Apple (AAPL) 10-Q28 Apr 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares shares in Thousands	6 Months Ended
Cover Page - shares shares in Thousands	Mar. 26, 2022	Apr. 15, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 26, 2022
Document Transition Report	false
Entity File Number	001-36743
Entity Registrant Name	Apple Inc.
Entity Incorporation, State or Country Code	CA
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		16,185,181
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000320193
Current Fiscal Year End Date	--09-24
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.00001 par value per share
Trading Symbol	AAPL
Security Exchange Name	NASDAQ
1.000% Notes due 2022
Entity Information [Line Items]
Title of 12(b) Security	1.000% Notes due 2022
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ
1.375% Notes due 2024
Entity Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2024
No Trading Symbol Flag	true
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

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Net sales	$ 97,278	$ 89,584	$ 221,223	$ 201,023
Cost of sales	54,719	51,505	124,421	118,616
Gross margin	42,559	38,079	96,802	82,407
Operating expenses:
Research and development	6,387	5,262	12,693	10,425
Selling, general and administrative	6,193	5,314	12,642	10,945
Total operating expenses	12,580	10,576	25,335	21,370
Operating income	29,979	27,503	71,467	61,037
Other income/(expense), net	160	508	(87)	553
Income before provision for income taxes	30,139	28,011	71,380	61,590
Provision for income taxes	5,129	4,381	11,740	9,205
Net income	$ 25,010	$ 23,630	$ 59,640	$ 52,385
Earnings per share:
Basic (in dollars per share)	$ 1.54	$ 1.41	$ 3.65	$ 3.11
Diluted (in dollars per share)	$ 1.52	$ 1.40	$ 3.62	$ 3.08
Shares used in computing earnings per share:
Basic (in shares)	16,278,802	16,753,476	16,335,263	16,844,298
Diluted (in shares)	16,403,316	16,929,157	16,461,304	17,021,423
Products
Net sales	$ 77,457	$ 72,683	$ 181,886	$ 168,361
Cost of sales	49,290	46,447	113,599	108,577
Services
Net sales	19,821	16,901	39,337	32,662
Cost of sales	$ 5,429	$ 5,058	$ 10,822	$ 10,039

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 25,010	$ 23,630	$ 59,640	$ 52,385
Other comprehensive income/(loss):
Change in foreign currency translation, net of tax	(21)	(78)	(381)	471
Change in unrealized gains/losses on derivative instruments, net of tax:
Change in fair value of derivative instruments	334	332	696	28
Adjustment for net (gains)/losses realized and included in net income	(301)	759	(208)	576
Total change in unrealized gains/losses on derivative instruments	33	1,091	488	604
Change in unrealized gains/losses on marketable debt securities, net of tax:
Change in fair value of marketable debt securities	(5,633)	(1,403)	(6,809)	(775)
Adjustment for net (gains)/losses realized and included in net income	54	(75)	45	(180)
Total change in unrealized gains/losses on marketable debt securities	(5,579)	(1,478)	(6,764)	(955)
Total other comprehensive income/(loss)	(5,567)	(465)	(6,657)	120
Total comprehensive income	$ 19,443	$ 23,165	$ 52,983	$ 52,505

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Current assets:
Cash and cash equivalents	$ 28,098	$ 34,940
Marketable securities	23,413	27,699
Accounts receivable, net	20,815	26,278
Inventories	5,460	6,580
Vendor non-trade receivables	24,585	25,228
Other current assets	15,809	14,111
Total current assets	118,180	134,836
Non-current assets:
Marketable securities	141,219	127,877
Property, plant and equipment, net	39,304	39,440
Other non-current assets	51,959	48,849
Total non-current assets	232,482	216,166
Total assets	350,662	351,002
Current liabilities:
Accounts payable	52,682	54,763
Other current liabilities	50,248	47,493
Deferred revenue	7,920	7,612
Commercial paper	6,999	6,000
Term debt	9,659	9,613
Total current liabilities	127,508	125,481
Non-current liabilities:
Term debt	103,323	109,106
Other non-current liabilities	52,432	53,325
Total non-current liabilities	155,755	162,431
Total liabilities	283,263	287,912
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,207,568 and 16,426,786 shares issued and outstanding, respectively	61,181	57,365
Retained earnings	12,712	5,562
Accumulated other comprehensive income/(loss)	(6,494)	163
Total shareholders’ equity	67,399	63,090
Total liabilities and shareholders’ equity	$ 350,662	$ 351,002

