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"## UNITED STATES SECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549 ## FORM 10-Q\n\n<!-- image -->\n\n(Mark One)\n\n\u2612 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended April 1, 2023\n\nor\n\n\u2610 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from to .\n\nCommission File Number: 001-36743 ## Apple Inc.\n\n(Exact name of Registrant as specified in its charter)\n\nCalifornia\n\n94-2404110\n\n(State or other jurisdiction of incorporation or organization)\n\n(I.R.S. Employer Identification No.)\n\nOne Apple Park Way Cupertino, California\n\n95014\n\n(Address of principal executive offices)\n\n(Zip Code) ## (408) 996-1010\n\n(Registrant's telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each class\n\nTrading symbol(s)\n\nName of each exchange on which registered\n\nCommon Stock, $0.00001 par value per share\n\nAAPL\n\nThe Nasdaq Stock Market LLC\n\n1.375% Notes due 2024\n\n-\n\nThe Nasdaq Stock Market LLC\n\n0.000% Notes due 2025\n\n-\n\nThe Nasdaq Stock Market LLC\n\n0.875% Notes due 2025\n\n-\n\nThe Nasdaq Stock Market LLC\n\n1.625% Notes due 2026\n\n-\n\nThe Nasdaq Stock Market LLC\n\n2.000% Notes due 2027\n\n-\n\nThe Nasdaq Stock Market LLC\n\n1.375% Notes due 2029\n\n-\n\nThe Nasdaq Stock Market LLC\n\n3.050% Notes due 2029\n\n-\n\nThe Nasdaq Stock Market LLC\n\n0.500% Notes due 2031\n\n-\n\nThe Nasdaq Stock Market LLC\n\n3.600% Notes due 2042\n\n-\n\nThe Nasdaq Stock Market LLC\n\nIndicate 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 that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\n\nYes \u2612\n\nNo \u2610\n\nIndicate 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 (\u00a7232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).\n\nYes \u2612\n\nNo \u2610\n\nIndicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging 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.\n\nLarge accelerated filer\n\n\u2612\n\nAccelerated filer\n\n\u2610\n\nNon-accelerated filer\n\n\u2610\n\nSmaller reporting company\n\n\u2610\n\n\u2610\n\nEmerging growth company\n\nIf 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. \u2610\n\nIndicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).\n\nYes \u2610\n\nNo \u2612\n\n15,728,702,000 shares of common stock were issued and outstanding as of April 21, 2023. ## Apple Inc. ## Form 10-Q ## For the Fiscal Quarter Ended April 1, 2023 ## TABLE OF CONTENTS\n\n| | | Page |\n|----------|---------------------------------------------------------------------------------------|--------|\n| Part | I | |\n| Item 1. | Financial Statements | 1 |\n| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | 14 |\n| Item 3. | Quantitative and Qualit
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"## Item 1. Financial Statements ## Apple Inc. ## CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)\n\n(In millions, except number of shares which are reflected in thousands and per share amounts)\n\n| | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |\n|----------------------------------------------|----------------------|----------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | April 1, 2023 | March 26, 2022 |\n| Net sales: | | | | |\n| Products | $ 73,929 | $ 77,457 | $ 170,317 | $ 181,886 |\n| Services | 20,907 | 19,821 | 41,673 | 39,337 |\n| Total net sales | 94,836 | 97,278 | 211,990 | 221,223 |\n| Cost of sales: | | | | |\n| Products | 46,795 | 49,290 | 107,560 | 113,599 |\n| Services | 6,065 | 5,429 | 12,122 | 10,822 |\n| Total cost of sales | 52,860 | 54,719 | 119,682 | 124,421 |\n| Gross margin | 41,976 | 42,559 | 92,308 | 96,802 |\n| Operating expenses: | | | | |\n| Research and development | 7,457 | 6,387 | 15,166 | 12,693 |\n| Selling, general and administrative | 6,201 | 6,193 | 12,808 | 12,642 |\n| Total operating expenses | 13,658 | 12,580 | 27,974 | 25,335 |\n| Operating income | 28,318 | 29,979 | 64,334 | 71,467 |\n| Other income/(expense), net | 64 | 160 | (329) | (87) |\n| Income before provision for income taxes | 28,382 | 30,139 | 64,005 | 71,380 |\n| Provision for income taxes | 4,222 | 5,129 | 9,847 | 11,740 |\n| Net income | $ 24,160 | $ 25,010 | $ 54,158 | $ 59,640 |\n| Earnings per share: | | | | |\n| Basic | $ 1.53 | $ 1.54 | $ 3.42 | $ 3.65 |\n| Diluted | $ 1.52 | $ 1.52 | $ 3.41 | $ 3.62 |\n| Shares used in computing earnings per share: | | | | |\n| Basic | 15,787,154 | 16,278,802 | 15,839,939 | 16,335,263 |\n| Diluted | 15,847,050 | 16,403,316 | 15,901,384 | 16,461,304 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements. ## Apple Inc. ## CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
