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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 March30,2024or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF

2、 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(Addre

3、ss 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 St

4、ock 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 LLC0.50

5、0%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 period

6、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-T(2

7、32.405 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 emerg

8、ing 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 emerging

9、 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 company(a

10、s defined in Rule 12b-2 of the Exchange Act).YesNo15,334,082,000 shares of common stock were issued and outstanding as of April19,2024.Apple Inc.Form 10-QFor the Fiscal Quarter Ended March30,2024 TABLE OF CONTENTSPagePart IItem 1.Financial Statements1Item 2.Managements Discussion and Analysis of Fin

11、ancial 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 Senior Securi

12、ties21Item 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 amounts)Thre

13、e Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Net sales:Products$66,886$73,929$163,344$170,317 Services 23,867 20,907 46,984 41,673 Total net sales 90,753 94,836 210,328 211,990 Cost of sales:Products 42,424 46,795 100,864 107,560 Services 6,058 6,065 12,338 12,122

14、Total cost of sales 48,482 52,860 113,202 119,682 Gross margin 42,271 41,976 97,126 92,308 Operating expenses:Research and development 7,903 7,457 15,599 15,166 Selling,general and administrative 6,468 6,201 13,254 12,808 Total operating expenses 14,371 13,658 28,853 27,974 Operating income 27,900 2

15、8,318 68,273 64,334 Other income/(expense),net 158 64 108 (329)Income before provision for income taxes 28,058 28,382 68,381 64,005 Provision for income taxes 4,422 4,222 10,829 9,847 Net income$23,636$24,160$57,552$54,158 Earnings per share:Basic$1.53$1.53$3.72$3.42 Diluted$1.53$1.52$3.71$3.41 Shar

16、es used in computing earnings per share:Basic 15,405,856 15,787,154 15,457,810 15,839,939 Diluted 15,464,709 15,847,050 15,520,675 15,901,384 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q2 2024 Form 10-Q|1Apple Inc.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSI

17、VE INCOME(Unaudited)(In millions)Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Net income$23,636$24,160$57,552$54,158 Other comprehensive income/(loss):Change in foreign currency translation,net of tax(322)(95)(14)(109)Change in unrealized gains/losses on deriva

18、tive instruments,net of tax:Change in fair value of derivative instruments 456 (13)(75)(1,001)Adjustment for net(gains)/losses realized and included in net income 232 (191)(591)(1,957)Total change in unrealized gains/losses on derivative instruments 688 (204)(666)(2,958)Change in unrealized gains/lo

19、sses on marketable debt securities,net of tax:Change in fair value of marketable debt securities(7)1,403 3,038 2,303 Adjustment for net(gains)/losses realized and included in net income 59 62 134 127 Total change in unrealized gains/losses on marketable debt securities 52 1,465 3,172 2,430 Total oth

20、er comprehensive income/(loss)418 1,166 2,492 (637)Total comprehensive income$24,054$25,326$60,044$53,521 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q2 2024 Form 10-Q|2Apple Inc.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)(In millions,except number of shares

21、,which are reflected in thousands,and par value)March 30,2024September 30,2023ASSETS:Current assets:Cash and cash equivalents$32,695$29,965 Marketable securities 34,455 31,590 Accounts receivable,net 21,837 29,508 Vendor non-trade receivables 19,313 31,477 Inventories 6,232 6,331 Other current asset

22、s 13,884 14,695 Total current assets 128,416 143,566 Non-current assets:Marketable securities 95,187 100,544 Property,plant and equipment,net 43,546 43,715 Other non-current assets 70,262 64,758 Total non-current assets 208,995 209,017 Total assets$337,411$352,583 LIABILITIES AND SHAREHOLDERS EQUITY

23、:Current liabilities:Accounts payable$45,753$62,611 Other current liabilities 57,298 58,829 Deferred revenue 8,012 8,061 Commercial paper 1,997 5,985 Term debt 10,762 9,822 Total current liabilities 123,822 145,308 Non-current liabilities:Term debt 91,831 95,281 Other non-current liabilities 47,564

24、49,848 Total non-current liabilities 139,395 145,129 Total liabilities 263,217 290,437 Commitments and contingenciesShareholders equity:Common stock and additional paid-in capital,$0.00001 par value:50,400,000 shares authorized;15,337,686 and 15,550,061 shares issued and outstanding,respectively 78,

25、815 73,812 Retained earnings/(Accumulated deficit)4,339 (214)Accumulated other comprehensive loss(8,960)(11,452)Total shareholders equity 74,194 62,146 Total liabilities and shareholders equity$337,411$352,583 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q2 2024 F

26、orm 10-Q|3Apple Inc.CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY(Unaudited)(In millions,except per-share amounts)Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Total shareholders equity,beginning balances$74,100$56,727$62,146$50,672 Common stock and a

27、dditional paid-in capital:Beginning balances 75,236 66,399 73,812 64,849 Common stock issued 752 690 752 690 Common stock withheld related to net share settlement of equity awards(222)(281)(1,882)(1,715)Share-based compensation 3,049 2,760 6,133 5,744 Ending balances 78,815 69,568 78,815 69,568 Reta

28、ined earnings/(Accumulated deficit):Beginning balances 8,242 3,240 (214)(3,068)Net income 23,636 24,160 57,552 54,158 Dividends and dividend equivalents declared(3,746)(3,684)(7,520)(7,396)Common stock withheld related to net share settlement of equity awards(71)(152)(1,089)(1,130)Common stock repur