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 26, 2022	Sep. 25, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	50,400,000,000	50,400,000,000
Common stock, shares issued (in shares)	16,207,568,000	16,426,786,000
Common stock, shares outstanding (in shares)	16,207,568,000	16,426,786,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common stock and additional paid-in capital	Retained earnings	Accumulated other comprehensive income/(loss)
Beginning balances at Sep. 26, 2020	$ 65,339	$ 50,779	$ 14,966	$ (406)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued		561
Common stock withheld related to net share settlement of equity awards		(1,236)	(2,047)
Share-based compensation		4,099
Net income	52,385		52,385
Dividends and dividend equivalents declared			(7,042)
Common stock repurchased			(43,001)
Other comprehensive income/(loss)	120			120
Ending balances at Mar. 27, 2021	$ 69,178	54,203	15,261	(286)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)	$ 0.41
Beginning balances at Dec. 26, 2020	$ 66,224	51,744	14,301	179
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued		561
Common stock withheld related to net share settlement of equity awards		(135)	(174)
Share-based compensation		2,033
Net income	23,630		23,630
Dividends and dividend equivalents declared			(3,495)
Common stock repurchased			(19,001)
Other comprehensive income/(loss)	(465)			(465)
Ending balances at Mar. 27, 2021	$ 69,178	54,203	15,261	(286)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)	$ 0.205
Beginning balances at Sep. 25, 2021	$ 63,090	57,365	5,562	163
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued		593
Common stock withheld related to net share settlement of equity awards		(1,412)	(1,920)
Share-based compensation		4,635
Net income	59,640		59,640
Dividends and dividend equivalents declared			(7,298)
Common stock repurchased	(43,300)		(43,272)
Other comprehensive income/(loss)	(6,657)			(6,657)
Ending balances at Mar. 26, 2022	$ 67,399	61,181	12,712	(6,494)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)	$ 0.44
Beginning balances at Dec. 25, 2021	$ 71,932	58,424	14,435	(927)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued		593
Common stock withheld related to net share settlement of equity awards		(149)	(190)
Share-based compensation		2,313
Net income	25,010		25,010
Dividends and dividend equivalents declared			(3,633)
Common stock repurchased			(22,910)
Other comprehensive income/(loss)	(5,567)			(5,567)
Ending balances at Mar. 26, 2022	$ 67,399	$ 61,181	$ 12,712	$ (6,494)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU)	$ 0.22

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Statement of Cash Flows [Abstract]
Cash, cash equivalents and restricted cash, beginning balances	$ 35,929	$ 39,789
Operating activities:
Net income	59,640	52,385
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization	5,434	5,463
Share-based compensation expense	4,517	4,001
Deferred income tax expense/(benefit)	1,088	(207)
Other	(20)	(474)
Changes in operating assets and liabilities:
Accounts receivable, net	5,542	(2,347)
Inventories	1,065	(1,226)
Vendor non-trade receivables	643	6,792
Other current and non-current assets	(3,542)	(4,333)
Accounts payable	(1,750)	(1,997)
Deferred revenue	627	1,642
Other current and non-current liabilities	1,888	3,045
Cash generated by operating activities	75,132	62,744
Investing activities:
Purchases of marketable securities	(61,987)	(74,424)
Proceeds from maturities of marketable securities	18,000	39,605
Proceeds from sales of marketable securities	24,668	21,645
Payments for acquisition of property, plant and equipment	(5,317)	(5,769)
Payments made in connection with business acquisitions, net	(167)	(9)
Other	(568)	0
Cash used in investing activities	(25,371)	(18,952)
Financing activities:
Payments for taxes related to net share settlement of equity awards	(3,218)	(3,160)
Payments for dividends and dividend equivalents	(7,327)	(7,060)
Repurchases of common stock	(43,109)	(43,323)
Proceeds from issuance of term debt, net	0	13,923
Repayments of term debt	(3,750)	(4,500)
Proceeds from commercial paper, net	999	22
Other	(105)	523
Cash used in financing activities	(56,510)	(43,575)
Increase/(Decrease) in cash, cash equivalents and restricted cash	(6,749)	217
Cash, cash equivalents and restricted cash, ending balances	29,180	40,006
Supplemental cash flow disclosure:
Cash paid for income taxes, net	9,301	10,276
Cash paid for interest	$ 1,406	$ 1,327

