Key insights
7 takeaways · ~3 min read- 01Apple's cash, cash equivalents, and marketable securities totaled $140.8 billion as of September 28, 2024, which they believe is sufficient to cover cash requirements and their capital return program.
- 02The company reported net income of $93.736 billion for the fiscal year ended September 28, 2024, a decrease from $96.995 billion in 2023 and $99.803 billion in 2022.
- 03Apple's total shareholders' equity as of September 28, 2024, was $56.950 billion, up from $62.146 billion in 2023 and $50.672 billion in 2022.
- 04The company's effective tax rate in 2024 was higher than in 2023, primarily due to a one-time income tax charge of $10.2 billion related to a State Aid Decision, a higher effective tax rate on foreign earnings, and lower tax benefits from share-based compensation.
- 05Apple offers a game subscription service called Apple Arcade® as part of its digital content offerings, alongside other subscription services like Apple Fitness+SM, Apple Music®, Apple News+®, and Apple TV+®.
- 06The company faces significant risks from international trade restrictions, particularly between the U.S. and China, which can increase costs, disrupt supply chains, and force changes in business operations.
- 07Apple manages its business geographically, with reportable segments including the Americas, Europe, Greater China, Japan, and Rest of Asia Pacific, each managed separately to align with local market dynamics.
Summary
SEC 10-K filing for Apple, filed 2024-11-01.
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