29、chased(23,722)(19,228)(44,390)(38,228)Ending balances 4,339 4,336 4,339 4,336 Accumulated other comprehensive income/(loss):Beginning balances(9,378)(12,912)(11,452)(11,109)Other comprehensive income/(loss)418 1,166 2,492 (637)Ending balances(8,960)(11,746)(8,960)(11,746)Total shareholders equity,en

30、ding balances$74,194$62,158$74,194$62,158 Dividends and dividend equivalents declared per share or RSU$0.24$0.23$0.48$0.46 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q2 2024 Form 10-Q|4Apple Inc.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In milli

31、ons)Six Months EndedMarch 30,2024April 1,2023Cash,cash equivalents and restricted cash,beginning balances$30,737$24,977 Operating activities:Net income 57,552 54,158 Adjustments to reconcile net income to cash generated by operating activities:Depreciation and amortization 5,684 5,814 Share-based co

32、mpensation expense 5,961 5,591 Other(1,971)(1,732)Changes in operating assets and liabilities:Accounts receivable,net 7,727 9,596 Vendor non-trade receivables 12,164 14,785 Inventories 53 (2,548)Other current and non-current assets(4,438)(4,092)Accounts payable(16,710)(20,764)Other current and non-c

33、urrent liabilities(3,437)1,757 Cash generated by operating activities 62,585 62,565 Investing activities:Purchases of marketable securities(25,042)(11,197)Proceeds from maturities of marketable securities 27,462 17,124 Proceeds from sales of marketable securities 4,314 1,897 Payments for acquisition

34、 of property,plant and equipment(4,388)(6,703)Other(729)(247)Cash generated by investing activities 1,617 874 Financing activities:Payments for taxes related to net share settlement of equity awards(2,875)(2,734)Payments for dividends and dividend equivalents(7,535)(7,418)Repurchases of common stock

35、(43,344)(39,069)Repayments of term debt(3,150)(3,651)Repayments of commercial paper,net(3,982)(7,960)Other(132)(455)Cash used in financing activities(61,018)(61,287)Increase in cash,cash equivalents and restricted cash 3,184 2,152 Cash,cash equivalents and restricted cash,ending balances$33,921$27,1

36、29 Supplemental cash flow disclosure:Cash paid for income taxes,net$14,531$4,894 See accompanying Notes to Condensed Consolidated Financial Statements.Apple Inc.|Q2 2024 Form 10-Q|5Apple Inc.Notes to Condensed Consolidated Financial Statements(Unaudited)Note 1 Summary of Significant Accounting Polic

37、iesBasis of Presentation and PreparationThe condensed consolidated financial statements include the 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 adjust

38、ments,which are normal and recurring in nature,necessary for fair financial statement presentation.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 estimat

39、es.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 Form 10-K for the fiscal year ended September30,2023(the“2023 Form 10-K”).The C

40、ompanys 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 in the first fiscal quarter of 2023.The Company

41、s 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 quarters,months and periods of those fiscal years.Note 2 RevenueNet sales disaggr

42、egated by significant products and services for the three-and six-month periods ended March 30,2024 and April1,2023 were as follows(in millions):Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023iPhone$45,963$51,334$115,665$117,109 Mac 7,451 7,168 15,231 14,903 iPad

43、 5,559 6,670 12,582 16,066 Wearables,Home and Accessories 7,913 8,757 19,866 22,239 Services 23,867 20,907 46,984 41,673 Total net sales$90,753$94,836$210,328$211,990 Total net sales include$3.3 billion of revenue recognized in the three months ended March30,2024 that was included in deferred revenu

44、e as of December30,2023,$3.5 billion of revenue recognized in the three months ended April1,2023 that was included in deferred revenue as of December31,2022,$5.1 billion of revenue recognized in the six months ended March30,2024 that was included in deferred revenue as of September30,2023,and$5.5 bi

45、llion of revenue recognized in the six months ended April1,2023 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”f

46、or the three-and six-month periods ended March 30,2024 and April1,2023,except in Greater China,where iPhone revenue represented a moderately higher proportion of net sales.As of March30,2024 and September30,2023,the Company had total deferred revenue of$12.6 billion and$12.1billion,respectively.As o

47、f March30,2024,the Company expects 64%of total deferred revenue to be realized in less than a year,26%within one-to-two years,9%within two-to-three years and 1%in greater than three years.Apple Inc.|Q2 2024 Form 10-Q|6Note 3 Earnings Per ShareThe following table shows the computation of basic and di

48、luted earnings per share for the three-and six-month periods ended March 30,2024 and April 1,2023(net income in millions and shares in thousands):Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Numerator:Net income$23,636$24,160$57,552$54,158 Denominator:Weighted-

49、average basic shares outstanding 15,405,856 15,787,154 15,457,810 15,839,939 Effect of dilutive share-based awards 58,853 59,896 62,865 61,445 Weighted-average diluted shares 15,464,709 15,847,050 15,520,675 15,901,384 Basic earnings per share$1.53$1.53$3.72$3.42 Diluted earnings per share$1.53$1.52