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Mar. 26, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Preparation The condensed consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Company”). Intercompany accounts and transactions have been eliminated. In the opinion of the Company’s management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these condensed consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current period’s presentation. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended September 25, 2021. The 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. The Company’s fiscal years 2022 and 2021 span 52 weeks each. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years. Earnings Per Share The following table shows the computation of basic and diluted earnings per share for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (net income in millions and shares in thousands): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Numerator: Net income $ 25,010 $ 23,630 $ 59,640 $ 52,385 Denominator: Weighted-average basic shares outstanding 16,278,802 16,753,476 16,335,263 16,844,298 Effect of dilutive securities 124,514 175,681 126,041 177,125 Weighted-average diluted shares 16,403,316 16,929,157 16,461,304 17,021,423 Basic earnings per share $ 1.54 $ 1.41 $ 3.65 $ 3.11 Diluted earnings per share $ 1.52 $ 1.40 $ 3.62 $ 3.08

Revenue

Revenue	6 Months Ended
Revenue	Mar. 26, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Net sales disaggregated by significant products and services for the three- and six-month periods ended March 26, 2022 and March 27, 2021 were as follows (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, iPhone ® (1) $ 50,570 $ 47,938 $ 122,198 $ 113,535 Mac ® (1) 10,435 9,102 21,287 17,777 iPad ® (1) 7,646 7,807 14,894 16,242 Wearables, Home and Accessories (1)(2) 8,806 7,836 23,507 20,807 Services (3) 19,821 16,901 39,337 32,662 Total net sales (4) $ 97,278 $ 89,584 $ 221,223 $ 201,023 (1) Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product. (2) Wearables, Home and Accessories net sales include sales of AirPods ® , Apple TV ® , Apple Watch ® , Beats ® products, HomePod mini ® , iPod touch ® and accessories. (3) Services net sales include sales from the Company’s advertising, AppleCare ® , cloud, digital content, payment and other services. Services net sales also include amortization of the deferred value of services bundled in the sales price of certain products. (4) Includes $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, $2.7 billion of revenue recognized in the three months ended March 27, 2021 that was included in deferred revenue as of December 26, 2020, $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, and $4.1 billion of revenue recognized in the six months ended March 27, 2021 that was included in deferred revenue as of September 26, 2020. The Company’s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 9, “Segment Information and Geographic Data” for the three- and six-month periods ended March 26, 2022 and March 27, 2021, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales. As of March 26, 2022 and September 25, 2021, the Company had total deferred revenue of $12.5 billion and $11.9 billion, respectively. As of March 26, 2022, the Company expects 63% of total deferred revenue to be realized in less than a year, 27% within one-to-two years, 8% within two-to-three years and 2% in greater than three years.

