AAPL · 10-K · 2025A · Full report

Product Launch and Transition

Apple Inc. · 2025-10-31 · Importance 52 · Surprise 42

Apple announced multiple product and software refreshes across iPhone, iPad, Mac and wearables in fiscal 2025, including iPhone 17, iPhone Air, iPhone 17 Pro/Pro Max, Apple Watch Series 11 and iOS 26. The company also refreshed MacBook Pro, Mac mini, iMac, MacBook Air, Mac Studio and multiple iPad models during the year, indicating a broad product transition across both premium and mainstream lines. These launches are likely drivers of product mix shifts cited elsewhere in the filing (e.g., higher iPhone Pro mix and higher Mac laptop/desktop sales). Continued cadence of hardware and OS releases underpins replacement demand and Services bundling (deferred services revenue amortization referenced elsewhere).

Key facts