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Apple Inc.AAPL

Sector
Technology
Industry
Electronic Computers
Exchange
Nasdaq

Stock Price $AAPL

Latest filings

You are here#2 of 67 in Technology by market cap

Filing record · 2016–202610-K1010-Q338-K99

AAPL filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 99 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Sep ’19Sep ’19
  2. Leadership change8-K · Nov ’21Nov ’21
  3. FY2025 annual report10-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $416.16B
YoY changeLargest recent move+33.3%in FY21Latest +6.4%

3 older moves run past ±50% (largest +66.0%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All AAPL Financial Metrics62 metrics

Income Statement17

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

Apple Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Apple’s hardware narrative flipped in Q1 2026 when iPhone sales unexpectedly surged 23% to $85.27 billiona, breaking the assumption of a permanently mature smartphone market. This product re-acceleration solidifies the core investment thesis: Apple operates a highly effective dual-engine model that captures massive revenue spikes from cyclical hardware upgrades while relying on a high-margin software ecosystem for compounding baseline profitability.

This underlying business mix has systematically evolved over the last half-decade. Total net sales grew from $365.8 billion in FY2021 to $416.16 billionb in FY2025. Beneath that top-line expansion lies a deliberate shift toward software monetization. By Q2 2026, services revenue was expanding at a 16% rate, driving overall corporate gross margins to a peak of 49.3%—up significantly from 43.3% in FY2022. The company relentlessly channels this cash generation back to investors, executing $89.3 billion in share repurchases during FY2025 alone. The market paid a distinct premium for this structural margin expansion at the close of FY2025, valuing the stock at $255.46 per share, which translated to a $3.77 trillion market cap and a 34.2x earnings multiple.

Recent Developments (Q1 and Q2 2026)

Apple announced a leadership transition alongside continued top-line growth, with Tim Cook stepping down as CEO to become Executive Chair on September 1, 2026, succeeded by hardware chief John Ternus. During Q2 2026, total net sales increased 17% year-over-year to $111.2 billionc, driven by a 28% revenue surge in Greater China. Operating income climbed 21% to $35.9 billion, which funded a newly authorized $100 billion share repurchase program.

Bulls view the 32% increase in Q1 2026 research and development spending to $10.89 billiond as a direct catalyst for future hardware cycles under the incoming chief executive. Bears warn the equity is richly valued, trading at 37.6x earnings as of May 1, 2026, requiring precise execution to support its $4.14 trillion market cap.

What to watch: John Ternus's strategic directives upon assuming the CEO role; the sustainability of Greater China revenue growth.