Financial Instruments

Financial Instruments	6 Months Ended
Financial Instruments	Mar. 26, 2022
Investments, All Other Investments [Abstract]
Financial Instruments	Financial Instruments Cash, Cash Equivalents and Marketable Securities The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of March 26, 2022 and September 25, 2021 (in millions): March 26, 2022 Adjusted Unrealized Unrealized Fair Cash and Current Non-Current Marketable Cash $ 14,298 $ — $ — $ 14,298 $ 14,298 $ — $ — Level 1 (1) : Money market funds 7,653 — — 7,653 7,653 — — Mutual funds 230 7 (9) 228 — 228 — Subtotal 7,883 7 (9) 7,881 7,653 228 — Level 2 (2) : Equity securities 1,527 — (1,132) 395 — 395 — U.S. Treasury securities 28,711 2 (1,037) 27,676 2,306 3,554 21,816 U.S. agency securities 6,561 — (407) 6,154 251 683 5,220 Non-U.S. government securities 18,868 44 (551) 18,361 25 4,526 13,810 Certificates of deposit and time deposits 2,872 — — 2,872 2,221 601 50 Commercial paper 2,913 — — 2,913 1,310 1,603 — Corporate debt securities 93,057 94 (4,266) 88,885 34 11,309 77,542 Municipal securities 990 1 (22) 969 — 162 807 Mortgage- and asset-backed securities 23,613 3 (1,290) 22,326 — 352 21,974 Subtotal 179,112 144 (8,705) 170,551 6,147 23,185 141,219 Total (3) $ 201,293 $ 151 $ (8,714) $ 192,730 $ 28,098 $ 23,413 $ 141,219 September 25, 2021 Adjusted Unrealized Unrealized Fair Cash and Current Non-Current Cash $ 17,305 $ — $ — $ 17,305 $ 17,305 $ — $ — Level 1 (1) : Money market funds 9,608 — — 9,608 9,608 — — Mutual funds 175 11 (1) 185 — 185 — Subtotal 9,783 11 (1) 9,793 9,608 185 — Level 2 (2) : Equity securities 1,527 — (564) 963 — 963 — U.S. Treasury securities 22,878 102 (77) 22,903 3,596 6,625 12,682 U.S. agency securities 8,949 2 (64) 8,887 1,775 1,930 5,182 Non-U.S. government securities 20,201 211 (101) 20,311 390 3,091 16,830 Certificates of deposit and time deposits 1,300 — — 1,300 490 810 — Commercial paper 2,639 — — 2,639 1,776 863 — Corporate debt securities 83,883 1,242 (267) 84,858 — 12,327 72,531 Municipal securities 967 14 — 981 — 130 851 Mortgage- and asset-backed securities 20,529 171 (124) 20,576 — 775 19,801 Subtotal 162,873 1,742 (1,197) 163,418 8,027 27,514 127,877 Total (3) $ 189,961 $ 1,753 $ (1,198) $ 190,516 $ 34,940 $ 27,699 $ 127,877 (1) Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. (2) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. (3) As of March 26, 2022 and September 25, 2021, total marketable securities included $15.4 billion and $17.9 billion, respectively, that were restricted from general use, related to the European Commission decision finding that Ireland granted state aid to the Company, and other agreements. The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of March 26, 2022 (in millions): Due after 1 year through 5 years $ 97,603 Due after 5 years through 10 years 22,899 Due after 10 years 20,717 Total fair value $ 141,219 Derivative Instruments and Hedging The Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk. However, the Company may choose not to hedge certain exposures for a variety of reasons, including accounting considerations or the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign exchange or interest rates. Foreign Exchange Risk To 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. To 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 March 26, 2022, the Company’s hedged term debt– and marketable securities–related foreign currency transactions are expected to be recognized within 20 years. The 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 To 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. The notional amounts of the Company’s outstanding derivative instruments as of March 26, 2022 and September 25, 2021 were as follows (in millions): March 26, September 25, Derivative instruments designated as accounting hedges: Foreign exchange contracts $ 65,140 $ 76,475 Interest rate contracts $ 20,775 $ 16,875 Derivative instruments not designated as accounting hedges: Foreign exchange contracts $ 110,758 $ 126,918 The gross fair values of the Company’s derivative assets and liabilities were not material as of March 26, 2022 and September 25, 2021. The gains and losses recognized in other comprehensive income/(loss) and amounts reclassified from accumulated other comprehensive income/(loss) to net income for the Company’s derivative instruments designated as cash flow hedges were not material in the three- and six-month periods ended March 26, 2022 and March 27, 2021. The carrying amounts of the Company’s hedged items in fair value hedges as of March 26, 2022 and September 25, 2021 were as follows (in millions): March 26, September 25, Hedged assets/(liabilities): Current and non-current marketable securities $ 14,943 $ 15,954 Current and non-current term debt $ (19,766) $ (17,857) The gains and losses on the Company’s derivative instruments designated as fair value hedges and the related hedged item adjustments were not material in the three- and six-month periods ended March 26, 2022 and March 27, 2021. Accounts Receivable Trade Receivables The Company has considerable trade receivables outstanding with its third-party cellular network carriers, wholesalers, retailers, resellers, small and mid-sized businesses and education, enterprise and government customers. The Company generally does not require collateral from its customers; however, the Company will require collateral or third-party credit support in certain instances to limit credit risk. In addition, when possible, the Company attempts to limit credit risk on trade receivables with credit insurance for certain customers or by requiring third-party financing, loans or leases to support credit exposure. These credit-financing arrangements are directly between the third-party financing company and the end customer. As such, the Company generally does not assume any recourse or credit risk sharing related to any of these arrangements. The Company’s cellular network carriers accounted for 36% and 42% of total trade receivables as of March 26, 2022 and September 25, 2021, respectively. Vendor Non-Trade Receivables The Company has non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture subassemblies or assemble final products for the Company. The Company purchases these components directly from suppliers. As of March 26, 2022, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 52% and 12%. As of September 25, 2021, the Company had three vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 52%, 11% and 11%.

