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1、UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington,D.C.20549FORM 10-Q(Mark One)QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended December30,2023or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT
2、 OF 1934For the transition period from to.Commission File Number:001-36743Apple Inc.(Exact name of Registrant as specified in its charter)California94-2404110(State or other jurisdictionof incorporation or organization)(I.R.S.Employer Identification No.)One Apple Park WayCupertino,California95014(Ad
3、dress of principal executive offices)(Zip Code)(408)996-1010(Registrants telephone number,including area code)Securities registered pursuant to Section 12(b)of the Act:Title of each classTrading symbol(s)Name of each exchange on which registeredCommon Stock,$0.00001 par value per shareAAPLThe Nasdaq
4、 Stock Market LLC0.000%Notes due 2025The Nasdaq Stock Market LLC0.875%Notes due 2025The Nasdaq Stock Market LLC1.625%Notes due 2026The Nasdaq Stock Market LLC2.000%Notes due 2027The Nasdaq Stock Market LLC1.375%Notes due 2029The Nasdaq Stock Market LLC3.050%Notes due 2029The Nasdaq Stock Market LLC0
5、.500%Notes due 2031The Nasdaq Stock Market LLC3.600%Notes due 2042The Nasdaq Stock Market LLCIndicate by check mark whether the Registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months(or for such shorter peri
6、od that the Registrant was required to file such reports),and(2)has been subject to such filing requirements for the past 90 days.YesNoIndicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-
7、T(232.405 of this chapter)during the preceding 12 months(or for such shorter period that the Registrant was required to submit such files).YesNoIndicate by check mark whether the Registrant is a large accelerated filer,an accelerated filer,a non-accelerated filer,a smaller reporting company,or an em
8、erging growth company.See the definitions of“large accelerated filer,”“accelerated filer,”“smaller reporting company,”and“emerging growth company”in Rule 12b-2 of the Exchange Act.Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth companyIf an emerg
9、ing growth company,indicate by check mark 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.Indicate by check mark whether the Registrant is a shell compan
10、y(as defined in Rule 12b-2 of the Exchange Act).YesNo15,441,881,000 shares of common stock were issued and outstanding as of January19,2024.Apple Inc.Form 10-QFor the Fiscal Quarter Ended December30,2023 TABLE OF CONTENTSPagePart IItem 1.Financial Statements1Item 2.Managements Discussion and Analysi
11、s of Financial Condition and Results of Operations13Item 3.Quantitative and Qualitative Disclosures About Market Risk18Item 4.Controls and Procedures18Part IIItem 1.Legal Proceedings19Item 1A.Risk Factors19Item 2.Unregistered Sales of Equity Securities and Use of Proceeds20Item 3.Defaults Upon Senio
12、r Securities21Item 4.Mine Safety Disclosures21Item 5.Other Information21Item 6.Exhibits21PART I FINANCIAL INFORMATIONItem 1.Financial StatementsApple Inc.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)(In millions,except number of shares,which are reflected in thousands,and per-share amou
13、nts)Three Months EndedDecember 30,2023December 31,2022Net sales:Products$96,458$96,388 Services 23,117 20,766 Total net sales 119,575 117,154 Cost of sales:Products 58,440 60,765 Services 6,280 6,057 Total cost of sales 64,720 66,822 Gross margin 54,855 50,332 Operating expenses:Research and develop
14、ment 7,696 7,709 Selling,general and administrative 6,786 6,607 Total operating expenses 14,482 14,316 Operating income 40,373 36,016 Other income/(expense),net(50)(393)Income before provision for income taxes 40,323 35,623 Provision for income taxes 6,407 5,625 Net income$33,916$29,998 Earnings per
15、 share:Basic$2.19$1.89 Diluted$2.18$1.88 Shares used in computing earnings per share:Basic 15,509,763 15,892,723 Diluted 15,576,641 15,955,718 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q1 2024 Form 10-Q|1Apple Inc.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENS
16、IVE INCOME(Unaudited)(In millions)Three Months EndedDecember 30,2023December 31,2022Net income$33,916$29,998 Other comprehensive income/(loss):Change in foreign currency translation,net of tax 308 (14)Change in unrealized gains/losses on derivative instruments,net of tax:Change in fair value of deri
17、vative instruments(531)(988)Adjustment for net(gains)/losses realized and included in net income(823)(1,766)Total change in unrealized gains/losses on derivative instruments(1,354)(2,754)Change in unrealized gains/losses on marketable debt securities,net of tax:Change in fair value of marketable deb
18、t securities 3,045 900 Adjustment for net(gains)/losses realized and included in net income 75 65 Total change in unrealized gains/losses on marketable debt securities 3,120 965 Total other comprehensive income/(loss)2,074 (1,803)Total comprehensive income$35,990$28,195 See accompanying Notes to Con
19、densed Consolidated Financial Statements.Apple Inc.|Q1 2024 Form 10-Q|2Apple Inc.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(In millions,except number of shares,which are reflected in thousands,and par value)December 30,2023September 30,2023ASSETS:Current assets:Cash and cash equivalents$40,760
20、$29,965 Marketable securities 32,340 31,590 Accounts receivable,net 23,194 29,508 Vendor non-trade receivables 26,908 31,477 Inventories 6,511 6,331 Other current assets 13,979 14,695 Total current assets 143,692 143,566 Non-current assets:Marketable securities 99,475 100,544 Property,plant and equi
21、pment,net 43,666 43,715 Other non-current assets 66,681 64,758 Total non-current assets 209,822 209,017 Total assets$353,514$352,583 LIABILITIES AND SHAREHOLDERS EQUITY:Current liabilities:Accounts payable$58,146$62,611 Other current liabilities 54,611 58,829 Deferred revenue 8,264 8,061 Commercial
22、paper 1,998 5,985 Term debt 10,954 9,822 Total current liabilities 133,973 145,308 Non-current liabilities:Term debt 95,088 95,281 Other non-current liabilities 50,353 49,848 Total non-current liabilities 145,441 145,129 Total liabilities 279,414 290,437 Commitments and contingenciesShareholders equ
23、ity:Common stock and additional paid-in capital,$0.00001 par value:50,400,000 shares authorized;15,460,223 and 15,550,061 shares issued and outstanding,respectively 75,236 73,812 Retained earnings/(Accumulated deficit)8,242 (214)Accumulated other comprehensive loss(9,378)(11,452)Total shareholders e
24、quity 74,100 62,146 Total liabilities and shareholders equity$353,514$352,583 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q1 2024 Form 10-Q|3Apple Inc.CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY(Unaudited)(In millions,except per-share amounts)Three M
25、onths EndedDecember 30,2023December 31,2022Total shareholders equity,beginning balances$62,146$50,672 Common stock and additional paid-in capital:Beginning balances 73,812 64,849 Common stock withheld related to net share settlement of equity awards(1,660)(1,434)Share-based compensation 3,084 2,984
