Apple Inc.

Company facts

Industry

Electronic Computers

Headquarters

Cupertino, California

Most recent report

10-K, filed Nov 3, 2026

Incorporated

California

Filings on record

1,006+ filings

On EDGAR

CIK 320193

Fiscal year ends

September

Filer status

Large accelerated filer

What to read: FY2026 10-K

SECSift found 5 of 27 sections worth reading, with 0 positive, 5 notable, and 10 negative flags.

• Risk Factors (Item 1A)

  New tariff impacts from Q2 2025, AI-specific risks, and Google search revenue exposure are company-specific.
  Notable

  • AI integration introduces risks from nondeterministic outputs, autonomous agent actions, and increased cybersecurity threats like deepfakes.
  Negative

  • New tariffs on imports from China, India, Japan, South Korea, Taiwan, Vietnam, and EU announced Q2 2025, with uncertain impact and potential retaliatory measures.
  • Supply constraints and rising costs for advanced semiconductors, memory, and storage are expected to intensify, especially for memory and storage.
  • U.S. court injunction prevents Apple from charging commissions on digital goods sold via external links in iOS/iPadOS apps, with Supreme Court review ongoing.
  • Google search licensing revenue at risk after antitrust ruling; remedies could prohibit Google from offering commercial terms for search distribution.

• Legal Proceedings (Item 3)

  Three active major antitrust cases with fines, injunctions, and Supreme Court review.
  Negative

  • EU fined Apple €500 million in April 2025; second probe could fine up to 10% of annual worldwide net sales.
  • DOJ civil antitrust lawsuit seeks equitable relief for alleged smartphone monopolization; outcome uncertain.

• Market for the Stock (Item 5)

  New $100B buyback program and $10B ASR details; share count and performance data.
  Notable

  • 21,458 shareholders of record as of October 23, 2026.
  • New $100B buyback program announced April 30, 2026, adding to prior $100B program with $14.0B remaining.

• Management's Discussion (Item 7)

  Full-year results with segment and product detail, tariff exposure, and a $100B buyback program.
  Notable

  • Manufacturing purchase obligations total $89.7B as of Sept 2026, with $82.7B due within 12 months.
  Negative

  • Tariffs on imports from China, India, EU, and others could materially impact supply chain and gross margin.

• Financial Statements (Item 8)

  Full financial statements and notes with company-specific numbers and risks.
  Notable

  • One customer represented 13% of trade receivables in FY2026, up from 12% in FY2025, showing customer concentration.
  Negative

  • Gross unrecognized tax benefits of $22.5B, with $10.6B that would impact the effective tax rate if recognized.
  • Cash paid for income taxes was $34.6B in FY2026, down from $43.4B in FY2025 but still a large cash outflow.
  • Variable lease costs rose to $17.7B in FY2026 from $16.1B in FY2025, a 10% increase, adding to operating expenses.

What changed: FY2026 vs. FY2025

About 9% of AAPL's FY2026 10-K is new information. 52 paragraphs were added, 210 changed, and 68 removed. Below are the most important lines SECSift identified.

• Risk Factors (Item 1A) 81
• Financial Statements (Item 8) 68
• Management's Discussion (Item 7) 41
• Business (Item 1) 16
• Form 10-K Summary (Item 16) 13
• Market for the Stock (Item 5) 5
• Controls and Procedures (Item 9A) 4
• Legal Proceedings (Item 3) 2
• Other Information (Item 9B) 1