50、$3.71$3.41 Approximately 48million restricted stock units(“RSUs”)were excluded from the computation of diluted earnings per share for the six months ended April1,2023 because their effect would have been antidilutive.Note 4 Financial InstrumentsCash,Cash Equivalents and Marketable SecuritiesThe foll

51、owing tables show the Companys cash,cash equivalents and marketable securities by significant investment category as of March30,2024 and September30,2023(in millions):March 30,2024AdjustedCostUnrealizedGainsUnrealizedLossesFairValueCash andCashEquivalentsCurrentMarketableSecuritiesNon-CurrentMarketa

52、bleSecuritiesCash$28,227$28,227$28,227$Level 1:Money market funds 1,353 1,353 1,353 Mutual funds 464 66 (7)523 523 Subtotal 1,817 66 (7)1,876 1,353 523 Level 2(1):U.S.Treasury securities 18,150 1 (933)17,218 1,895 4,133 11,190 U.S.agency securities 5,775 (446)5,329 233 581 4,515 Non-U.S.government s

53、ecurities 17,319 37 (666)16,690 11,289 5,401 Certificates of deposit and time deposits 976 976 656 320 Commercial paper 1,482 1,482 274 1,208 Corporate debt securities 71,612 90 (3,694)68,008 57 15,096 52,855 Municipal securities 511 (15)496 188 308 Mortgage-and asset-backed securities 24,044 37 (2,

54、046)22,035 1,117 20,918 Subtotal 139,869 165 (7,800)132,234 3,115 33,932 95,187 Total(2)$169,913$231$(7,807)$162,337$32,695$34,455$95,187 Apple Inc.|Q2 2024 Form 10-Q|7September 30,2023AdjustedCostUnrealizedGainsUnrealizedLossesFairValueCash andCashEquivalentsCurrentMarketableSecuritiesNon-CurrentMa

55、rketableSecuritiesCash$28,359$28,359$28,359$Level 1:Money market funds 481 481 481 Mutual funds and equity securities 442 12 (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

56、.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 Commercial 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 22,3

57、65 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$29,965$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 cre

58、dit ratings,are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data.(2)As of March 30,2024 and September 30,2023,total marketable securities included$14.0 billion and$13.8 billion,respectively,that were restricted f

59、rom general use,related to the European Commission decision finding that Ireland granted state aid to the Company,and other agreements.The following table shows the fair value of the Companys non-current marketable debt securities,by contractual maturity,as of March30,2024(in millions):Due after 1 y

60、ear through 5 years$67,987 Due after 5 years through 10 years 9,108 Due after 10 years 18,092 Total fair value$95,187 Derivative Instruments and HedgingThe Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk.However,the Company

61、may choose not to hedge certain exposures for a variety of reasons,including accounting considerations or the prohibitive 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 exc

62、hange or interest rates.Foreign Exchange Rate RiskTo protect gross margins from fluctuations in foreign exchange rates,the 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 cur

63、rency exposure associated with revenue and inventory purchases,typically for up to 12 months.To protect the Companys foreign currencydenominated term debt or marketable securities from fluctuations in foreign exchange rates,the Company may use forwards,cross-currency swaps or other instruments.The C

64、ompany designates these instruments as either cash flow or fair value hedges.As of March30,2024,the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for term debtrelated foreign currency transactions is 18 years.The Company may also use de

65、rivative instruments that are not designated as accounting hedges to protect gross margins from certain fluctuations in 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-f

66、unctional currencies.Apple Inc.|Q2 2024 Form 10-Q|8Interest Rate RiskTo protect the Companys term debt or marketable securities 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 fai

67、r value hedges.The notional amounts of the Companys outstanding derivative instruments as of March30,2024 and September30,2023 were as follows(in millions):March 30,2024September 30,2023Derivative instruments designated as accounting hedges:Foreign exchange contracts$60,265$74,730 Interest rate cont

68、racts$17,625$19,375 Derivative instruments not designated as accounting hedges:Foreign exchange contracts$75,552$104,777 The carrying amounts of the Companys hedged items in fair value hedges as of March30,2024 and September30,2023 were as follows(in millions):March 30,2024September 30,2023Hedged as

69、sets/(liabilities):Current and non-current marketable securities$15,045$14,433 Current and non-current term debt$(16,817)$(18,247)Accounts ReceivableTrade ReceivablesThe Companys third-party cellular network carriers accounted for 34%and 41%of total trade receivables as of March30,2024 and September

70、30,2023,respectively.The Company requires third-party credit support or collateral from certain customers 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 manufa

71、cture subassemblies or assemble final products for the Company.The Company purchases these components 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

72、 when the related final products are sold by the Company.As of March30,2024,the Company had two vendors that individually represented 10%or more of total vendor non-trade receivables,which accounted for 47%and 19%.As of September30,2023,the Company had two vendors that individually represented 10%or

73、 more of total vendor non-trade receivables,which accounted for 48%and 23%.Note 5 Condensed Consolidated Financial Statement DetailsThe following table shows the Companys condensed consolidated financial statement details as of March 30,2024 and September30,2023(in millions):Property,Plant and Equip

74、ment,NetMarch 30,2024September 30,2023Gross property,plant and equipment$115,243$114,599 Accumulated depreciation(71,697)(70,884)Total property,plant and equipment,net$43,546$43,715 Apple Inc.|Q2 2024 Form 10-Q|9Note 6 DebtCommercial PaperThe Company issues unsecured short-term promissory notes purs