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"## CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited)\n\n(In millions, except per share amounts)\n\n| | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |\n|------------------------------------------------------------------------|----------------------|----------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | April 1, 2023 | March 26, 2022 |\n| Total shareholders' equity, beginning balances | $ 56,727 | $ 71,932 | $ 50,672 | $ 63,090 |\n| Common stock and additional paid-in capital: | | | | |\n| Beginning balances | 66,399 | 58,424 | 64,849 | 57,365 |\n| Common stock issued | 690 | 593 | 690 | 593 |\n| Common stock withheld related to net share settlement of equity awards | (281) | (149) | (1,715) | (1,412) |\n| Share-based compensation | 2,760 | 2,313 | 5,744 | 4,635 |\n| Ending balances | 69,568 | 61,181 | 69,568 | 61,181 |\n| Retained earnings/(Accumulated deficit): | | | | |\n| Beginning balances | 3,240 | 14,435 | (3,068) | 5,562 |\n| Net income | 24,160 | 25,010 | 54,158 | 59,640 |\n| Dividends and dividend equivalents declared | (3,684) | (3,633) | (7,396) | (7,298) |\n| Common stock withheld related to net share settlement of equity awards | (152) | (190) | (1,130) | (1,920) |\n| Common stock repurchased | (19,228) | (22,910) | (38,228) | (43,272) |\n| Ending balances | 4,336 | 12,712 | 4,336 | 12,712 |\n| Accumulated other comprehensive income/(loss): | | | | |\n| Beginning balances | (12,912) | (927) | (11,109) | 163 |\n| Other comprehensive income/(loss) | 1,166 | (5,567) | (637) | (6,657) |\n| Ending balances | (11,746) | (6,494) | (11,746) | (6,494) |\n| Total shareholders' equity, ending balances | $ 62,158 | $ 67,399 | $ 62,158 | $ 67,399 |\n| Dividends and dividend equivalents declared per share or RSU | $ 0.23 | $ 0.22 | $ 0.46 | $ 0.44 |\n\nSee accompanying Notes to Condensed Consolidated Financial Statements. ## Apple Inc.",
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"## CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)\n\n(In millions)\n\n| | Six Months Ended April 1, March 26, | Six Months Ended April 1, March 26, |\n|--------------------------------------------------------------------------------|---------------------------------------|---------------------------------------|\n| Cash, cash equivalents and restricted cash, beginning balances | 2023 $ 24,977 | 2022 $ 35,929 |\n| Operating activities: | | |\n| Net income | 54,158 | 59,640 |\n| Adjustments to reconcile net income to cash generated by operating activities: | | |\n| Depreciation and amortization | 5,814 | 5,434 |\n| Share-based compensation expense | 5,591 | 4,517 |\n| Other | (1,732) | 1,068 |\n| Changes in operating assets and liabilities: | | |\n| Accounts receivable, net | 9,596 | 5,542 |\n| Inventories | (2,548) | 1,065 |\n| Vendor non-trade receivables | 14,785 | 643 |\n| Other current and non-current assets | (4,092) | (3,542) |\n| Accounts payable | (20,764) | (1,750) |\n| Other current and non-current liabilities | 1,757 | 2,515 |\n| Cash generated by operating activities | 62,565 | 75,132 |\n| Investing activities: | | |\n| Purchases of marketable securities | (11,197) | (61,987) |\n| Proceeds from maturities of marketable securities | 17,124 | 18,000 |\n| Proceeds from sales of marketable securities | 1,897 | 24,668 |\n| Payments for acquisition of property, plant and equipment | (6,703) | (5,317) |\n| Other | (247) | (735) |\n| Cash generated by/(used in) investing activities | 874 | (25,371) |\n| Financing activities:
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"## Note 2 - Revenue\n\nNet sales disaggregated by significant products and services for the three- and six-month periods ended April 1, 2023 and March 26, 2022 were as follows (in millions):\n\n| | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |\n|---------------------------------|----------------------|----------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | April 1, 2023 | March 26, 2022 |\n| iPhone \u00ae | $ 51,334 | $ 50,570 | $ 117,109 | $ 122,198 |\n| Mac \u00ae | 7,168 | 10,435 | 14,903 | 21,287 |\n| iPad \u00ae | 6,670 | 7,646 | 16,066 | 14,894 |\n| Wearables, Home and Accessories | 8,757 | 8,806 | 22,239 | 23,507 |\n| Services | 20,907 | 19,821 | 41,673 | 39,337 |\n| Total net sales | $ 94,836 | $ 97,278 | $ 211,990 | $ 221,223 |\n\nTotal net sales include $3.5 billion of revenue recognized in the three months ended April 1, 2023 that was included in deferred revenue as of December 31, 2022, $3.0 billion of revenue recognized in the three months ended March 26, 2022 that was included in deferred revenue as of December 25, 2021, $5.5 billion of revenue recognized in the six months ended April 1, 2023 that was included in deferred revenue as of September 24, 2022, and $4.8 billion of revenue recognized in the six months ended March 26, 2022 that was included in deferred revenue as of September 25, 2021.\n\nThe Company's proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 10, 'Segment Information and Geographic Data' for the three- and six-month periods ended April 1, 2023 and March 26, 2022, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales.\n\nAs of April 1, 2023 and September 24, 2022, the Company had total deferred revenue of $12.5 billion and $12.4 billion, respectively. As of April 1, 2023, the Company expects 65% of total deferred revenue to be realized in less than a year, 26% within one-to-two years, 7% within two-to-three years and 2% in greater than three years. ## Note 3 - Financial Instruments ## Cash, Cash Equivalents and Marketable Securities\n\nThe following tables show the Company's cash, cash equivalents and marketable securities by significant investment category as of April 1, 2023 and September 24, 2022 (in millions):\n\n| | April 1, 2023 | April 1, 2023 | April 1, 2023 | April 1, 2023 | April 1, 2023 | April 1, 2023 | April 1, 2023 |\n|-------------------------------------------|-----------------|------------------|-------------------|-----------------|---------------------------|-------------------------------|-----------------------------------|\n| | Adjusted Cost | Unrealized Gains | Unrealized Losses | Fair Value | Cash and Cash Equivalents | Current Marketable Securities | Non-Current Marketable Securities |\n| Cash | $ 20,050 | $ - | $ - | $ 20,050 | $ 20,050 | $ - | $ - |\n| Level 1 : (1) | | | | | | | |\n| Money market funds | 1,656 | -
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"## Foreign Exchange Risk\n\nTo protect gross margins from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, option contracts or other instruments, and may designate these instruments as cash flow hedges. The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to 12 months.\n\nTo protect the Company's foreign currency-denominated term debt or marketable securities from fluctuations in foreign currency exchange rates, the Company may enter into forward contracts, cross-currency swaps or other instruments. The Company designates these instruments as either cash flow or fair value hedges. As of April 1, 2023, 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 19 years.\n\nThe Company may also enter into derivative instruments that are not designated as accounting hedges to protect gross margins from certain fluctuations in foreign currency exchange rates, as well as to offset a portion of the foreign currency exchange gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies. ## Interest Rate Risk\n\nTo protect the Company's term debt or marketable securities from fluctuations in interest rates, the Company may enter into interest rate swaps, options or other instruments. The Company designates these instruments as either cash flow or fair value hedges.