26、Ending balances 75,236 66,399 Retained earnings/(Accumulated deficit):Beginning balances(214)(3,068)Net income 33,916 29,998 Dividends and dividend equivalents declared(3,774)(3,712)Common stock withheld related to net share settlement of equity awards(1,018)(978)Common stock repurchased(20,668)(19,
27、000)Ending balances 8,242 3,240 Accumulated other comprehensive income/(loss):Beginning balances(11,452)(11,109)Other comprehensive income/(loss)2,074 (1,803)Ending balances(9,378)(12,912)Total shareholders equity,ending balances$74,100$56,727 Dividends and dividend equivalents declared per share or
28、 RSU$0.24$0.23 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q1 2024 Form 10-Q|4Apple Inc.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In millions)Three Months EndedDecember 30,2023December 31,2022Cash,cash equivalents and restricted cash,beginning ba
29、lances$30,737$24,977 Operating activities:Net income 33,916 29,998 Adjustments to reconcile net income to cash generated by operating activities:Depreciation and amortization 2,848 2,916 Share-based compensation expense 2,997 2,905 Other(989)(317)Changes in operating assets and liabilities:Accounts
30、receivable,net 6,555 4,275 Vendor non-trade receivables 4,569 2,320 Inventories(137)(1,807)Other current and non-current assets(1,457)(4,099)Accounts payable(4,542)(6,075)Other current and non-current liabilities(3,865)3,889 Cash generated by operating activities 39,895 34,005 Investing activities:P
31、urchases of marketable securities(9,780)(5,153)Proceeds from maturities of marketable securities 13,046 7,127 Proceeds from sales of marketable securities 1,337 509 Payments for acquisition of property,plant and equipment(2,392)(3,787)Other(284)(141)Cash generated by/(used in)investing activities 1,
32、927 (1,445)Financing activities:Payments for taxes related to net share settlement of equity awards(2,591)(2,316)Payments for dividends and dividend equivalents(3,825)(3,768)Repurchases of common stock(20,139)(19,475)Repayments of term debt (1,401)Repayments of commercial paper,net(3,984)(8,214)Othe
33、r(46)(389)Cash used in financing activities(30,585)(35,563)Increase/(Decrease)in cash,cash equivalents and restricted cash 11,237 (3,003)Cash,cash equivalents and restricted cash,ending balances$41,974$21,974 Supplemental cash flow disclosure:Cash paid for income taxes,net$7,255$828 See accompanying
34、 Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q1 2024 Form 10-Q|5Apple Inc.Notes to Condensed Consolidated Financial Statements(Unaudited)Note 1 Summary of Significant Accounting PoliciesBasis of Presentation and PreparationThe condensed consolidated financial statements include t
35、he accounts of Apple Inc.and its wholly owned subsidiaries(collectively“Apple”or the“Company”).In the opinion of the Companys management,the condensed consolidated financial statements reflect all adjustments,which are normal and recurring in nature,necessary for fair financial statement presentatio
36、n.The preparation of these condensed consolidated financial statements and accompanying notes in conformity with U.S.generally accepted accounting principles(“GAAP”)requires the use of management estimates.Certain prior period amounts in the condensed consolidated financial statements and accompanyi
37、ng notes have been reclassified to conform to the current periods presentation.These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Companys annual consolidated financial statements and accompanying notes included in its Annual Report on For
38、m 10-K for the fiscal year ended September30,2023(the“2023 Form 10-K”).The Companys fiscal year is the 52-or 53-week period that ends on the last Saturday of September.An additional week is included in the first fiscal quarter every five or six years to realign the Companys fiscal quarters with cale
39、ndar quarters,which occurred in the first fiscal quarter of 2023.The Companys fiscal years 2024 and 2023 span 52 and 53 weeks,respectively.Unless otherwise stated,references to particular years,quarters,months and periods refer to the Companys fiscal years ended in September and the associated quart
40、ers,months and periods of those fiscal years.Note 2 RevenueNet sales disaggregated by significant products and services for the three months ended December 30,2023 and December31,2022 were as follows(in millions):Three Months EndedDecember 30,2023December 31,2022iPhone$69,702$65,775 Mac 7,780 7,735
41、iPad 7,023 9,396 Wearables,Home and Accessories 11,953 13,482 Services 23,117 20,766 Total net sales$119,575$117,154 Total net sales include$3.5 billion of revenue recognized in the three months ended December30,2023 that was included in deferred revenue as of September30,2023 and$3.4 billion of rev
42、enue recognized in the three months ended December31,2022 that was included in deferred revenue as of September24,2022.The Companys proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 10,“Segment Information and Geographic Data”for the
43、 three months ended December 30,2023 and December31,2022,except in Greater China,where iPhone revenue represented a moderately higher proportion of net sales.As of December30,2023 and September30,2023,the Company had total deferred revenue of$12.5 billion and$12.1billion,respectively.As of December3
44、0,2023,the Company expects 66%of total deferred revenue to be realized in less than a year,26%within one-to-two years,7%within two-to-three years and 1%in greater than three years.Apple Inc.|Q1 2024 Form 10-Q|6Note 3 Earnings Per ShareThe following table shows the computation of basic and diluted ea
45、rnings per share for the three months ended December 30,2023 and December 31,2022(net income in millions and shares in thousands):Three Months EndedDecember 30,2023December 31,2022Numerator:Net income$33,916$29,998 Denominator:Weighted-average basic shares outstanding 15,509,763 15,892,723 Effect of
46、 dilutive share-based awards 66,878 62,995 Weighted-average diluted shares 15,576,641 15,955,718 Basic earnings per share$2.19$1.89 Diluted earnings per share$2.18$1.88 Approximately 89million restricted stock units(“RSUs”)were excluded from the computation of diluted earnings per share for the thre
47、e months ended December31,2022 because their effect would have been antidilutive.Note 4 Financial InstrumentsCash,Cash Equivalents and Marketable SecuritiesThe following tables show the Companys cash,cash equivalents and marketable securities by significant investment category as of December30,2023
48、and September30,2023(in millions):December 30,2023AdjustedCostUnrealizedGainsUnrealizedLossesFairValueCash andCashEquivalentsCurrentMarketableSecuritiesNon-CurrentMarketableSecuritiesCash$29,542$29,542$29,542$Level 1:Money market funds 2,000 2,000 2,000 Mutual funds 448 35 (11)472 472 Subtotal 2,448
49、 35 (11)2,472 2,000 472 Level 2(1):U.S.Treasury securities 24,041 12 (920)23,133 7,303 4,858 10,972 U.S.agency securities 5,791 (448)5,343 243 98 5,002 Non-U.S.government securities 17,326 54 (675)16,705 11,175 5,530 Certificates of deposit and time deposits 1,448 1,448 1,119 329 Commercial paper 1,
50、361 1,361 472 889 Corporate debt securities 75,360 112 (3,964)71,508 81 13,909 57,518 Municipal securities 562 (14)548 185 363 Mortgage-and asset-backed securities 22,369 53 (1,907)20,515 425 20,090 Subtotal 148,258 231 (7,928)140,561 9,218 31,868 99,475 Total(2)$180,248$266$(7,939)$172,575$40,760$3