03—Filings

Recent SEC Filings

  1. 8-KApple Inc. 8-K/A Report, Executive Changes (Sep 1, 2026)Apple Inc. has filed an amendment to its previous 8-K filing, detailing new compensation arrangements for its CEO, John Ternus, and Executive Chair, Tim Cook, effective September 1, 2026. This filing confirms the transition plan and provides specific details on salary increases and equity awards for both executives. Investors should note the significant equity grants, particularly performance-based RSUs tied to total shareholder return, which align executive compensation with long-term company performance and shareholder value. The compensation adjustments reflect the new roles and responsibilities of Mr. Ternus as CEO and Mr. Cook as Executive Chair. The company is emphasizing performance-based incentives, with a substantial portion of future equity awards linked to Apple's relative performance against the S&P 500. This structure aims to ensure continued executive focus on driving shareholder returns and maintaining Apple's competitive position in the market.
  2. 8-KApple Inc. 8-K Report, Financial Results (Jul 30, 2026)Apple reported fiscal Q3 2026 (quarter ended June 27, 2026) revenue of $109.4 billion, up 16% year over year, with diluted EPS of $2.02, up 29%. Products revenue rose 18% to $78.7 billion, led by iPhone (+22%) and Mac (+29%), while Services grew 12% to $30.7 billion. Greater China grew 22%, and every geographic segment posted growth. Operating income rose about 27% to $35.7 billion, and net income rose 27% to $29.8 billion. Management described the result as the strongest June quarter on record for total revenue and EPS. Quality of earnings deserves scrutiny. Company gross margin of 50.1% included roughly 2 percentage points from tariff refunds, and EPS included $0.11 from the same source. Excluding these one-time benefits, underlying margin and EPS growth were somewhat lower than the headline figures. Operating expenses grew about 23%, with R&D up 32% to $11.7 billion, which points to continued heavy investment in AI features such as the new Siri announced at WWDC26. Balance sheet and cash flow were strong. Nine-month operating cash flow was $117.0 billion, up 43%, and capex fell to $6.8 billion. Cash and marketable securities reached about $146.5 billion, and total debt fell to about $84.3 billion, leaving net cash of roughly $62 billion versus about $34 billion a year earlier. Apple repurchased $62.1 billion of stock over nine months and paid $11.8 billion in dividends, and diluted share count declined about 1.6%. The board declared a quarterly dividend of $0.27 per share, payable August 13, 2026. Inventories nearly doubled to $11.1 billion, and intangible assets rose to $20.3 billion, which warrant monitoring.
  3. 8-KApple Inc. 8-K Report, Financial Results (Apr 30, 2026)Apple reported fiscal Q2 2026 (quarter ended March 28, 2026) results that were strong across the board. Net sales rose 17% year over year to $111.2 billion, and diluted EPS rose 22% to $2.01. iPhone revenue grew about 22% to $57.0 billion, a March-quarter record, and Services grew about 16% to a record $31.0 billion. Greater China was the standout region, up about 28%, and every geographic segment grew double digits. Gross margin expanded about 220 basis points to 49.3%, driven by Products margin improvement (about 38.7% versus 35.9%) and a higher Services margin (about 76.7%). Operating income rose about 21% to $35.9 billion, and operating margin improved to about 32.3% from 31.0%. R&D spending grew about 34%, a notable step-up in investment. Cash generation was robust. Six-month operating cash flow was $82.6 billion, up from $53.9 billion, and capital expenditures fell to $4.3 billion from $6.0 billion, implying free cash flow of roughly $78 billion. Management used this cash for shareholder returns: the board raised the quarterly dividend 4% to $0.27 per share and authorized a new $100 billion buyback. Six-month repurchases were $37.0 billion, below the $49.5 billion of the prior-year period, so the pace of buybacks slowed even as cash flow grew. Net cash (cash plus marketable securities of about $146.6 billion, less roughly $84.7 billion of total debt) remained strong at about $62 billion. Several balance sheet items merit monitoring. Intangible assets, net, nearly doubled to $21.3 billion from $11.1 billion, and other non-current liabilities rose to $55.5 billion from $41.5 billion. The filing does not explain these changes, so investors should review the 10-Q for detail. Accounts payable declined to $57.3 billion from $69.9 billion, and vendor non-trade receivables fell, which affects working capital comparisons. Total shareholders' equity increased to $106.5 billion from $73.7 billion, largely reflecting retained earnings turning positive.
  4. 8-KApple Inc. 8-K Report, Executive Changes (Apr 20, 2026)Apple Inc. (AAPL) has announced a significant leadership transition, with CEO Tim Cook stepping down from his executive role to become Executive Chair of the Board, effective September 1, 2026. This move marks the end of Cook's tenure as CEO, during which he oversaw substantial growth and innovation for the company. Concurrently, John Ternus, currently Senior Vice President of Hardware Engineering, will assume the position of Chief Executive Officer and join the Board, also effective September 1, 2026. This leadership change signals a new chapter for Apple, with Ternus, a long-time Apple employee with deep experience in hardware engineering and product development, set to lead the company into its next phase. Art Levinson, the current Chair, will transition to Lead Independent Director, ensuring continued experienced guidance. Investors should monitor how Ternus's leadership impacts Apple's strategic direction and product innovation, while Tim Cook's continued presence on the Board as Executive Chair is expected to provide valuable continuity and strategic oversight.
  5. 8-KApple Inc. 8-K Report, Shareholder Vote Results (Feb 24, 2026)Apple Inc. (AAPL) held its 2026 Annual Meeting of Shareholders on February 24, 2026, with the primary purpose being the voting on several key corporate governance matters. The filing details the outcomes of these shareholder votes, providing insights into the confidence shareholders place in the company's leadership and strategic direction. The results indicate strong support for the incumbent board of directors, the ratification of the independent auditor, and the executive compensation plan, signaling continued confidence from the investor base in Apple's management and financial oversight. However, a notable outcome was the rejection of a shareholder proposal concerning a "China Entanglement Audit," suggesting that a significant portion of shareholders did not support this specific line of inquiry or action. The approval of the amended and restated Non-Employee Director Stock Plan also underscores a commitment to aligning director incentives with shareholder interests. Overall, the meeting's outcomes are largely favorable, reflecting shareholder endorsement of Apple's current governance and operational framework.
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04—See also

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