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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
August 1, 2024
Date of Report (Date of earliest event reported)
g325078g0426062022046a24.jpg
Apple Inc.
(Exact name of Registrant as specified in its charter)

California 001-36743 94-2404110
(State or other jurisdiction
of incorporation)
 (Commission
File Number)
 (I.R.S. Employer
Identification No.)
One Apple Park Way
Cupertino, California 95014
(Address of principal executive offices) (Zip Code)
(408) 996-1010
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)Name of each exchange on which registered
Common Stock, $0.00001 par value per shareAAPLThe Nasdaq Stock Market LLC
0.000% Notes due 2025The Nasdaq Stock Market LLC
0.875% Notes due 2025The Nasdaq Stock Market LLC
1.625% Notes due 2026The Nasdaq Stock Market LLC
2.000% Notes due 2027The Nasdaq Stock Market LLC
1.375% Notes due 2029The Nasdaq Stock Market LLC
3.050% Notes due 2029The Nasdaq Stock Market LLC
0.500% Notes due 2031The Nasdaq Stock Market LLC
3.600% Notes due 2042The Nasdaq Stock Market LLC
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging 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.



Item 2.02    Results of Operations and Financial Condition.
On August 1, 2024, Apple Inc. (“Apple”) issued a press release regarding Apple’s financial results for its third fiscal quarter ended June 29, 2024. A copy of Apple’s press release is attached hereto as Exhibit 99.1.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
 
Item 9.01    Financial Statements and Exhibits.
(d)Exhibits.
Exhibit
Number
Exhibit Description
99.1
104Inline XBRL for the cover page of this Current Report on Form 8-K.



SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:August 1, 2024Apple Inc.
By:/s/ Luca Maestri
Luca Maestri
Senior Vice President,
Chief Financial Officer


Exhibit 99.1


Apple reports third quarter results

June quarter records for Revenue and EPS

Services revenue reaches new all-time high

CUPERTINO, CALIFORNIA — Apple® today announced financial results for its fiscal 2024 third quarter ended June 29, 2024. The Company posted quarterly revenue of $85.8 billion, up 5 percent year over year, and quarterly earnings per diluted share of $1.40, up 11 percent year over year.

“Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” said Tim Cook, Apple’s CEO. “During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the core of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers’ lives, while leading with the values that drive our work.”

“During the quarter, our record business performance generated EPS growth of 11 percent and nearly $29 billion in operating cash flow, allowing us to return over $32 billion to shareholders,” said Luca Maestri, Apple’s CFO. “We are also very pleased that our installed base of active devices reached a new all-time high in all geographic segments, thanks to very high levels of customer satisfaction and loyalty.”

Apple’s board of directors has declared a cash dividend of $0.25 per share of the Company’s common stock. The dividend is payable on August 15, 2024 to shareholders of record as of the close of business on August 12, 2024.

Apple will provide live streaming of its Q3 2024 financial results conference call beginning at 2:00 p.m. PT on August 1, 2024 at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.



This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about payment of the Company’s quarterly dividend and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

Press Contact:
Josh Rosenstock
Apple
jrosenstock@apple.com
(408) 862-1142

Investor Relations Contact:
Suhasini Chandramouli
Apple
suhasini@apple.com
(408) 974-3123


NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.

© 2024 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.




Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and per-share amounts)
Three Months EndedNine Months Ended
June 29,
2024
July 1,
2023
June 29,
2024
July 1,
2023
Net sales:
   Products$61,564 $60,584 $224,908 $230,901 
   Services24,213 21,213 71,197 62,886 
Total net sales (1)
85,777 81,797 296,105 293,787 
Cost of sales:
   Products39,803 39,136 140,667 146,696 
   Services6,296 6,248 18,634 18,370 
Total cost of sales46,099 45,384 159,301 165,066 
Gross margin39,678 36,413 136,804 128,721 
Operating expenses:
Research and development
8,006 7,442 23,605 22,608 
Selling, general and administrative
6,320 5,973 19,574 18,781 
Total operating expenses
14,326 13,415 43,179 41,389 
Operating income
25,352 22,998 93,625 87,332 
Other income/(expense), net
142 (265)250 (594)
Income before provision for income taxes
25,494 22,733 93,875 86,738 
Provision for income taxes
4,046 2,852 14,875 12,699 
Net income
$21,448 $19,881 $79,000 $74,039 
Earnings per share:
Basic
$1.40 $1.27 $5.13 $4.69 
Diluted
$1.40 $1.26 $5.11 $4.67 
Shares used in computing earnings per share:
Basic
15,287,521 15,697,614 15,401,047 15,792,497 
Diluted
15,348,175 15,775,021 15,463,175 15,859,263 
(1) Net sales by reportable segment:
Americas
$37,678 $35,383 $125,381 $122,445 
Europe
21,884 20,205 76,404 71,831 
Greater China
14,728 15,758 51,919 57,475 
Japan
5,097 4,821 19,126 18,752 
Rest of Asia Pacific
6,390 5,630 23,275 23,284 
Total net sales
$85,777 $81,797 $296,105 $293,787 
(1) Net sales by category:
iPhone
$39,296 $39,669 $154,961 $156,778 
Mac
7,009 6,840 22,240 21,743 
iPad
7,162 5,791 19,744 21,857 
Wearables, Home and Accessories
8,097 8,284 27,963 30,523 
Services
24,213 21,213 71,197 62,886 
Total net sales
$85,777 $81,797 $296,105 $293,787 