Condensed Consolidated Financia

Condensed Consolidated Financial Statement Details	6 Months Ended
Condensed Consolidated Financial Statement Details	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statement Details	Condensed Consolidated Financial Statement Details The following tables show the Company’s condensed consolidated financial statement details as of March 26, 2022 and September 25, 2021 (in millions): Property, Plant and Equipment, Net March 26, September 25, Gross property, plant and equipment $ 109,324 $ 109,723 Accumulated depreciation and amortization (70,020) (70,283) Total property, plant and equipment, net $ 39,304 $ 39,440 Other Non-Current Liabilities March 26, September 25, Long-term taxes payable $ 20,711 $ 24,689 Other non-current liabilities 31,721 28,636 Total other non-current liabilities $ 52,432 $ 53,325 Other Income/(Expense), Net The following table shows the detail of other income/(expense), net for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Interest and dividend income $ 700 $ 718 $ 1,350 $ 1,465 Interest expense (691) (670) (1,385) (1,308) Other income/(expense), net 151 460 (52) 396 Total other income/(expense), net $ 160 $ 508 $ (87) $ 553

Debt

Debt	6 Months Ended
Debt	Mar. 26, 2022
Debt Disclosure [Abstract]
Debt	Debt Commercial Paper The Company issues unsecured short-term promissory notes (“Commercial Paper”) pursuant to a commercial paper program. The Company uses net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. As of March 26, 2022 and September 25, 2021, the Company had $7.0 billion and $6.0 billion of Commercial Paper outstanding, respectively. The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for the six months ended March 26, 2022 and March 27, 2021 (in millions): Six Months Ended March 26, March 27, Maturities 90 days or less: Proceeds from commercial paper, net $ 4,952 $ 2,008 Maturities greater than 90 days: Proceeds from commercial paper 1,191 1,368 Repayments of commercial paper (5,144) (3,354) Repayments of commercial paper, net (3,953) (1,986) Total proceeds from commercial paper, net $ 999 $ 22 Term Debt As of March 26, 2022 and September 25, 2021, the Company had outstanding floating- and fixed-rate notes with varying maturities for an aggregate carrying amount of $113.0 billion and $118.7 billion, respectively (collectively the “Notes”). As of March 26, 2022 and September 25, 2021, the fair value of the Company’s Notes, based on Level 2 inputs, was $110.5 billion and $125.3 billion, respectively.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
Shareholders' Equity	Mar. 26, 2022
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchase Program During the six months ended March 26, 2022, the Company repurchased 266 million shares of its common stock for $43.3 billion under a share repurchase program authorized by the Board of Directors (the “Program”), including 35 million shares delivered under accelerated share repurchase agreements totaling $6.0 billion that were entered into in November 2021. The Program does not obligate the Company to acquire a minimum amount of shares. Under the Program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

Benefit Plans

Benefit Plans	6 Months Ended
Benefit Plans	Mar. 26, 2022
Share-based Payment Arrangement [Abstract]
Benefit Plans	Benefit Plans Restricted Stock Units A summary of the Company’s restricted stock unit (“RSU”) activity and related information for the six months ended March 26, 2022 is as follows: Number of RSUs (in thousands) Weighted-Average Aggregate Fair Value (in millions) Balance as of September 25, 2021 240,427 $ 75.16 RSUs granted 76,920 $ 149.72 RSUs vested (62,476) $ 62.86 RSUs canceled (8,407) $ 95.86 Balance as of March 26, 2022 246,464 $ 100.84 $ 43,062 The fair value as of the respective vesting dates of RSUs was $1.0 billion and $9.5 billion for the three- and six-month periods ended March 26, 2022, respectively, and was $867 million and $9.4 billion for the three- and six-month periods ended March 27, 2021, respectively. Share-Based Compensation The 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 March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Share-based compensation expense $ 2,252 $ 1,981 $ 4,517 $ 4,001 Income tax benefit related to share-based compensation expense $ (649) $ (575) $ (2,185) $ (2,199) As of March 26, 2022, the total unrecognized compensation cost related to outstanding RSUs and stock options was $19.3 billion, which the Company expects to recognize over a weighted-average period of 2.8 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Mar. 26, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Accrued Warranty The following table shows changes in the Company’s accrued warranties and related costs for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Beginning accrued warranty and related costs $ 3,530 $ 4,124 $ 3,364 $ 3,354 Cost of warranty claims (581) (649) (1,253) (1,372) Accruals for product warranty 257 309 1,095 1,802 Ending accrued warranty and related costs $ 3,206 $ 3,784 $ 3,206 $ 3,784 Contingencies The Company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and that have not been fully resolved. The outcome of litigation is inherently uncertain. In the opinion of management, there was not at least a reasonable possibility the Company may have incurred a material loss, or a material loss greater than a recorded accrual, concerning loss contingencies for asserted legal and other claims.