\n\nThe notional amounts of the Company's outstanding derivative instruments as of April 1, 2023 and September 24, 2022 were as follows (in millions):\n\n| | April 1, 2023 | September 24, 2022 |\n|-------------------------------------------------------------|-----------------|----------------------|\n| Derivative instruments designated as accounting hedges: | | |\n| Foreign exchange contracts | $ 51,119 | $ 102,670 |\n| Interest rate contracts | $ 19,375 | $ 20,125 |\n| Derivative instruments not designated as accounting hedges: | | |\n| Foreign exchange contracts | $ 111,696 | $ 185,381 |\n\nThe gross fair values of the Company's derivative assets and liabilities as of September 24, 2022 were as follows (in millions):\n\n| | September 24, 2022 | September 24, 2022 | September 24, 2022 |\n|------------------------------|-----------------------------------------------------------|---------------------------------------------------------------|----------------------|\n| | Fair Value of Derivatives Designated as Accounting Hedges | Fair Value of Derivatives Not Designated as Accounting Hedges | Total Fair Value |\n| Derivative assets : (1) | | | |\n| Foreign exchange contracts | $ 4,317 | $ 2,819 | $ 7,136 |\n| Derivative liabilities : (2) | | | |\n| Foreign exchange contracts | $ 2,205 | $ 2,547 | $ 4,752 |\n| Interest rate contracts | $ 1,367 | $ - | $ 1,3
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"## Note 7 - Shareholders' Equity ## Share Repurchase Program\n\nDuring the six months ended April 1, 2023, the Company repurchased 262 million shares of its common stock under an authorized share repurchase program for $38.1 billion, excluding excise tax due under the Inflation Reduction Act of 2022. The program does not obligate the Company to acquire a minimum amount of shares. Under the program, shares may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. ## Note 8 - Benefit Plans ## Restricted Stock Units\n\nA summary of the Company's RSU activity and related information for the six months ended April 1, 2023 is as follows:\n\n| | Number of RSUs (in thousands) | Weighted-Average Grant Date Fair Value Per RSU | Aggregate Fair Value (in millions) |\n|----------------------------------|---------------------------------|--------------------------------------------------|--------------------------------------|\n| Balance as of September 24, 2022 | 201,501 | $ 109.48 | |\n| RSUs granted | 84,902 | $ 149.73 | |\n| RSUs vested | (54,795) | $ 86.72 | |\n| RSUs canceled | (4,671) | $ 122.79 | |\n| Balance as of April 1, 2023 | 226,937 | $ 129.76 | $ 37,422 |\n\nThe fair value as of the respective vesting dates of RSUs was $1.1 billion and $8.0 billion for the three- and six-month periods ended April 1, 2023, respectively, and was $1.0 billion and $9.5 billion for the three- and six-month periods ended March 26, 2022, respectively. ## Share-Based Compensation\n\nThe following table shows share-based compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three- and six-month periods ended April 1, 2023 and March 26, 2022 (in millions):\n\n| | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended |\n|----------------------------------------------------------------|----------------------|----------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | April 1, 2023 | March 26, 2022 |\n| Share-based compensation expense | $ 2,686 | $ 2,252 | $ 5,591 | $ 4,517 |\n| Income tax benefit related to share-based compensation expense | $ (620) | $ (649) | $ (1,798) | $ (2,185) |\n\nAs of April 1, 2023, the total unrecognized compensation cost related to outstanding RSUs and stock options was $23.2 billion, which the Company expects to recognize over a weighted-average period of 2.8 years. ## Note 9 - Commitments and Contingencies ## Unconditional Purchase Obligations\n\nThe Company has entered into certain off-balance sheet commitments that require the future purchase of goods or services ('unconditional purchase obligations'). The Company's unconditional purchase obligations primarily consist of supplier arrangements, licensed content and distribution rights. Future payments under noncancelable unconditional purchase obligations with a remaining term in excess of one year as of April 1, 2023, are as follows (in millions):\n\n| 2023 (remaining six months) | $