51、2,340$99,475 Apple Inc.|Q1 2024 Form 10-Q|7September 30,2023AdjustedCostUnrealizedGainsUnrealizedLossesFairValueCash andCashEquivalentsCurrentMarketableSecuritiesNon-CurrentMarketableSecuritiesCash$28,359$28,359$28,359$Level 1:Money market funds 481 481 481 Mutual funds and equity securities 442 12
52、(26)428 428 Subtotal 923 12 (26)909 481 428 Level 2(1):U.S.Treasury securities 19,406 (1,292)18,114 35 5,468 12,611 U.S.agency securities 5,736 (600)5,136 36 271 4,829 Non-U.S.government securities 17,533 6 (1,048)16,491 11,332 5,159 Certificates of deposit and time deposits 1,354 1,354 1,034 320 Co
53、mmercial paper 608 608 608 Corporate debt securities 76,840 6 (5,956)70,890 20 12,627 58,243 Municipal securities 628 (26)602 192 410 Mortgage-and asset-backed securities 22,365 6 (2,735)19,636 344 19,292 Subtotal 144,470 18 (11,657)132,831 1,125 31,162 100,544 Total(2)$173,752$30$(11,683)$162,099$2
54、9,965$31,590$100,544(1)The valuation techniques used to measure the fair values of the Companys Level 2 financial instruments,which generally have counterparties with high credit ratings,are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborate
55、d by observable market data.(2)As of December30,2023 and September30,2023,total marketable securities included$13.9billion and$13.8 billion,respectively,that were restricted from general use,related to the European Commission decision finding that Ireland granted state aid to the Company,and other a
56、greements.The following table shows the fair value of the Companys non-current marketable debt securities,by contractual maturity,as of December30,2023(in millions):Due after 1 year through 5 years$72,994 Due after 5 years through 10 years 9,368 Due after 10 years 17,113 Total fair value$99,475 Deri
57、vative Instruments and HedgingThe Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk.However,the Company may choose not to hedge certain exposures for a variety of reasons,including accounting considerations or the prohibitive
58、economic cost of hedging particular exposures.There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign exchange or interest rates.Foreign Exchange Rate RiskTo protect gross margins from fluctuations in foreign exchange rates,the
59、 Company may use forwards,options or other instruments,and may designate these instruments as cash flow hedges.The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases,typically for up to 12 months.To protect the Companys forei
60、gn currencydenominated term debt or marketable securities from fluctuations in foreign exchange rates,the Company may use forwards,cross-currency swaps or other instruments.The Company designates these instruments as either cash flow or fair value hedges.As of December30,2023,the maximum length of t
61、ime over which the Company is hedging its exposure to the variability in future cash flows for term debtrelated foreign currency transactions is 19 years.The Company may also use derivative instruments that are not designated as accounting hedges to protect gross margins from certain fluctuations in
62、 foreign exchange rates,as well as to offset a portion of the foreign currency gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies.Apple Inc.|Q1 2024 Form 10-Q|8Interest Rate RiskTo protect the Companys term debt or marketable se
63、curities from fluctuations in interest rates,the Company may use interest rate swaps,options or other instruments.The Company designates these instruments as either cash flow or fair value hedges.The notional amounts of the Companys outstanding derivative instruments as of December30,2023 and Septem
64、ber30,2023 were as follows(in millions):December 30,2023September 30,2023Derivative instruments designated as accounting hedges:Foreign exchange contracts$66,735$74,730 Interest rate contracts$19,375$19,375 Derivative instruments not designated as accounting hedges:Foreign exchange contracts$102,108
65、$104,777 The carrying amounts of the Companys hedged items in fair value hedges as of December30,2023 and September30,2023 were as follows(in millions):December 30,2023September 30,2023Hedged assets/(liabilities):Current and non-current marketable securities$15,102$14,433 Current and non-current ter
66、m debt$(18,661)$(18,247)Accounts ReceivableTrade ReceivablesThe Companys third-party cellular network carriers accounted for 34%and 41%of total trade receivables as of December30,2023 and September 30,2023,respectively.The Company requires third-party credit support or collateral from certain custom
67、ers to limit credit risk.Vendor Non-Trade ReceivablesThe Company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture subassemblies or assemble final products for the Company.The Company purchases these components
68、directly from suppliers.The Company does not reflect the sale of these components in products net sales.Rather,the Company recognizes any gain on these sales as a reduction of products cost of sales when the related final products are sold by the Company.As of December30,2023,the Company had two ven
69、dors that individually represented 10%or more of total vendor non-trade receivables,which accounted for 50%and 20%.As of September30,2023,the Company had two vendors that individually represented 10%or more of total vendor non-trade receivables,which accounted for 48%and 23%.Note 5 Condensed Consoli
70、dated Financial Statement DetailsThe following table shows the Companys condensed consolidated financial statement details as of December30,2023 and September30,2023(in millions):Property,Plant and Equipment,NetDecember 30,2023September 30,2023Gross property,plant and equipment$116,176$114,599 Accum
71、ulated depreciation(72,510)(70,884)Total property,plant and equipment,net$43,666$43,715 Apple Inc.|Q1 2024 Form 10-Q|9Note 6 DebtCommercial PaperThe Company issues unsecured short-term promissory notes pursuant to a commercial paper program.The Company uses net proceeds from the commercial paper pro
72、gram for general corporate purposes,including dividends and share repurchases.As of December30,2023 and September30,2023,the Company had$2.0 billion and$6.0 billion of commercial paper outstanding,respectively.The following table provides a summary of cash flows associated with the issuance and matu
73、rities of commercial paper for the three months ended December30,2023 and December31,2022(in millions):Three Months EndedDecember 30,2023December 31,2022Maturities 90 days or less:Repayments of commercial paper,net$(3,984)$(5,569)Maturities greater than 90 days:Repayments of commercial paper (2,645)
74、Total repayments of commercial paper,net$(3,984)$(8,214)Term DebtAs of December30,2023 and September30,2023,the Company had outstanding fixed-rate notes with varying maturities for an aggregate carrying amount of$106.0 billion and$105.1 billion,respectively(collectively the“Notes”).As of December30,
75、2023 and September30,2023,the fair value of the Companys Notes,based on Level 2 inputs,was$96.7 billion and$90.8 billion,respectively.Note 7 Shareholders EquityShare Repurchase ProgramDuring the three months ended December30,2023,the Company repurchased 118 million shares of its common stock for$20.