Segment Information and Geograp

Segment Information and Geographic Data	6 Months Ended
Segment Information and Geographic Data	Mar. 26, 2022
Segment Reporting [Abstract]
Segment Information and Geographic Data	Segment Information and Geographic Data The following table shows information by reportable segment for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Americas: Net sales $ 40,882 $ 34,306 $ 92,378 $ 80,616 Operating income $ 15,279 $ 12,050 $ 34,864 $ 27,835 Europe: Net sales $ 23,287 $ 22,264 $ 53,036 $ 49,570 Operating income $ 8,505 $ 8,265 $ 20,050 $ 17,854 Greater China: Net sales $ 18,343 $ 17,728 $ 44,126 $ 39,041 Operating income $ 8,112 $ 7,758 $ 19,295 $ 16,288 Japan: Net sales $ 7,724 $ 7,742 $ 14,831 $ 16,027 Operating income $ 3,496 $ 3,428 $ 6,845 $ 6,931 Rest of Asia Pacific: Net sales $ 7,042 $ 7,544 $ 16,852 $ 15,769 Operating income $ 2,823 $ 2,736 $ 6,818 $ 5,689 A reconciliation of the Company’s segment operating income to the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March 26, 2022 and March 27, 2021 is as follows (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Segment operating income $ 38,215 $ 34,237 $ 87,872 $ 74,597 Research and development expense (6,387) (5,262) (12,693) (10,425) Other corporate expenses, net (1,849) (1,472) (3,712) (3,135) Total operating income $ 29,979 $ 27,503 $ 71,467 $ 61,037

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 26, 2022
Accounting Policies [Abstract]
Basis of Presentation and Preparation	Basis of Presentation and Preparation The condensed consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Company”). Intercompany accounts and transactions have been eliminated. In the opinion of the Company’s management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these condensed consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current period’s presentation. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended September 25, 2021.
Fiscal Period	The 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. The Company’s fiscal years 2022 and 2021 span 52 weeks each. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years.
Fair Value Measurements	Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities.Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 26, 2022
Accounting Policies [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table shows the computation of basic and diluted earnings per share for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (net income in millions and shares in thousands): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Numerator: Net income $ 25,010 $ 23,630 $ 59,640 $ 52,385 Denominator: Weighted-average basic shares outstanding 16,278,802 16,753,476 16,335,263 16,844,298 Effect of dilutive securities 124,514 175,681 126,041 177,125 Weighted-average diluted shares 16,403,316 16,929,157 16,461,304 17,021,423 Basic earnings per share $ 1.54 $ 1.41 $ 3.65 $ 3.11 Diluted earnings per share $ 1.52 $ 1.40 $ 3.62 $ 3.08