75、uant to a commercial paper program.The Company uses net proceeds from the commercial paper program for general corporate purposes,including dividends and share repurchases.As of March30,2024 and September30,2023,the Company had$2.0 billion and$6.0 billion of commercial paper outstanding,respectively

76、.The following table provides a summary of cash flows associated with the issuance and maturities of commercial paper for the six months ended March30,2024 and April1,2023(in millions):Six Months EndedMarch 30,2024April 1,2023Maturities 90 days or less:Repayments of commercial paper,net$(3,982)$(5,3

77、15)Maturities greater than 90 days:Repayments of commercial paper (2,645)Total repayments of commercial paper,net$(3,982)$(7,960)Term DebtAs of March30,2024 and September30,2023,the Company had outstanding fixed-rate notes with varying maturities for an aggregate carrying amount of$102.6 billion and

78、$105.1 billion,respectively(collectively the“Notes”).As of March30,2024 and September30,2023,the fair value of the Companys Notes,based on Level 2 inputs,was$91.6 billion and$90.8 billion,respectively.Note 7 Shareholders EquityShare Repurchase ProgramDuring the six months ended March30,2024,the Comp

79、any repurchased 248 million shares of its common stock for$44.0 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 comp

80、lying with Rule 10b5-1 under the Securities Exchange Act of 1934,as amended(the“Exchange Act”).Note 8 Share-Based CompensationRestricted Stock UnitsA summary of the Companys RSU activity and related information for the six months ended March30,2024 is as follows:Number ofRSUs(in thousands)Weighted-A

81、verageGrant Date FairValue Per RSUAggregateFair Value(in millions)Balance as of September 30,2023 180,247$135.91 RSUs granted 75,826$171.78 RSUs vested(47,027)$113.44 RSUs canceled(5,195)$126.83 Balance as of March 30,2024 203,851$154.66$34,956 The fair value as of the respective vesting dates of RS

82、Us was$821 million and$8.6 billion for the three-and six-month periods ended March 30,2024,respectively,and was$1.1 billion and$8.0 billion for the three-and six-month periods ended April 1,2023,respectively.Apple Inc.|Q2 2024 Form 10-Q|10Share-Based CompensationThe following table shows share-based

83、 compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three-and six-month periods ended March 30,2024 and April 1,2023(in millions):Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Share-bas

84、ed compensation expense$2,964$2,686$5,961$5,591 Income tax benefit related to share-based compensation expense$(663)$(620)$(1,898)$(1,798)As of March30,2024,the total unrecognized compensation cost related to outstanding RSUs was$24.7 billion,which the Company expects to recognize over a weighted-av

85、erage period of 2.7 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 litigation is inherently uncertain.In the opinion of management,there was not at least

86、 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 Information and Geographic DataThe following table shows information by reportable segment for

87、the three-and six-month periods ended March 30,2024 and April 1,2023(in millions):Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Americas:Net sales$37,273$37,784$87,703$87,062 Operating income$15,074$13,927$35,431$31,791 Europe:Net sales$24,123$23,945$54,520$51,6

88、26 Operating income$9,991$9,368$22,702$19,385 Greater China:Net sales$16,372$17,812$37,191$41,717 Operating income$6,700$7,531$15,322$17,968 Japan:Net sales$6,262$7,176$14,029$13,931 Operating income$3,135$3,394$6,954$6,630 Rest of Asia Pacific:Net sales$6,723$8,119$16,885$17,654 Operating income$2,

89、806$3,268$7,385$7,119 Apple Inc.|Q2 2024 Form 10-Q|11A reconciliation of the Companys segment operating income to the Condensed Consolidated Statements of Operations for the three-and six-month periods ended March 30,2024 and April 1,2023 is as follows(in millions):Three Months EndedSix Months Ended

90、March 30,2024April 1,2023March 30,2024April 1,2023Segment operating income$37,706$37,488$87,794$82,893 Research and development expense(7,903)(7,457)(15,599)(15,166)Other corporate expenses,net(1,903)(1,713)(3,922)(3,393)Total operating income$27,900$28,318$68,273$64,334 Apple Inc.|Q2 2024 Form 10-Q

91、|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 forward-looking statements,within the meaning of the Private Securities Litigation Reform Act of 1995,that involve risk

92、s 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 historical or current fact.For example,statements in this Form 10-Q regarding the potential future impact of macroe

93、conomic 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,”“anticipates,”“believes,”“estimates,”“expects,”“intends,”“plans,”“predicts,”“will,”“would,”“could,”“can,”“may,”and similar t

94、erms.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 statements.Factors that might cause such differences include,but are not limited to,those discussed in Part I,Item 1A of

95、 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 otherwise stated,all information presented herein is based on the Companys fiscal calendar,and references to partic

96、ular 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 should be read in conjunction with the 2023 Form 10-K filed with the U.S.Securities and Exchange Commission(the“SE

97、C”)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 information for investors on its corporate website,and its investor relations website,.This includes press releases

98、 and other information about financial performance,information on environmental,social and governance matters,and details related to the Companys annual meeting of shareholders.The information contained on the websites referenced in this Form 10-Q is not incorporated by reference into this filing.Fu

99、rther,the Companys references to website URLs are intended to be inactive textual references only.Business Seasonality and Product IntroductionsThe Company has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in part to seasonal holiday