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"## Fiscal Period\n\nThe Company's 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 Company's fiscal quarters with calendar quarters, which occurred in the first quarter of 2023. The Company's fiscal years 2023 and 2022 span 53 and 52 weeks, respectively. ## Quarterly Highlights\n\nWeakness in foreign currencies relative to the U.S. dollar had an unfavorable impact on the Company's total net sales, which decreased 3% or $2.4 billion during the second quarter of 2023 compared to the same quarter in 2022. The year-over-year net sales decrease consisted primarily of lower net sales of Mac, partially offset by higher net sales of Services.\n\nDuring the second quarter of 2023, the Company announced the following new products: - \u00b7 MacBook Pro 14' and MacBook Pro 16', powered by the Apple M2 Pro and M2 Max chip; \u00ae\n- \u00b7 Mac mini \u00ae , powered by the Apple M2 and M2 Pro chip; and\n- \u00b7 Second-generation HomePod \u00ae .\n\nThe Company repurchased $19.1 billion of its common stock and paid dividends and dividend equivalents of $3.7 billion during the second quarter of 2023. ## Macroeconomic Conditions\n\nMacroeconomic conditions, including inflation, changes in interest rates, and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company's results of operations and financial condition. ## Segment Operating Performance\n\nThe following table shows net sales by reportable segment for the three- and six-month periods ended April 1, 2023 and March 26, 2022 (dollars in millions):\n\n| | Three Months Ended | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | Six Months Ended |\n|----------------------------------|----------------------|----------------------|----------------------|--------------------|--------------------|--------------------|\n| | April 1, 2023 | March 26, 2022 | Change | April 1, 2023 | March 26, 2022 | Change |\n| Net sales by reportable segment: | | | | | | |\n| Americas | $ 37,784 | $ 40,882 | (8)% | $ 87,062 | $ 92,378 | (6)% |\n| Europe | 23,945 | 23,287 | 3 % | 51,626 | 53,036 | (3)% |\n| Greater China | 17,812 | 18,343 | (3)% | 41,717 | 44,126 | (5)% |\n| Japan | 7,176 | 7,724 | (7)% | 13,931 | 14,831 | (6)% |\n| Rest of Asia Pacific | 8,119 | 7,042 | 15 % | 17,654 | 16,852 | 5 % |\n| Total net sales | $ 94,836 | $ 97,278 | (3)% | $ 211,990 | $ 221,223 | (4)% | ## Americas\n\nAmericas net sales decreased during the second quarter and first six months of 2023 compared to the same periods in 2022 due primarily to lower net sales of iPhone and Mac, partially offset by higher net sales of Services. ## Europe\n\nThe weakness in foreign currencies relative to the U.S. dollar had a net unfavorable year-over-year impact on Europe net sales during the second quarter and first six months of 2023. During the second quarter of 2023, the Europe net sales increase consisted primarily of higher net sales of iPhone, partially offset by lower net sales of Mac. During the first six months of 2023, the Europe net sales decrease consisted primar
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"## Critical Accounting Estimates\n\nThe preparation of financial statements and related disclosures in conformity with U.S. generally accepted accounting principles and the Company's discussion and analysis of its financial condition and operating results require the Company's 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 this Form 10-Q and in the Notes to Consolidated Financial Statements in Part II, Item 8 of the 2022 Form 10-K describe the significant accounting policies and methods used in the preparation of the Company's condensed consolidated financial statements. There have been no material changes to the Company's critical accounting estimates since the 2022 Form 10-K. ## Item 3. Quantitative and Qualitative Disclosures About Market Risk\n\nThere have been no material changes to the Company's market risk during the first six months of 2023. For a discussion of the Company's exposure to market risk, refer to the Company's market risk disclosures set forth in Part II, Item 7A, 'Quantitative and Qualitative Disclosures About Market Risk' of the 2022 Form 10-K. ## Item 4. Controls and Procedures ## Evaluation of Disclosure Controls and Procedures\n\nBased on an evaluation under the supervision and with the participation of the Company's