76、5 billion.The Companys share repurchase program does not obligate the Company to acquire a minimum amount of shares.Under the program,shares may be repurchased in privately negotiated or open market transactions,including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 19
77、34,as amended(the“Exchange Act”).Note 8 Share-Based CompensationRestricted Stock UnitsA summary of the Companys RSU activity and related information for the three months ended December30,2023 is as follows:Number ofRSUs(in thousands)Weighted-AverageGrant Date FairValue Per RSUAggregateFair Value(in
78、millions)Balance as of September 30,2023 180,247$135.91 RSUs granted 74,241$171.58 RSUs vested(42,490)$110.75 RSUs canceled(3,026)$109.05 Balance as of December 30,2023 208,972$154.09$40,233 The fair value as of the respective vesting dates of RSUs was$7.7 billion and$6.8 billion for the three month
79、s ended December 30,2023 and December31,2022,respectively.Apple Inc.|Q1 2024 Form 10-Q|10Share-Based CompensationThe following table shows share-based compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three months ended De
80、cember 30,2023 and December 31,2022(in millions):Three Months EndedDecember 30,2023December 31,2022Share-based compensation expense$2,997$2,905 Income tax benefit related to share-based compensation expense$(1,235)$(1,178)As of December30,2023,the total unrecognized compensation cost related to outs
81、tanding RSUs was$27.4 billion,which the Company expects to recognize over a weighted-average period of 2.9 years.Note 9 ContingenciesThe Company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and that have not been fully resolved.The outcome of
82、 litigation is inherently uncertain.In the opinion of management,there was not at least a reasonable possibility the Company may have incurred a material loss,or a material loss greater than a recorded accrual,concerning loss contingencies for asserted legal and other claims.Note 10 Segment Informat
83、ion and Geographic DataThe following table shows information by reportable segment for the three months ended December 30,2023 and December 31,2022(in millions):Three Months EndedDecember 30,2023December 31,2022Americas:Net sales$50,430$49,278 Operating income$20,357$17,864 Europe:Net sales$30,397$2
84、7,681 Operating income$12,711$10,017 Greater China:Net sales$20,819$23,905 Operating income$8,622$10,437 Japan:Net sales$7,767$6,755 Operating income$3,819$3,236 Rest of Asia Pacific:Net sales$10,162$9,535 Operating income$4,579$3,851 Apple Inc.|Q1 2024 Form 10-Q|11A reconciliation of the Companys s
85、egment operating income to the Condensed Consolidated Statements of Operations for the three months ended December 30,2023 and December 31,2022 is as follows(in millions):Three Months EndedDecember 30,2023December 31,2022Segment operating income$50,088$45,405 Research and development expense(7,696)(
86、7,709)Other corporate expenses,net(2,019)(1,680)Total operating income$40,373$36,016 Apple Inc.|Q1 2024 Form 10-Q|12Item 2.Managements Discussion and Analysis of Financial Condition and Results of OperationsThis Item and other sections of this Quarterly Report on Form 10-Q(“Form 10-Q”)contain forwar
87、d-looking statements,within the meaning of the Private Securities Litigation Reform Act of 1995,that involve risks and uncertainties.Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any hi
88、storical or current fact.For example,statements in this Form 10-Q regarding the potential future impact of macroeconomic conditions on the Companys business and results of operations are forward-looking statements.Forward-looking statements can also be identified by words such as“future,”“anticipate
89、s,”“believes,”“estimates,”“expects,”“intends,”“plans,”“predicts,”“will,”“would,”“could,”“can,”“may,”and similar terms.Forward-looking statements are not guarantees of future performance and the Companys actual results may differ significantly from the results discussed in the forward-looking stateme
90、nts.Factors that might cause such differences include,but are not limited to,those discussed in Part I,Item 1A of the 2023 Form 10-K under the heading“Risk Factors.”The Company assumes no obligation to revise or update any forward-looking statements for any reason,except as required by law.Unless ot
91、herwise stated,all information presented herein is based on the Companys fiscal calendar,and references to particular years,quarters,months or periods refer to the Companys fiscal years ended in September and the associated quarters,months and periods of those fiscal years.The following discussion s
92、hould be read in conjunction with the 2023 Form 10-K filed with the U.S.Securities and Exchange Commission(the“SEC”)and the condensed consolidated financial statements and accompanying notes included in Part I,Item 1 of this Form 10-Q.Available InformationThe Company periodically provides certain in
93、formation for investors on its corporate website,and its investor relations website,.This includes press releases and other information about financial performance,information on environmental,social and governance matters,and details related to the Companys annual meeting of shareholders.The inform
94、ation contained on the websites referenced in this Form 10-Q is not incorporated by reference into this filing.Further,the Companys references to website URLs are intended to be inactive textual references only.Business Seasonality and Product IntroductionsThe Company has historically experienced hi
95、gher 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 service introductions can significantly impact net sales,cost of sales and operating expenses.The timing of product introductions can also impact the
96、Companys net sales to its indirect distribution channels as these channels are filled with new inventory following a product launch,and channel inventory of an older product often declines as the launch of a newer product approaches.Net sales can also be affected when consumers and distributors anti
97、cipate a product introduction.Fiscal PeriodThe Companys fiscal year is the 52-or 53-week period that ends on the last Saturday of September.An additional week is included in the first fiscal quarter every five or six years to realign the Companys fiscal quarters with calendar quarters,which occurred
98、 in the first quarter of 2023.The Companys fiscal years 2024 and 2023 span 52 and 53 weeks,respectively.Quarterly HighlightsThe Companys first quarter of 2024 included 13 weeks,compared to 14 weeks during the first quarter of 2023.The Companys total net sales increased 2%or$2.4 billion during the fi
99、rst quarter of 2024 compared to the same quarter in 2023,driven primarily by higher net sales of iPhone and Services,partially offset by lower net sales of iPad and Wearables,Home and Accessories.During the first quarter of 2024,the Company announced an updated MacBook Pro 14-in.,MacBook Pro 16-in.a
100、nd iMac.The Company repurchased$20.5 billion of its common stock and paid dividends and dividend equivalents of$3.8 billion during the first quarter of 2024.Macroeconomic ConditionsMacroeconomic conditions,including inflation,changes in interest rates,and currency fluctuations,have directly and indi
101、rectly impacted,and could in the future materially impact,the Companys results of operations and financial condition.Apple Inc.|Q1 2024 Form 10-Q|13Segment Operating PerformanceThe following table shows net sales by reportable segment for the three months ended December 30,2023 and December31,2022(d
