AAPL · 10-K · 2026A

Apple Inc.

Filed 2026-11-03 · Technology · View original filing on EDGAR

Ranked Events

• Capital Return ProgramImportance 64 · Surprise 42
  In April 2026, Apple announced a share repurchase program of up to $100 billion and raised its quarterly dividend from $0.26 to $0.27 per share beginning in May 2026. During fiscal 2026, Apple repurchased $85.8 billion…
• iPhone Demand TrendsImportance 59 · Surprise 48
  iPhone net sales increased approximately 21% in fiscal 2026 compared with 2025, reaching $254.1 billion. Apple attributed the increase to higher net sales of Pro models. iPhone sales increased in each of the company’s…
• Services GrowthImportance 54 · Surprise 40
  Services net sales increased approximately 13% in fiscal 2026 compared with 2025, reaching $123.3 billion. Apple attributed the increase primarily to higher net sales from advertising and cloud services. Services also…
• Revenue Performance and MixImportance 54 · Surprise 40
  Fiscal 2026 net sales rose 15.1% to $478.834 billion from $416.161 billion in 2025. iPhone revenue increased 21.2% to $254.098 billion, Mac revenue rose 12.5% to $37.929 billion, and Services revenue grew 13.0% to…
• Manufacturing Purchase ObligationsImportance 49 · Surprise 6
  Apple had $89.7 billion of manufacturing purchase obligations as of September 26, 2026, of which $82.7 billion was payable within 12 months. The obligations support outsourcing partners that manufacture product…
• Liquidity and Cash PositionImportance 49 · Surprise 6
  As of September 26, 2026, Apple held $136.9 billion in cash, cash equivalents and marketable securities. The company stated that these balances, cash generated by ongoing operations, and continued access to debt…
• Mac Product DemandImportance 48 · Surprise 40
  Mac net sales increased approximately 13% in fiscal 2026 compared with 2025, reaching $37.9 billion. Apple attributed the increase primarily to higher laptop sales. Mac also contributed to revenue growth in the…
• Gross Margin DriversImportance 48 · Surprise 40
  Fiscal 2026 total gross margin increased to $233.602 billion from $195.201 billion, and gross margin percentage rose to 48.8% from 46.9%. Products gross margin increased to $139.659 billion from $112.887 billion, with…
• Operating Expense TrendsImportance 47 · Surprise 48
  Fiscal 2026 operating expenses increased 21.5% to $75.539 billion from $62.151 billion. Research and development expense rose 32.5% to $45.765 billion, primarily because of higher infrastructure-related costs,…
• Geographic Revenue ShiftImportance 47 · Surprise 48
  Net sales increased across the Americas, Europe, Greater China, Japan, and Rest of Asia Pacific in fiscal 2026 compared with 2025. Greater China grew approximately 28%, Rest of Asia Pacific 18%, Europe 15%, and the…
• Other Purchase ObligationsImportance 43 · Surprise 6
  Other purchase obligations totaled $27.3 billion as of September 26, 2026, with $9.9 billion payable within 12 months. They primarily covered noncancelable supplier arrangements, licensed content and intellectual…
• Tariffs and Other MeasuresImportance 40 · Surprise 42
  Beginning in the second quarter of 2025, the U.S. announced new import tariffs, including additional tariffs on goods from China mainland, India, Japan, South Korea, Taiwan, Vietnam and the EU, and several countries…
• Outstanding IndebtednessImportance 37 · Surprise 6
  At September 26, 2026, Apple had $78.7 billion of outstanding fixed-rate notes, including $10.0 billion payable within 12 months. Future interest payments on the notes totaled $34.4 billion, of which $2.4 billion was…
• Product Launch and TransitionImportance 34 · Surprise 42
  Apple announced the iPhone Duo, iPhone 18 Pro Max, and iPhone 18 Pro in the fourth quarter of fiscal 2026, following the iPhone 17e in the second quarter. Other announcements included MacBook Neo, updated MacBook Air…
• Supply Chain ConstraintsImportance 26 · Surprise 24
  Apple reported supply constraints and rising costs driven by industry-wide supply-demand imbalances for advanced semiconductors, memory, and storage. The company expects these trends to intensify for memory and storage…
• Occupancy and Leasing ActivityImportance 25 · Surprise 6
  Apple reported $17.8 billion of fixed lease payment obligations as of September 26, 2026, with $2.8 billion payable within 12 months. Lease arrangements covered equipment and facilities, including corporate, data…
• Income Tax Rate ChangesImportance null · Surprise 48
  Apple’s fiscal 2026 income tax provision increased to $27.062 billion from $20.719 billion in 2025. The effective tax rate increased to 17.0% from 15.6%, a rise of 1.4 percentage points. The higher rate primarily…

Revenue by Product (in millions)

Revenue by Geography (in millions)