. Manufacturing purchase obligations cover the Company’s forecasted component and manufacturing requirements, typic... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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 pro... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company’s business, results of operations and financial condition.
Apple Inc. | 2022 Form 10-K | 9
Apple Inc.’s future performance depends in part on support from third-party software developers.
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
such software and services for the Company’s products compared to competitors’ platforms, such as Android for smartphones and tablets, Windows for personal computers and tablets, and PlayStation, Ni... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
devices can suffer.
Apple Inc. relies on the continued availability and development of compelling and innovative software applications for its products. Apple Inc.’s products and operating systems ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
taken in response to competition, market and legal conditions. Apple Inc. may make further business changes in the future. New legislative initiatives, such as the European Union (“EU”) Digital Mark... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
eliminated, the Company’s business, results of operations and financial condition could be materially adversely affected.
Failure to obtain or create digital content that appeals to the Company’s c... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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. Other content owner... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. If requirements change, the Company may have to develop or license new technology to provide these solutions. There can be no assurance the Company will be able to develop or license such solutions... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
competition for their talents is intense, especially in Silicon Valley, where most of the Company’s key personnel are located. In addition to intense competition for talent, workforce dynamics are c... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and certain of its services through cellular network carriers, wholesalers, retailers and resellers, many of which distribute products and services from competitors. Apple Inc. also sells its produc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
. These programs can require a substantial investment while not assuring return or incremental sales. The financial condition of these resellers could weaken, these resellers could stop distributing ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company’s or its vendors’ business continuity and disaster recovery planning may not be sufficient for all eventualities. Such failures or disruptions can adversely impact the Company’s business by,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
through the use of encryption and other security measures intended to protect its systems and data. But these measures cannot provide absolute security, and losses or unauthorized access to or relea... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
reputation, results of operations and financial condition.
Apple Inc. | 2022 Form 10-K | 11
Apple Inc. experiences malicious attacks and other attempts to gain unauthorized access to its systems o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and remove or obfuscate forensic evidence, all of which hinders the Company’s ability to identify, investigate and recover from incidents. In addition, attacks against the Company and its customers ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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. For examp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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 clai... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-offs. 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 con... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
substantial lease commitments for retail space. Certain stores have been designed and built to serve as high-profile venues to promote brand awareness. Because of their unique design elements, locat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
factors that could have an adverse effect on general retail activity. Other factors include the Company’s ability to: manage costs associated with retail store construction and operation; manage rel... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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. The number of claims, legal... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
countries. The plaintiffs in these actions frequently seek injunctions and substantial damages.
Regardless of the merit of particular claims, defending against litigation or responding to governmen... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of this Form 10-K in the Notes to Consolidated Financial Statements in Note 10, “Commitments and Contingencies” under the heading “Contingencies,” in the opinion of management, there was not at leas... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, disgorgement of revenue or profits, remedial corporate measures or injunctive relief against the Company, and can require the Company to change its business practices and limit the Company’s abilit... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
data localization; consumer protection; advertising, sales, billing and e-commerce; financial services and technology; product liability; intellectual property ownership and infringement; digital pl... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company’s costs, limiting the Company’s ability to offer a product, service or feature to customers, impacting customer demand for the Company’s products and services, and requiring changes to the C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
’s business, reputation, results of operations and financial condition. Regulatory changes and other actions that materially adversely affect the Company’s business may be announced with little or no... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
environmental, social and governance considerations expose the Company to potential liabilities, increased costs, reputational harm, and other adverse effects on the Company’s business.
Many govern... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
data that is outside the Company’s control. Apple Inc. cannot guarantee that it will achieve its announced environmental, social and governance goals and initiatives. In addition, some stakeholders ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, government investigations, legal actions and penalties.
From time to time, the Company has made changes to its App Store, including actions taken in response to competition, market and legal condi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
For example, the Company is the subject of investigations in Europe and other jurisdictions relating to App Store terms and conditions. If such investigations result in adverse findings against the ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
materially adversely affect the Company’s business, results of operations and financial condition. For example, the Company earns revenue from licensing arrangements with other companies to offer th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
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, and lost sales.
App... |
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