102、ollars in millions):Three Months EndedDecember 30,2023December 31,2022ChangeNet sales by reportable segment:Americas$50,430$49,278 2%Europe 30,397 27,681 10%Greater China 20,819 23,905 (13)%Japan 7,767 6,755 15%Rest of Asia Pacific 10,162 9,535 7%Total net sales$119,575$117,154 2%AmericasAmericas ne
103、t sales increased 2%or$1.2 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to higher net sales of Services and iPhone,partially offset by lower net sales of iPad.The strength in foreign currencies relative to the U.S.dollar had a net favorable year-over-ye
104、ar impact on Americas net sales during the first quarter of 2024.EuropeEurope net sales increased 10%or$2.7 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to higher net sales of iPhone.The strength in foreign currencies relative to the U.S.dollar had a ne
105、t favorable year-over-year impact on Europe net sales during the first quarter of 2024.Greater ChinaGreater China net sales decreased 13%or$3.1 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to lower net sales of iPhone,iPad and Wearables,Home and Accesso
106、ries.The weakness in the renminbi relative to the U.S.dollar had an unfavorable year-over-year impact on Greater China net sales during the first quarter of 2024.JapanJapan net sales increased 15%or$1.0 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to hi
107、gher net sales of iPhone.The weakness in the yen relative to the U.S.dollar had an unfavorable year-over-year impact on Japan net sales during the first quarter of 2024.Rest of Asia PacificRest of Asia Pacific net sales increased 7%or$627 million during the first quarter of 2024 compared to the same
108、 quarter in 2023 due primarily to higher net sales of iPhone,partially offset by lower net sales of Wearables,Home and Accessories.Apple Inc.|Q1 2024 Form 10-Q|14Products and Services PerformanceThe following table shows net sales by category for the three months ended December 30,2023 and December3
109、1,2022(dollars in millions):Three Months EndedDecember 30,2023December 31,2022ChangeNet sales by category:iPhone$69,702$65,775 6%Mac 7,780 7,735 1%iPad 7,023 9,396 (25)%Wearables,Home and Accessories 11,953 13,482 (11)%Services 23,117 20,766 11%Total net sales$119,575$117,154 2%iPhoneiPhone net sale
110、s increased 6%or$3.9 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to higher net sales of Pro models,partially offset by lower net sales of other models.MacMac net sales were relatively flat during the first quarter of 2024 compared to the same quarter i
111、n 2023.iPadiPad net sales decreased 25%or$2.4 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to lower net sales of iPad Pro,iPad 9th generation and iPad Air.Wearables,Home and AccessoriesWearables,Home and Accessories net sales decreased 11%or$1.5 billion
112、 during the first quarter of 2024 compared to the same quarter in 2023 due primarily to lower net sales of Wearables and Accessories.ServicesServices net sales increased 11%or$2.4 billion during the first quarter of 2024 compared to the same quarter in 2023 due primarily to higher net sales from adv
113、ertising,video and cloud services.Apple Inc.|Q1 2024 Form 10-Q|15Gross MarginProducts and Services gross margin and gross margin percentage for the three months ended December 30,2023 and December31,2022 were as follows(dollars in millions):Three Months EndedDecember 30,2023December 31,2022Gross mar
114、gin:Products$38,018$35,623 Services 16,837 14,709 Total gross margin$54,855$50,332 Gross margin percentage:Products 39.4%37.0%Services 72.8%70.8%Total gross margin percentage 45.9%43.0%Products Gross MarginProducts gross margin increased during the first quarter of 2024 compared to the same quarter
115、in 2023 due primarily to cost savings and a different Products mix,partially offset by the weakness in foreign currencies relative to the U.S.dollar and lower Products volume.Products gross margin percentage increased during the first quarter of 2024 compared to the same quarter in 2023 due primaril
116、y to cost savings and a different Products mix,partially offset by the weakness in foreign currencies relative to the U.S.dollar.Services Gross MarginServices gross margin increased during the first quarter of 2024 compared to the same quarter in 2023 due primarily to higher Services net sales and a
117、 different Services mix.Services gross margin percentage increased during the first quarter of 2024 compared to the same quarter in 2023 due primarily to a different Services mix.The Companys future gross margins can be impacted by a variety of factors,as discussed in Part I,Item 1A of the 2023 Form
118、 10-K under the heading“Risk Factors.”As a result,the Company believes,in general,gross margins will be subject to volatility and downward pressure.Apple Inc.|Q1 2024 Form 10-Q|16Operating ExpensesOperating expenses for the three months ended December 30,2023 and December 31,2022 were as follows(dol
119、lars in millions):Three Months EndedDecember 30,2023December 31,2022Research and development$7,696$7,709 Percentage of total net sales 6%7%Selling,general and administrative$6,786$6,607 Percentage of total net sales 6%6%Total operating expenses$14,482$14,316 Percentage of total net sales 12%12%Resea
120、rch and DevelopmentResearch and development(“R&D”)expense was relatively flat during the first quarter of 2024 compared to the same quarter in 2023.Selling,General and AdministrativeSelling,general and administrative expense increased 3%or$179 million during the first quarter of 2024 compared to the
121、 same quarter in 2023.Provision for Income TaxesProvision for income taxes,effective tax rate and statutory federal income tax rate for the three months ended December 30,2023 and December31,2022 were as follows(dollars in millions):Three Months EndedDecember 30,2023December 31,2022Provision for inc
122、ome taxes$6,407$5,625 Effective tax rate 15.9%15.8%Statutory federal income tax rate 21%21%The Companys effective tax rate for the first quarter of 2024 was lower than the statutory federal income tax rate due primarily to a lower effective tax rate on foreign earnings,tax benefits from share-based
123、compensation,and the impact of the U.S.federal R&D credit,partially offset by state income taxes.The Companys effective tax rate for the first quarter of 2024 was relatively flat compared to the same quarter in 2023.Liquidity and Capital ResourcesThe Company believes its balances of cash,cash equiva
124、lents and unrestricted marketable securities,along with cash generated by ongoing operations and continued access to debt markets,will be sufficient to satisfy its cash requirements and capital return program over the next 12 months and beyond.The Companys contractual cash requirements have not chan
125、ged materially since the 2023 Form 10-K,except for manufacturing purchase obligations.Manufacturing Purchase ObligationsThe Company utilizes several outsourcing partners to manufacture subassemblies for the Companys products and to perform final assembly and testing of finished products.The Company
126、also obtains individual components for its products from a wide variety of individual suppliers.As of December30,2023,the Company had manufacturing purchase obligations of$38.0 billion,with$37.9 billion payable within 12 months.Apple Inc.|Q1 2024 Form 10-Q|17Capital Return ProgramIn addition to its
127、contractual cash requirements,the Company has an authorized share repurchase program.The program does not obligate the Company to acquire a minimum amount of shares.As of December30,2023,the Companys quarterly cash dividend was$0.24 per share.The Company intends to increase its dividend on an annual