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Mar. 26, 2022
Revenue from Contract with Customer [Abstract]
Net Sales Disaggregated by Significant Products and Services	Net sales disaggregated by significant products and services for the three- and six-month periods ended March 26, 2022 and March 27, 2021 were as follows (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, iPhone ® (1) $ 50,570 $ 47,938 $ 122,198 $ 113,535 Mac ® (1) 10,435 9,102 21,287 17,777 iPad ® (1) 7,646 7,807 14,894 16,242 Wearables, Home and Accessories (1)(2) 8,806 7,836 23,507 20,807 Services (3) 19,821 16,901 39,337 32,662 Total net sales (4) $ 97,278 $ 89,584 $ 221,223 $ 201,023 (1) Products net sales include amortization of the deferred value of unspecified software upgrade rights, which are bundled in the sales price of the respective product. (2) Wearables, Home and Accessories net sales include sales of AirPods ® , Apple TV ® , Apple Watch ® , Beats ® products, HomePod mini ® , iPod touch ® and accessories. (3) Services net sales include sales from the Company’s advertising, AppleCare ® , cloud, digital content, payment and other services. Services net sales also include amortization of the deferred value of services bundled in the sales price of certain products. (4) Includes $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, $2.7 billion of revenue recognized in the three months ended March 27, 2021 that was included in deferred revenue as of December 26, 2020, $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, and $4.1 billion of revenue recognized in the six months ended March 27, 2021 that was included in deferred revenue as of September 26, 2020.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
Financial Instruments (Tables)	Mar. 26, 2022
Investments, All Other Investments [Abstract]
Cash, Cash Equivalents and Marketable Securities by Significant Investment Category	The following tables show the Company’s cash, cash equivalents and marketable securities by significant investment category as of March 26, 2022 and September 25, 2021 (in millions): March 26, 2022 Adjusted Unrealized Unrealized Fair Cash and Current Non-Current Marketable Cash $ 14,298 $ — $ — $ 14,298 $ 14,298 $ — $ — Level 1 (1) : Money market funds 7,653 — — 7,653 7,653 — — Mutual funds 230 7 (9) 228 — 228 — Subtotal 7,883 7 (9) 7,881 7,653 228 — Level 2 (2) : Equity securities 1,527 — (1,132) 395 — 395 — U.S. Treasury securities 28,711 2 (1,037) 27,676 2,306 3,554 21,816 U.S. agency securities 6,561 — (407) 6,154 251 683 5,220 Non-U.S. government securities 18,868 44 (551) 18,361 25 4,526 13,810 Certificates of deposit and time deposits 2,872 — — 2,872 2,221 601 50 Commercial paper 2,913 — — 2,913 1,310 1,603 — Corporate debt securities 93,057 94 (4,266) 88,885 34 11,309 77,542 Municipal securities 990 1 (22) 969 — 162 807 Mortgage- and asset-backed securities 23,613 3 (1,290) 22,326 — 352 21,974 Subtotal 179,112 144 (8,705) 170,551 6,147 23,185 141,219 Total (3) $ 201,293 $ 151 $ (8,714) $ 192,730 $ 28,098 $ 23,413 $ 141,219 September 25, 2021 Adjusted Unrealized Unrealized Fair Cash and Current Non-Current Cash $ 17,305 $ — $ — $ 17,305 $ 17,305 $ — $ — Level 1 (1) : Money market funds 9,608 — — 9,608 9,608 — — Mutual funds 175 11 (1) 185 — 185 — Subtotal 9,783 11 (1) 9,793 9,608 185 — Level 2 (2) : Equity securities 1,527 — (564) 963 — 963 — U.S. Treasury securities 22,878 102 (77) 22,903 3,596 6,625 12,682 U.S. agency securities 8,949 2 (64) 8,887 1,775 1,930 5,182 Non-U.S. government securities 20,201 211 (101) 20,311 390 3,091 16,830 Certificates of deposit and time deposits 1,300 — — 1,300 490 810 — Commercial paper 2,639 — — 2,639 1,776 863 — Corporate debt securities 83,883 1,242 (267) 84,858 — 12,327 72,531 Municipal securities 967 14 — 981 — 130 851 Mortgage- and asset-backed securities 20,529 171 (124) 20,576 — 775 19,801 Subtotal 162,873 1,742 (1,197) 163,418 8,027 27,514 127,877 Total (3) $ 189,961 $ 1,753 $ (1,198) $ 190,516 $ 34,940 $ 27,699 $ 127,877 (1) Level 1 fair value estimates are based on quoted prices in active markets for identical assets or liabilities. (2) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. (3) As of March 26, 2022 and September 25, 2021, total marketable securities included $15.4 billion and $17.9 billion, respectively, that were restricted from general use, related to the European Commission decision finding that Ireland granted state aid to the Company, and other agreements.
Non-Current Marketable Debt Securities by Contractual Maturity	The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of March 26, 2022 (in millions): Due after 1 year through 5 years $ 97,603 Due after 5 years through 10 years 22,899 Due after 10 years 20,717 Total fair value $ 141,219
Notional Amounts of Outstanding Derivative Instruments	The notional amounts of the Company’s outstanding derivative instruments as of March 26, 2022 and September 25, 2021 were as follows (in millions): March 26, September 25, Derivative instruments designated as accounting hedges: Foreign exchange contracts $ 65,140 $ 76,475 Interest rate contracts $ 20,775 $ 16,875 Derivative instruments not designated as accounting hedges: Foreign exchange contracts $ 110,758 $ 126,918
Carrying Amounts of Hedged Items in Fair Value Hedges	The carrying amounts of the Company’s hedged items in fair value hedges as of March 26, 2022 and September 25, 2021 were as follows (in millions): March 26, September 25, Hedged assets/(liabilities): Current and non-current marketable securities $ 14,943 $ 15,954 Current and non-current term debt $ (19,766) $ (17,857)