Apple Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and par value)

June 29,
2024
September 30,
2023
ASSETS:
Current assets:
Cash and cash equivalents
$25,565 $29,965 
Marketable securities
36,236 31,590 
Accounts receivable, net
22,795 29,508 
Vendor non-trade receivables
20,377 31,477 
Inventories
6,165 6,331 
Other current assets
14,297 14,695 
Total current assets
125,435 143,566 
Non-current assets:
Marketable securities
91,240 100,544 
Property, plant and equipment, net
44,502 43,715 
Other non-current assets
70,435 64,758 
Total non-current assets
206,177 209,017 
Total assets
$331,612 $352,583 
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable
$47,574 $62,611 
Other current liabilities
60,889 58,829 
Deferred revenue
8,053 8,061 
Commercial paper
2,994 5,985 
Term debt
12,114 9,822 
Total current liabilities
131,624 145,308 
Non-current liabilities:
Term debt
86,196 95,281 
Other non-current liabilities
47,084 49,848 
Total non-current liabilities
133,280 145,129 
Total liabilities
264,904 290,437 
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,222,259 and 15,550,061 shares issued and outstanding, respectively
79,850 73,812 
Accumulated deficit(4,726)(214)
Accumulated other comprehensive loss(8,416)(11,452)
Total shareholders’ equity
66,708 62,146 
Total liabilities and shareholders’ equity
$331,612 $352,583 




Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)

Nine Months Ended
June 29,
2024
July 1,
2023
Cash, cash equivalents and restricted cash, beginning balances$30,737 $24,977 
Operating activities:
Net income79,000 74,039 
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization8,534 8,866 
Share-based compensation expense8,830 8,208 
Other(1,964)(1,651)
Changes in operating assets and liabilities:
Accounts receivable, net6,697 7,609 
Vendor non-trade receivables11,100 13,111 
Inventories41 (2,570)
Other current and non-current assets(5,626)(4,863)
Accounts payable(15,171)(16,790)
Other current and non-current liabilities2,986 
Cash generated by operating activities91,443 88,945 
Investing activities:
Purchases of marketable securities(38,074)(20,956)
Proceeds from maturities of marketable securities39,838 27,857 
Proceeds from sales of marketable securities7,382 3,959 
Payments for acquisition of property, plant and equipment(6,539)(8,796)
Other(1,117)(753)
Cash generated by investing activities1,490 1,311 
Financing activities:
Payments for taxes related to net share settlement of equity awards(5,163)(5,119)
Payments for dividends and dividend equivalents(11,430)(11,267)
Repurchases of common stock(69,866)(56,547)
Proceeds from issuance of term debt, net— 5,228 
Repayments of term debt(7,400)(11,151)
Repayments of commercial paper, net(2,985)(5,971)
Other(191)(508)
Cash used in financing activities(97,035)(85,335)
Increase/(Decrease) in cash, cash equivalents and restricted cash(4,102)4,921 
Cash, cash equivalents and restricted cash, ending balances$26,635 $29,898 
Supplemental cash flow disclosure:
Cash paid for income taxes, net$19,230 $7,020 

v3.24.2.u1
Cover Page
Aug. 01, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Aug. 01, 2024
Entity Registrant Name Apple Inc.
Entity Incorporation, State or Country Code CA
Entity File Number 001-36743
Entity Tax Identification Number 94-2404110
Entity Address, Address Line One One Apple Park Way
Entity Address, City or Town Cupertino
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95014
City Area Code 408
Local Phone Number 996-1010
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000320193
Common Stock, $0.00001 par value per share  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $0.00001 par value per share
Trading Symbol AAPL
Security Exchange Name NASDAQ
0.000% Notes due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 0.000% Notes due 2025
No Trading Symbol Flag true
Security Exchange Name NASDAQ
0.875% Notes due 2025  
Entity Information [Line Items]  
Title of 12(b) Security 0.875% Notes due 2025
No Trading Symbol Flag true
Security Exchange Name NASDAQ
1.625% Notes due 2026  
Entity Information [Line Items]  
Title of 12(b) Security 1.625% Notes due 2026
No Trading Symbol Flag true
Security Exchange Name NASDAQ
2.000% Notes due 2027  
Entity Information [Line Items]  
Title of 12(b) Security 2.000% Notes due 2027
No Trading Symbol Flag true
Security Exchange Name NASDAQ
1.375% Notes due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 1.375% Notes due 2029
No Trading Symbol Flag true
Security Exchange Name NASDAQ
3.050% Notes due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 3.050% Notes due 2029
No Trading Symbol Flag true
Security Exchange Name NASDAQ
0.500% Notes due 2031  
Entity Information [Line Items]  
Title of 12(b) Security 0.500% Notes due 2031
No Trading Symbol Flag true
Security Exchange Name NASDAQ
3.600% Notes due 2042  
Entity Information [Line Items]  
Title of 12(b) Security 3.600% Notes due 2042
No Trading Symbol Flag true
Security Exchange Name NASDAQ

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