128、 basis,subject to declaration by the Board of Directors.Recent Accounting PronouncementsIncome TaxesIn December 2023,the Financial Accounting Standards Board(the“FASB”)issued Accounting Standards Update(“ASU”)No.2023-09,Income Taxes(Topic 740):Improvements to Income Tax Disclosures(“ASU 2023-09”),wh
129、ich will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold.ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by fe
130、deral,state and foreign taxes,with further disaggregation required for significant individual jurisdictions.The Company will adopt ASU 2023-09 in its fourth quarter of 2026.ASU 2023-09 allows for adoption using either a prospective or retrospective transition method.Segment ReportingIn November 2023
131、,the FASB issued ASU No.2023-07,Segment Reporting(Topic 280):Improvements to Reportable Segment Disclosures(“ASU 2023-07”),which will require the Company to disclose segment expenses that are significant and regularly provided to the Companys chief operating decision maker(“CODM”).In addition,ASU 20
132、23-07 will require the Company to disclose the title and position of its CODM and how the CODM uses segment profit or loss information in assessing segment performance and deciding how to allocate resources.The Company will adopt ASU 2023-07 in its fourth quarter of 2025 using a retrospective transi
133、tion method.Critical Accounting EstimatesThe preparation of financial statements and related disclosures in conformity with GAAP and the Companys discussion and analysis of its financial condition and operating results require the Companys management to make judgments,assumptions and estimates that
134、affect the amounts reported.Note 1,“Summary of Significant Accounting Policies”of the Notes to Condensed Consolidated Financial Statements in Part I,Item 1 of this Form 10-Q and in the Notes to Consolidated Financial Statements in Part II,Item 8 of the 2023 Form 10-K describe the significant account
135、ing policies and methods used in the preparation of the Companys condensed consolidated financial statements.There have been no material changes to the Companys critical accounting estimates since the 2023 Form 10-K.Item 3.Quantitative and Qualitative Disclosures About Market RiskThere have been no
136、material changes to the Companys market risk during the first three months of 2024.For a discussion of the Companys exposure to market risk,refer to the Companys market risk disclosures set forth in Part II,Item 7A,“Quantitative and Qualitative Disclosures About Market Risk”of the 2023 Form 10-K.Ite
137、m 4.Controls and ProceduresEvaluation of Disclosure Controls and ProceduresBased on an evaluation under the supervision and with the participation of the Companys management,the Companys principal executive officer and principal financial officer have concluded that the Companys disclosure controls
138、and procedures as defined in Rules 13a-15(e)and 15d-15(e)under the Exchange Act were effective as of December30,2023 to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is(i)recorded,processed,summarized
139、and reported within the time periods specified in the SEC rules and forms and(ii)accumulated and communicated to the Companys management,including its principal executive officer and principal financial officer,as appropriate to allow timely decisions regarding required disclosure.Changes in Interna
140、l Control over Financial ReportingThere were no changes in the Companys internal control over financial reporting during the first quarter of 2024,which were identified in connection with managements evaluation required by paragraph(d)of Rules 13a-15 and 15d-15 under the Exchange Act,that have mater
141、ially affected,or are reasonably likely to materially affect,the Companys internal control over financial reporting.Apple Inc.|Q1 2024 Form 10-Q|18PART II OTHER INFORMATIONItem 1.Legal ProceedingsEpic GamesEpic Games,Inc.(“Epic”)filed a lawsuit in the U.S.District Court for the Northern District of
142、California(the“District Court”)against the Company alleging violations of federal and state antitrust laws and Californias unfair competition law based upon the Companys operation of its App Store.On September 10,2021,the District Court ruled in favor of the Company with respect to nine out of the t
143、en counts included in Epics claim.The District Court found that certain provisions of the Companys App Store Review Guidelines violate Californias unfair competition law and issued an injunction enjoining the Company from prohibiting developers from including in their apps external links that direct
144、 customers to purchasing mechanisms other than Apple in-app purchasing.The injunction applies to apps on the U.S.storefront of the iOS and iPadOS App Store.On April 24,2023,the U.S.Court of Appeals for the Ninth Circuit(the“Circuit Court”)affirmed the District Courts ruling.On June 7,2023,the Compan
145、y and Epic filed petitions with the Circuit Court requesting further review of the decision.On June 30,2023,the Circuit Court denied both petitions.On July 17,2023,the Circuit Court granted Apples motion to stay enforcement of the injunction pending appeal to the U.S.Supreme Court(the“Supreme Court”
146、).On January 16,2024,the Supreme Court denied both the Companys and Epics petitions and the stay terminated.The Supreme Courts denial of Epics petition confirms the District Courts ruling in favor of the Company with respect to all of the antitrust claims.Following termination of the stay,the Compan
147、y implemented a plan to comply with the injunction and filed a statement of compliance with the District Court.On January 31,2024,Epic filed a notice with the District Court indicating its intent to dispute the Companys compliance plan.MasimoMasimo Corporation and Cercacor Laboratories,Inc.(together
148、,“Masimo”)filed a complaint before the U.S.International Trade Commission(the“ITC”)alleging infringement by the Company of five patents relating to the functionality of the blood oxygen feature in Apple Watch Series 6 and 7.In its complaint,Masimo sought a permanent exclusion order prohibiting impor
149、tation to the U.S.of certain Apple Watch models that include blood oxygen sensing functionality.On October 26,2023,the ITC entered a limited exclusion order(the“Order”)prohibiting importation and sales in the U.S.of Apple Watch models with blood oxygen sensing functionality,which includes Apple Watc
150、h Series 9 and Apple Watch Ultra 2.The Company subsequently proposed a redesign of Apple Watch Series 9 and Apple Watch Ultra 2 to the U.S.Customs and Border Protection(the“CBP”)and appealed the Order.On January 12,2024,the CBP found that the Companys proposed redesign of Apple Watch Series 9 and Ap
151、ple Watch Ultra 2 falls outside the scope of the Order,permitting the Company to import and sell the models in the U.S.Other Legal ProceedingsThe Company is subject to other legal proceedings and claims that have not been fully resolved and that have arisen in the ordinary course of business.The Com
152、pany settled certain matters during the first quarter of 2024 that did not individually or in the aggregate have a material impact on the Companys financial condition or operating results.The outcome of litigation is inherently uncertain.If one or more legal matters were resolved against the Company
153、 in a reporting period for amounts above managements expectations,the Companys financial condition and operating results for that reporting period could be materially adversely affected.Item 1A.Risk FactorsThe Companys business,reputation,results of operations,financial condition and stock price can