100、 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 Companys net sales to its indirect distribution channels as these channels are filled with new inventory followin

101、g 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 anticipate a product introduction.During the second quarter of 2024,the Company announced an updated MacBook Air 13-i

102、n.and MacBook Air 15-in.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 in th

103、e first quarter of 2023.The Companys fiscal years 2024 and 2023 span 52 and 53 weeks,respectively.Macroeconomic ConditionsMacroeconomic conditions,including inflation,interest rates and currency fluctuations,have directly and indirectly impacted,and could in the future materially impact,the Companys

104、 results of operations and financial condition.Apple Inc.|Q2 2024 Form 10-Q|13Segment Operating PerformanceThe following table shows net sales by reportable segment for the three-and six-month periods ended March 30,2024 and April1,2023(dollars in millions):Three Months EndedSix Months EndedMarch 30

105、,2024April 1,2023ChangeMarch 30,2024April 1,2023ChangeNet sales by reportable segment:Americas$37,273$37,784 (1)%$87,703$87,062 1%Europe 24,123 23,945 1%54,520 51,626 6%Greater China 16,372 17,812 (8)%37,191 41,717 (11)%Japan 6,262 7,176 (13)%14,029 13,931 1%Rest of Asia Pacific 6,723 8,119 (17)%16,

106、885 17,654 (4)%Total net sales$90,753$94,836 (4)%$210,328$211,990 (1)%AmericasAmericas net sales were relatively flat during the second quarter of 2024 compared to the second quarter of 2023,with lower net sales of iPhone and iPad offset by higher net sales of Services.Year-over-year Americas net sa

107、les were relatively flat during the first six months of 2024,with higher net sales of Services offset by lower net sales of iPhone and iPad.The strength in foreign currencies relative to the U.S.dollar had a net favorable year-over-year impact on Americas net sales during the second quarter and firs

108、t six months of 2024.EuropeEurope net sales were relatively flat during the second quarter of 2024 compared to the second quarter of 2023,with higher net sales of Services offset by lower net sales of iPhone.The weakness in foreign currencies relative to the U.S.dollar had a net unfavorable year-ove

109、r-year impact on Europe net sales during the second quarter of 2024.Year-over-year Europe net sales increased during the first six months of 2024 due primarily to higher net sales of iPhone and Services,partially offset by lower net sales of iPad.Greater ChinaGreater China net sales decreased during

110、 the second quarter and first six months of 2024 compared to the same periods in 2023 due primarily to lower net sales of iPhone and iPad.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 second quarter and first si

111、x months of 2024.JapanJapan net sales decreased during the second quarter of 2024 compared to the second quarter of 2023 due primarily to lower net sales of iPhone.Year-over-year Japan net sales during the first six months of 2024 were relatively flat.The weakness in the yen relative to the U.S.doll

112、ar had an unfavorable year-over-year impact on Japan net sales during the second quarter and first six months of 2024.Rest of Asia PacificRest of Asia Pacific net sales decreased during the second quarter of 2024 compared to the second quarter of 2023 due primarily to lower net sales of iPhone.Year-

113、over-year Rest of Asia Pacific net sales decreased during the first six months of 2024 due primarily to lower net sales of Wearables,Home and Accessories and iPad.Apple Inc.|Q2 2024 Form 10-Q|14Products and Services PerformanceThe following table shows net sales by category for the three-and six-mon

114、th periods ended March 30,2024 and April1,2023(dollars in millions):Three Months EndedSix Months EndedMarch 30,2024April 1,2023ChangeMarch 30,2024April 1,2023ChangeNet sales by category:iPhone$45,963$51,334 (10)%$115,665$117,109 (1)%Mac 7,451 7,168 4%15,231 14,903 2%iPad 5,559 6,670 (17)%12,582 16,0

115、66 (22)%Wearables,Home and Accessories 7,913 8,757 (10)%19,866 22,239 (11)%Services 23,867 20,907 14%46,984 41,673 13%Total net sales$90,753$94,836 (4)%$210,328$211,990 (1)%iPhoneiPhone net sales decreased during the second quarter of 2024 compared to the second quarter of 2023 due to lower net sale

116、s of Pro models.Year-over-year iPhone net sales were relatively flat during the first six months of 2024.MacMac net sales increased during the second quarter and first six months of 2024 compared to the same periods in 2023 due to higher net sales of laptops.iPadiPad net sales decreased during the s

117、econd quarter and first six months of 2024 compared to the same periods in 2023 due primarily to lower net sales of iPad Pro and iPad 9th generation.Wearables,Home and AccessoriesWearables,Home and Accessories net sales decreased during the second quarter and first six months of 2024 compared to the

118、 same periods in 2023 due primarily to lower net sales of Wearables and Accessories.ServicesServices net sales increased during the second quarter and first six months of 2024 compared to the same periods in 2023 due primarily to higher net sales from advertising,the App Store and cloud services.App

119、le Inc.|Q2 2024 Form 10-Q|15Gross MarginProducts and Services gross margin and gross margin percentage for the three-and six-month periods ended March 30,2024 and April1,2023 were as follows(dollars in millions):Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Gros