management, the Company's principal executive officer and principal financial officer have concluded that the Company's disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the 'Exchange Act') were effective as of April 1, 2023 to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms and (ii) accumulated and communicated to the Company's management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure. ## Changes in Internal Control over Financial Reporting\n\nThere were no changes in the Company's internal control over financial reporting during the second quarter of 2023, which were identified in connection with management's 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 Company's internal control over financial reporting. ## PART II - OTHER INFORMATION ## Item 1. Legal Proceedings ## Epic Games\n\nEpic Games, Inc. ('Epic') filed a lawsuit in the U.S. District Court for the Northern District of California (the 'Northern California District Court') against the Company alleging violations of federal and state antitrust laws and California's unfair competition law based upon the Company's operation of its App Store \u00ae . The Company filed a counterclaim for breach of contract. On September 10, 2021, the Northern California District Court ruled in favor of the Company with respect to nine out of the ten counts included in Epic's claim, and in favor of the Company with respect to the Company's claims for breach of contract. The Northern California District Court found that certain provisions of the Company's App Store Review Guidelines violate California's unfair competition law and issued an injunction. On April 24, 2023, the U.S. Court of Appeals for the Ninth Circuit affirmed the Northern California District Court's ruling. The Company is considering further review of the decision. ## Other Legal Proceedings\n\nThe Company is subject to other legal proceedings and claims that have not been fully resolved and that have arisen in the ordinary course of business. The Company settled certain matters during the second quarter of 2023 that did
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"## Item 4. Mine Safety Disclosures\n\nNot applicable. ## Item 5. Other Information ## Rule 10b5-1 Trading Plans\n\nDuring the three months ended April 1, 2023, Katherine L. Adams, Timothy D. Cook, Luca Maestri, Deirdre O'Brien and Jeffrey Williams, each an officer for purposes of Section 16 of the Exchange Act, had equity trading plans in place in accordance with Rule 10b5-1(c)(1) under the Exchange Act. An equity trading plan is a written document that preestablishes the amounts, prices and dates (or formula for determining the amounts, prices and dates) of future purchases or sales of the Company's stock, including sales of shares acquired under the Company's employee and director equity plans. ## Item 6. Exhibits\n\n| | | Incorporated by Reference | Incorporated by Reference | Incorporated by Reference |\n|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|-----------------------------|------------------------------|\n| Exhibit Number | Exhibit Description | Form | Exhibit | Filing Date/ Period End Date |\n| 31.1* | Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer. | | | |\n| 31.2* | Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer. | | | |\n| 32.1** | Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer. | | | |\n| 101* | Inline XBRL Document Set for the condensed consolidated financial statements and accompanying notes in Part I, Item 1, 'Financial Statements' of this Quarterly Report on Form 10-Q. | | | |\n| 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.\n- ** Furnished herewith. ## SIGNATURE\n\nPursuant 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 thereunto duly authorized.\n\nDate: May 4, 2023\n\nApple Inc.\n\nBy:\n\n/s/ Luca Maestri\n\nLuca Maestri Senior Vice President, Chief Financial Officer\n\nApple Inc. | Q2 2023 Form 10-Q | 22 - I, Timothy D. Cook, certify that:\n- 1. I have reviewed this quarterly report on Form 10-Q of Apple Inc.;\n- 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;\n- 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material re
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