154、 be affected by a number of factors,whether currently known or unknown,including those described in Part I,Item 1A of the 2023 Form 10-K under the heading“Risk Factors.”When any one or more of these risks materialize from time to time,the Companys business,reputation,results of operations,financial
155、condition and stock price can be materially and adversely affected.Except as set forth below,there have been no material changes to the Companys risk factors since the 2023 Form 10-K.The technology industry,including,in some instances,the Company,is subject to intense media,political and regulatory
156、scrutiny,which exposes the Company to increasing regulation,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 litigation,competition,market conditions and legal and regulatory requirements.The
157、Company expects to make further business changes in the future.For example,in the U.S.the Company has implemented changes to how developers communicate with consumers within apps on the U.S.storefront of the iOS and iPadOS App Store regarding alternative purchasing mechanisms.Apple Inc.|Q1 2024 Form
158、 10-Q|19In January 2024,the Company announced changes to iOS,the App Store and Safari in the European Union to comply with the Digital Markets Act(the“DMA”),including new business terms and alternative fee structures for iOS apps,alternative methods of distribution for iOS apps,alternative payment p
159、rocessing for apps across the Companys operating systems,and additional tools and application programming interfaces(“APIs”)for developers.Although the Companys compliance plan is intended to address the DMAs obligations,it is still subject to potential challenge by the European Commission or privat
160、e litigants.In addition,other jurisdictions may seek to require the Company to make changes to its business.While the changes introduced by the Company in the European Union are intended to reduce new privacy and security risks the DMA poses to European Union users,many risks will remain.The Company
161、 is also currently subject to antitrust investigations in various jurisdictions around the world,which can result in legal proceedings and claims against the Company that could,individually or in the aggregate,have a materially adverse impact on the Companys business,results of operations and financ
162、ial condition.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 Company,the Company could be exposed to significant fines and may be required to make furt
163、her changes to its App Store business,all of which could materially adversely affect the Companys business,results of operations and financial condition.Further,the Company has commercial relationships with other companies in the technology industry that are or may become subject to investigations a
164、nd litigation that,if resolved against those other companies,could materially adversely affect the Companys commercial relationships with those business partners and materially adversely affect the Companys business,results of operations and financial condition.For example,the Company earns revenue
165、from licensing arrangements with other companies to offer their search services on the Companys platforms and applications,and certain of these arrangements are currently subject to government investigations and legal proceedings.There can be no assurance the Companys business will not be materially
166、 adversely affected,individually or in the aggregate,by the outcomes of such investigations,litigation or changes to laws and regulations in the future.Changes to the Companys business practices to comply with new laws and regulations or in connection with other legal proceedings can negatively impa
167、ct the reputation of the Companys products for privacy and security and otherwise adversely affect the experience for users of the Companys products and services,and result in harm to the Companys reputation,loss of competitive advantage,poor market acceptance,reduced demand for products and service
168、s,and lost sales.Item 2.Unregistered Sales of Equity Securities and Use of ProceedsPurchases of Equity Securities by the Issuer and Affiliated PurchasersShare repurchase activity during the three months ended December30,2023 was as follows(in millions,except number of shares,which are reflected in t
169、housands,and per-share amounts):PeriodsTotal Numberof Shares PurchasedAverage PricePaid Per ShareTotal Number of SharesPurchased as Part of PubliclyAnnounced Plans or ProgramsApproximate Dollar Value ofShares That May Yet Be PurchasedUnder the Plans or Programs(1)October 1,2023 to November 4,2023:Au
170、gust 2023 ASRs 6,498(2)6,498 Open market and privately negotiated purchases 45,970$174.03 45,970 November 5,2023 to December 2,2023:Open market and privately negotiated purchases 33,797$187.14 33,797 December 3,2023 to December 30,2023:Open market and privately negotiated purchases 31,782$194.29 31,
171、782 Total 118,047$53,569(1)As of December30,2023,the Company was authorized by the Board of Directors to purchase up to$90 billion of the Companys common stock under a share repurchase program announced on May 4,2023,of which$36.4 billion had been utilized.The program does not obligate the Company t
172、o acquire a minimum amount of shares.Under the program,shares may be repurchased in privately negotiated or open market transactions,including under plans complying with Rule 10b5-1 under the Exchange Act.(2)In August 2023,the Company entered into accelerated share repurchase agreements(“ASRs”)to pu
173、rchase up to a total of$5.0 billion of the Companys common stock.In October 2023,the purchase periods for these ASRs ended and an additional 6 million shares were delivered and retired.In total,29 million shares were delivered under these ASRs at an average repurchase price of$174.93 per share.Apple
174、 Inc.|Q1 2024 Form 10-Q|20Item 3.Defaults Upon Senior SecuritiesNone.Item 4.Mine Safety DisclosuresNot applicable.Item 5.Other InformationInsider Trading ArrangementsOn November 11,2023 and November 27,2023,respectively,Luca Maestri,the Companys Senior Vice President and Chief Financial Officer,and
175、Katherine L.Adams,the Companys Senior Vice President and General Counsel,each entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c)under the Exchange Act.The plans provide for the sale of all shares vested during the duration of the plans pursuant to ce
176、rtain equity awards granted to Mr.Maestri and Ms.Adams,respectively,excluding any shares withheld by the Company to satisfy income tax withholding and remittance obligations.Mr.Maestris plan will expire on December 31,2024,and Ms.Adamss plan will expire on November 1,2024,subject to early terminatio
177、n for certain specified events set forth in the plans.Item 6.ExhibitsIncorporated by ReferenceExhibitNumberExhibit DescriptionFormExhibitFiling Date/Period End Date31.1*Rule 13a-14(a)/15d-14(a)Certification of Chief Executive Officer.31.2*Rule 13a-14(a)/15d-14(a)Certification of Chief Financial Offi
178、cer.32.1*Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer.101*Inline XBRL Document Set for the condensed consolidated financial statements and accompanying notes in Part I,Item 1,“Financial Statements”of this Quarterly Report on Form 10-Q.104*Inline XBRL for the cov
179、er page of this Quarterly Report on Form 10-Q,included in the Exhibit 101 Inline XBRL Document Set.*Filed herewith.*Furnished herewith.Apple Inc.|Q1 2024 Form 10-Q|21SIGNATUREPursuant to the requirements of the Securities Exchange Act of 1934,the Registrant has duly caused this report to be signed o