120、s margin:Products$24,462$27,134$62,480$62,757 Services 17,809 14,842 34,646 29,551 Total gross margin$42,271$41,976$97,126$92,308 Gross margin percentage:Products 36.6%36.7%38.3%36.8%Services 74.6%71.0%73.7%70.9%Total gross margin percentage 46.6%44.3%46.2%43.5%Products Gross MarginProducts gross ma

121、rgin decreased during the second quarter of 2024 compared to the second quarter of 2023 due primarily to lower Products volume and the weakness in foreign currencies relative to the U.S.dollar.Year-over-year Products gross margin was relatively flat during the first six months of 2024.Products gross

122、 margin percentage was relatively flat during the second quarter of 2024 compared to the second quarter of 2023.Year-over-year Products gross margin percentage increased during the first six months of 2024 due primarily to cost savings,partially offset by the weakness in foreign currencies relative

123、to the U.S.dollar.Services Gross MarginServices gross margin and Services gross margin percentage increased during the second quarter and first six months of 2024 compared to the same periods in 2023 due primarily to a different Services mix.The Companys future gross margins can be impacted by a var

124、iety of factors,as discussed in Part I,Item 1A of the 2023 Form 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.Operating ExpensesOperating expenses for the three-and six-month periods ended March 30,2

125、024 and April1,2023 were as follows(dollars in millions):Three Months EndedSix Months EndedMarch 30,2024April 1,2023March 30,2024April 1,2023Research and development$7,903$7,457$15,599$15,166 Percentage of total net sales 9%8%7%7%Selling,general and administrative$6,468$6,201$13,254$12,808 Percentag

126、e of total net sales 7%7%6%6%Total operating expenses$14,371$13,658$28,853$27,974 Percentage of total net sales 16%14%14%13%Research and DevelopmentThe growth in research and development(“R&D”)expense during the second quarter and first six months of 2024 compared to the same periods in 2023 was dri

127、ven primarily by increases in headcount-related expenses.Apple Inc.|Q2 2024 Form 10-Q|16Selling,General and AdministrativeThe growth in selling,general and administrative expense during the second quarter and first six months of 2024 compared to the same periods in 2023 was driven in part by higher

128、infrastructure-related costs.Provision for Income TaxesProvision for income taxes,effective tax rate and statutory federal income tax rate for the three-and six-month periods ended March 30,2024 and April1,2023 were as follows(dollars in millions):Three Months EndedSix Months EndedMarch 30,2024April

129、 1,2023March 30,2024April 1,2023Provision for income taxes$4,422$4,222$10,829$9,847 Effective tax rate 15.8%14.9%15.8%15.4%Statutory federal income tax rate 21%21%21%21%The Companys effective tax rate for the second quarter and first six months of 2024 was lower than the statutory federal income tax

130、 rate due primarily to a lower effective tax rate on foreign earnings,the impact of the U.S.federal R&D credit,and tax benefits from share-based compensation,partially offset by state income taxes.The Companys effective tax rate for the second quarter and first six months of 2024 was higher compared

131、 to the same periods in 2023 due primarily to a higher effective tax rate on foreign earnings and a lower tax benefit from the U.S.federal R&D credit.Liquidity and Capital ResourcesThe Company believes its balances of cash,cash equivalents and unrestricted marketable securities,along with cash gener

132、ated 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 changed materially since the 2023 Form 10-K,except for manufacturing p

133、urchase 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 also obtains individual components for its products from a wide va

134、riety of individual suppliers.As of March30,2024,the Company had manufacturing purchase obligations of$34.2 billion,with$34.1 billion payable within 12 months.Capital Return ProgramIn addition to its contractual cash requirements,the Company has an authorized share repurchase program,under which the

135、 remaining availability was$30.1 billion as of March30,2024.On May2,2024,the Company announced the Board of Directors had authorized an additional program to repurchase up to$110 billion of the Companys common stock.The programs do not obligate the Company to acquire a minimum amount of shares.On Ma

136、y2,2024,the Company also announced the Board of Directors raised the Companys quarterly cash dividend from$0.24 to$0.25 per share,beginning with the dividend to be paid during the third quarter of 2024.The Company intends to increase its dividend on an annual basis,subject to declaration by the Boar

137、d of Directors.During the second quarter of 2024,the Company repurchased$23.5 billion of its common stock and paid dividends and dividend equivalents of$3.7 billion.Apple Inc.|Q2 2024 Form 10-Q|17Recent Accounting PronouncementsIncome TaxesIn December 2023,the Financial Accounting Standards Board(th

138、e“FASB”)issued Accounting Standards Update(“ASU”)No.2023-09,Income Taxes(Topic 740):Improvements to Income Tax Disclosures(“ASU 2023-09”),which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconcili

139、ng items that meet a quantitative threshold.ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal,state and foreign taxes,with further disaggregation required for significant individual jurisdictions.The Company will adopt ASU 2023-09 in its fourth qua

140、rter of 2026.ASU 2023-09 allows for adoption using either a prospective or retrospective transition method.Segment ReportingIn November 2023,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 dis

141、close segment expenses that are significant and regularly provided to the Companys chief operating decision maker(“CODM”).In addition,ASU 2023-07 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 perf

142、ormance and deciding how to allocate resources.The Company will adopt ASU 2023-07 in its fourth quarter of 2025 using a retrospective transition method.Critical Accounting EstimatesThe preparation of financial statements and related disclosures in conformity with GAAP and the Companys discussion and