180、n its behalf by the undersigned thereunto duly authorized.Date:February1,2024Apple Inc.By:/s/Luca MaestriLuca MaestriSenior Vice President,Chief Financial OfficerApple Inc.|Q1 2024 Form 10-Q|22Exhibit 31.1CERTIFICATIONI,Timothy D.Cook,certify that:1.I have reviewed this quarterly report on Form 10-Q
181、 of Apple Inc.;2.Based on my knowledge,this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made,in light of the circumstances under which such statements were made,not misleading with respect to the period covered by
182、this report;3.Based on my knowledge,the financial statements,and other financial information included in this report,fairly present in all material respects the financial condition,results of operations and cash flows of the Registrant as of,and for,the periods presented in this report;4.The Registr
183、ants other certifying officer(s)and I are responsible for establishing and maintaining disclosure controls and procedures(as defined in Exchange Act Rules 13a-15(e)and 15d-15(e)and internal control over financial reporting(as defined in Exchange Act Rules 13a-15(f)and 15d-15(f)for the Registrant and
184、 have:(a)Designed such disclosure controls and procedures,or caused such disclosure controls and procedures to be designed under our supervision,to ensure that material information relating to the Registrant,including its consolidated subsidiaries,is made known to us by others within those entities,
185、particularly during the period in which this report is being prepared;(b)Designed such internal control over financial reporting,or caused such internal control over financial reporting to be designed under our supervision,to provide reasonable assurance regarding the reliability of financial report
186、ing and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;(c)Evaluated the effectiveness of the Registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosur
187、e controls and procedures,as of the end of the period covered by this report based on such evaluation;and(d)Disclosed in this report any change in the Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal quarter(the Registrants fourth fiscal q
188、uarter in the case of an annual report)that has materially affected,or is reasonably likely to materially affect,the Registrants internal control over financial reporting;and5.The Registrants other certifying officer(s)and I have disclosed,based on our most recent evaluation of internal control over
189、 financial reporting,to the Registrants auditors and the audit committee of the Registrants board of directors(or persons performing the equivalent functions):(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are rea
190、sonably likely to adversely affect the Registrants ability to record,process,summarize and report financial information;and(b)Any fraud,whether or not material,that involves management or other employees who have a significant role in the Registrants internal control over financial reporting.Date:Fe
191、bruary1,2024By:/s/Timothy D.CookTimothy D.CookChief Executive OfficerExhibit 31.2CERTIFICATIONI,Luca Maestri,certify that:1.I have reviewed this quarterly report on Form 10-Q of Apple Inc.;2.Based on my knowledge,this report does not contain any untrue statement of a material fact or omit to state a
192、 material fact necessary to make the statements made,in light of the circumstances under which such statements were made,not misleading with respect to the period covered by this report;3.Based on my knowledge,the financial statements,and other financial information included in this report,fairly pr
193、esent in all material respects the financial condition,results of operations and cash flows of the Registrant as of,and for,the periods presented in this report;4.The Registrants other certifying officer(s)and I are responsible for establishing and maintaining disclosure controls and procedures(as d
194、efined in Exchange Act Rules 13a-15(e)and 15d-15(e)and internal control over financial reporting(as defined in Exchange Act Rules 13a-15(f)and 15d-15(f)for the Registrant and have:(a)Designed such disclosure controls and procedures,or caused such disclosure controls and procedures to be designed und
195、er our supervision,to ensure that material information relating to the Registrant,including its consolidated subsidiaries,is made known to us by others within those entities,particularly during the period in which this report is being prepared;(b)Designed such internal control over financial reporti
196、ng,or caused such internal control over financial reporting to be designed under our supervision,to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting princip
197、les;(c)Evaluated the effectiveness of the Registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,as of the end of the period covered by this report based on such evaluation;and(d)Disclosed in this
198、report any change in the Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal quarter(the Registrants fourth fiscal quarter in the case of an annual report)that has materially affected,or is reasonably likely to materially affect,the Registran
199、ts internal control over financial reporting;and5.The Registrants other certifying officer(s)and I have disclosed,based on our most recent evaluation of internal control over financial reporting,to the Registrants auditors and the audit committee of the Registrants board of directors(or persons perf
200、orming the equivalent functions):(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrants ability to record,process,summarize and report financial information;and(b)
201、Any fraud,whether or not material,that involves management or other employees who have a significant role in the Registrants internal control over financial reporting.Date:February1,2024By:/s/Luca MaestriLuca MaestriSenior Vice President,Chief Financial OfficerExhibit 32.1CERTIFICATIONS OF CHIEF EXE
202、CUTIVE OFFICER AND CHIEF FINANCIAL OFFICERPURSUANT TO18 U.S.C.SECTION 1350,AS ADOPTED PURSUANT TOSECTION 906 OF THE SARBANES-OXLEY ACT OF 2002I,Timothy D.Cook,certify,as of the date hereof,pursuant to 18 U.S.C.Section 1350,as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,that the
203、 Quarterly Report of Apple Inc.on Form 10-Q for the period ended December30,2023 fully complies with the requirements of Section 13(a)or 15(d)of the Securities Exchange Act of 1934 and that information contained in such Form 10-Q fairly presents in all material respects the financial condition and r
204、esults of operations of Apple Inc.at the dates and for the periods indicated.Date:February1,2024By:/s/Timothy D.CookTimothy D.CookChief Executive OfficerI,Luca Maestri,certify,as of the date hereof,pursuant to 18 U.S.C.Section 1350,as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
205、,that the Quarterly Report of Apple Inc.on Form 10-Q for the period ended December30,2023 fully complies with the requirements of Section 13(a)or 15(d)of the Securities Exchange Act of 1934 and that information contained in such Form 10-Q fairly presents in all material respects the financial condit
206、ion and results of operations of Apple Inc.at the dates and for the periods indicated.Date:February1,2024By:/s/Luca MaestriLuca MaestriSenior Vice President,Chief Financial OfficerA signed original of this written statement required by Section 906 has been provided to Apple Inc.and will be retained by Apple Inc.and furnished to the Securities and Exchange Commission or its staff upon request.