143、 analysis of its financial condition and operating results require the Companys management to make judgments,assumptions and estimates that 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 t

144、his 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 accounting policies and methods used in the preparation of the Companys condensed consolidated financial statements.There have been no material changes to the Companys

145、 critical accounting estimates since the 2023 Form 10-K.Item 3.Quantitative and Qualitative Disclosures About Market RiskThere have been no material changes to the Companys market risk during the first six months of 2024.For a discussion of the Companys exposure to market risk,refer to the Companys

146、market risk disclosures set forth in Part II,Item 7A,“Quantitative and Qualitative Disclosures About Market Risk”of the 2023 Form 10-K.Item 4.Controls and ProceduresEvaluation of Disclosure Controls and ProceduresBased on an evaluation under the supervision and with the participation of the Companys

147、 management,the Companys principal executive officer and principal financial officer have concluded that the Companys disclosure controls and procedures as defined in Rules 13a-15(e)and 15d-15(e)under the Exchange Act were effective as of March30,2024 to provide reasonable assurance that information

148、 required to be disclosed by the Company in reports that it files or submits under the Exchange Act is(i)recorded,processed,summarized 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 exec

149、utive officer and principal financial officer,as appropriate to allow timely decisions regarding required disclosure.Changes in Internal Control over Financial ReportingThere were no changes in the Companys internal control over financial reporting during the second quarter of 2024,which were identi

150、fied in connection with managements evaluation required by paragraph(d)of Rules 13a-15 and 15d-15 under the Exchange Act,that have materially affected,or are reasonably likely to materially affect,the Companys internal control over financial reporting.Apple Inc.|Q2 2024 Form 10-Q|18PART II OTHER INF

151、ORMATIONItem 1.Legal ProceedingsDigital Markets Act InvestigationsOn March 25,2024,the European Commission(the“Commission”)announced that it had opened two formal noncompliance investigations against the Company under the European Union(“EU”)Digital Markets Act(the“DMA”).The Commissions investigatio

152、ns concern(1)Article 5(4)of the DMA,which relates to how developers may communicate and promote offers to end users for apps distributed through the App Store as well as how developers may conclude contracts with those end users;and(2)Article 6(3)of the DMA,which relates to default settings,uninstal

153、lation of apps,and a web browser choice screen on iOS.If the Commission concludes that there has been a violation,it can issue a cease and desist order and may impose fines up to 10%of the Companys annual worldwide net sales.Although any decision by the Commission can be appealed to the General Cour

154、t of the EU,the effectiveness of the Commissions order would apply immediately while the appeal is pending,unless a stay of the order is granted.The Company believes that it complies with the DMA and will continue to engage with the Commission as it conducts its investigations.Department of Justice

155、LawsuitOn March 21,2024,the U.S.Department of Justice(the“DOJ”)and 16 state and district attorneys general filed a civil antitrust lawsuit in the U.S.District Court for the District of New Jersey against the Company alleging monopolization or attempted monopolization in the markets for“performance s

156、martphones”and“smartphones”in violation of U.S.antitrust laws.The DOJ is seeking equitable relief to redress the alleged anticompetitive behavior.In addition,various civil litigation matters have been filed in state and federal courts in the U.S.alleging similar violations of U.S.antitrust laws and

157、seeking monetary damages and other nonmonetary relief.The Company believes it has substantial defenses and intends to vigorously defend itself.Epic GamesEpic Games,Inc.(“Epic”)filed a lawsuit in the U.S.District Court for the Northern District of California(the“California District Court”)against the

158、 Company alleging violations of federal and state antitrust laws and Californias unfair competition law based upon the Companys operation of its App Store.The California District Court found that certain provisions of the Companys App Store Review Guidelines violate Californias unfair competition la

159、w and issued an injunction enjoining the Company from prohibiting developers from including in their apps external links that direct 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 January 1

160、6,2024,the Company implemented a plan to comply with the injunction and filed a statement of compliance with the California District Court.On March 13,2024,Epic filed a motion with the California District Court disputing the Companys compliance plan and seeking to enforce the injunction.The Company

161、has filed an opposition to Epics motion.The Company believes it has substantial defenses and intends to vigorously defend itself.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 busine

162、ss.The Company settled certain matters during the second 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

163、the Company 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 stoc

164、k price can 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

165、,financial 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

166、regulatory 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 requir

167、ements.The 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.|Q

168、2 2024 Form 10-Q|19In January 2024,the Company announced changes to iOS,the App Store and Safari in the EU to comply with the DMA,including new business terms and alternative fee structures for iOS apps,alternative methods of distribution for iOS apps,alternative payment processing for apps across t

169、he 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 has been challenged by the Commission and may be challenged further by private litigants.In addition,ot

170、her jurisdictions may seek to require the Company to make changes to its business.While the changes introduced by the Company in the EU are intended to reduce new privacy and security risks the DMA poses to EU users,many risks will remain.The Company is also currently subject to antitrust investigat

171、ions and litigation 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 financial condition.For example,the Compa

172、ny is subject to civil antitrust lawsuits in the U.S.alleging monopolization or attempted monopolization in the markets for“performance smartphones”and“smartphones”generally in violation of U.S.antitrust laws.In addition,the Company is the subject of investigations in Europe and other jurisdictions

173、relating to App Store terms and conditions.If such investigations or litigation are resolved against the Company,the Company can be exposed to significant fines and may be required to make further changes to its business practices,all of which could materially adversely affect the Companys business,

174、reputation,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 and litigation that,if resolved against those other companies,could materially adversely affect t

175、he 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 from licensing arrangements with other companies to offer their search services on the Companys

176、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 adversely affected,individually or in the aggregate,by the outcomes of such investigations,liti

177、gation 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 impact the reputation of the Companys products for privacy and security and otherwise adversely affe

178、ct 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 services,and lost sales.Item 2.Unregistered Sales of Equity Securities and Use of ProceedsPurchases of

179、Equity Securities by the Issuer and Affiliated PurchasersShare repurchase activity during the three months ended March30,2024 was as follows(in millions,except number of shares,which are reflected in thousands,and per-share amounts):PeriodsTotal Numberof Shares PurchasedAverage PricePaid Per ShareTo

180、tal Number of SharesPurchased as Part of PubliclyAnnounced Plans or ProgramsApproximate Dollar Value ofShares That May Yet Be PurchasedUnder the Plans or Programs(1)December 31,2023 to February 3,2024:Open market and privately negotiated purchases 40,119$186.95 40,119 February 4,2024 to March 2,2024

181、:Open market and privately negotiated purchases 40,120$183.88 40,120 March 3,2024 to March 30,2024:Open market and privately negotiated purchases 50,053$172.27 50,053 Total 130,292$30,069(1)As of March30,2024,the Company was authorized by the Board of Directors to purchase up to$90 billion of the Co

182、mpanys common stock under a share repurchase program announced on May 4,2023,of which$59.9 billion had been utilized.On May2,2024,the Company announced the Board of Directors had authorized an additional program to repurchase up to$110 billion of the Companys common stock.The programs do not obligat

183、e the Company to acquire a minimum amount of shares.Under the programs,shares may be repurchased in privately negotiated or open market transactions,including under plans complying with Rule 10b5-1 under the Exchange Act.Apple Inc.|Q2 2024 Form 10-Q|20Item 3.Defaults Upon Senior SecuritiesNone.Item

184、4.Mine Safety DisclosuresNot applicable.Item 5.Other InformationInsider Trading ArrangementsNone.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

185、-14(a)Certification of Chief Financial Officer.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 Repo

186、rt on Form 10-Q.104*Inline XBRL for the cover page of this Quarterly Report on Form 10-Q,included in the Exhibit 101 Inline XBRL Document Set.*Filed herewith.*Furnished herewith.Apple Inc.|Q2 2024 Form 10-Q|21SIGNATUREPursuant to the requirements of the Securities Exchange Act of 1934,the Registrant

187、 has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.Date:May2,2024Apple Inc.By:/s/Luca MaestriLuca MaestriSenior Vice President,Chief Financial OfficerApple Inc.|Q2 2024 Form 10-Q|22Exhibit 31.1CERTIFICATIONI,Timothy D.Cook,certify that:1.I have revie

188、wed 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 material fact necessary to make the statements made,in light of the circumstances under which such statements were made,not misleading

189、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 present in all material respects the financial condition,results of operations and cash flows of the Registrant as of,and for,the periods

190、presented in this report;4.The Registrants 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

191、(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 under our supervision,to ensure that material information relating to the Registrant,including its consolidated subsidiaries,is made known

192、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 reporting,or caused such internal control over financial reporting to be designed under our supervision,to provide reasonable assurance regardi

193、ng the reliability of financial reporting 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 ab

194、out 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 report any change in the Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal q

195、uarter(the Registrants fourth fiscal quarter 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 rece

196、nt evaluation of internal control over 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

197、over financial reporting which are reasonably 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 co

198、ntrol over financial reporting.Date:May2,2024By:/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

199、 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 this report;3.Based on my knowledge,the financial statements,and other financial information

200、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 Registrants other certifying officer(s)and I are responsible for establishing and maintaining disclo

201、sure 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 have:(a)Designed such disclosure controls and procedures,or caused such disclosure controls

202、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,particularly during the period in which this report is being prepared;(b)Designed such intern

203、al 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 reporting and the preparation of financial statements for external purposes in accordance with gene

204、rally 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 disclosure controls and procedures,as of the end of the period covered by this report based on such ev

205、aluation;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 quarter in the case of an annual report)that has materially affected,or is reasonably likely t

206、o 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 financial reporting,to the Registrants auditors and the audit committee of the Registrants b

207、oard 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 reasonably likely to adversely affect the Registrants ability to record,process,summarize and re

208、port 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:May2,2024By:/s/Luca MaestriLuca MaestriSenior Vice President,Chief Financial OfficerExhibit 32.

209、1CERTIFICATIONS OF CHIEF EXECUTIVE 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 Sarbane

210、s-Oxley Act of 2002,that the Quarterly Report of Apple Inc.on Form 10-Q for the period ended March30,2024 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

211、financial condition and results of operations of Apple Inc.at the dates and for the periods indicated.Date:May2,2024By:/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 Sarban

212、es-Oxley Act of 2002,that the Quarterly Report of Apple Inc.on Form 10-Q for the period ended March30,2024 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

213、 financial condition and results of operations of Apple Inc.at the dates and for the periods indicated.Date:May2,2024By:/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.