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statement Details (Tables)	6 Months Ended
Condensed Consolidated Financial Statement Details (Tables)	Mar. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net March 26, September 25, Gross property, plant and equipment $ 109,324 $ 109,723 Accumulated depreciation and amortization (70,020) (70,283) Total property, plant and equipment, net $ 39,304 $ 39,440
Other Non-Current Liabilities	Other Non-Current Liabilities March 26, September 25, Long-term taxes payable $ 20,711 $ 24,689 Other non-current liabilities 31,721 28,636 Total other non-current liabilities $ 52,432 $ 53,325
Other Income/(Expense), Net	Other Income/(Expense), Net The following table shows the detail of other income/(expense), net for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Interest and dividend income $ 700 $ 718 $ 1,350 $ 1,465 Interest expense (691) (670) (1,385) (1,308) Other income/(expense), net 151 460 (52) 396 Total other income/(expense), net $ 160 $ 508 $ (87) $ 553

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Mar. 26, 2022
Debt Disclosure [Abstract]
Summary of Cash Flows Associated with Issuance and Maturities of Commercial Paper	The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for the six months ended March 26, 2022 and March 27, 2021 (in millions): Six Months Ended March 26, March 27, Maturities 90 days or less: Proceeds from commercial paper, net $ 4,952 $ 2,008 Maturities greater than 90 days: Proceeds from commercial paper 1,191 1,368 Repayments of commercial paper (5,144) (3,354) Repayments of commercial paper, net (3,953) (1,986) Total proceeds from commercial paper, net $ 999 $ 22

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
Benefit Plans (Tables)	Mar. 26, 2022
Share-based Payment Arrangement [Abstract]
Restricted Stock Unit Activity	A summary of the Company’s restricted stock unit (“RSU”) activity and related information for the six months ended March 26, 2022 is as follows: Number of RSUs (in thousands) Weighted-Average Aggregate Fair Value (in millions) Balance as of September 25, 2021 240,427 $ 75.16 RSUs granted 76,920 $ 149.72 RSUs vested (62,476) $ 62.86 RSUs canceled (8,407) $ 95.86 Balance as of March 26, 2022 246,464 $ 100.84 $ 43,062
Summary of Share-Based Compensation Expense and the Related Income Tax Benefit	The 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 March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Share-based compensation expense $ 2,252 $ 1,981 $ 4,517 $ 4,001 Income tax benefit related to share-based compensation expense $ (649) $ (575) $ (2,185) $ (2,199)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Mar. 26, 2022
Commitments and Contingencies Disclosure [Abstract]
Changes in Accrued Warranties and Related Costs	The following table shows changes in the Company’s accrued warranties and related costs for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Beginning accrued warranty and related costs $ 3,530 $ 4,124 $ 3,364 $ 3,354 Cost of warranty claims (581) (649) (1,253) (1,372) Accruals for product warranty 257 309 1,095 1,802 Ending accrued warranty and related costs $ 3,206 $ 3,784 $ 3,206 $ 3,784

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	6 Months Ended
Segment Information and Geographic Data (Tables)	Mar. 26, 2022
Segment Reporting [Abstract]
Information by Reportable Segment	The following table shows information by reportable segment for the three- and six-month periods ended March 26, 2022 and March 27, 2021 (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Americas: Net sales $ 40,882 $ 34,306 $ 92,378 $ 80,616 Operating income $ 15,279 $ 12,050 $ 34,864 $ 27,835 Europe: Net sales $ 23,287 $ 22,264 $ 53,036 $ 49,570 Operating income $ 8,505 $ 8,265 $ 20,050 $ 17,854 Greater China: Net sales $ 18,343 $ 17,728 $ 44,126 $ 39,041 Operating income $ 8,112 $ 7,758 $ 19,295 $ 16,288 Japan: Net sales $ 7,724 $ 7,742 $ 14,831 $ 16,027 Operating income $ 3,496 $ 3,428 $ 6,845 $ 6,931 Rest of Asia Pacific: Net sales $ 7,042 $ 7,544 $ 16,852 $ 15,769 Operating income $ 2,823 $ 2,736 $ 6,818 $ 5,689
Reconciliation of Segment Operating Income to the Condensed Consolidated Statements of Operations	A reconciliation of the Company’s segment operating income to the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March 26, 2022 and March 27, 2021 is as follows (in millions): Three Months Ended Six Months Ended March 26, March 27, March 26, March 27, Segment operating income $ 38,215 $ 34,237 $ 87,872 $ 74,597 Research and development expense (6,387) (5,262) (12,693) (10,425) Other corporate expenses, net (1,849) (1,472) (3,712) (3,135) Total operating income $ 29,979 $ 27,503 $ 71,467 $ 61,037

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Numerator:
Net income	$ 25,010	$ 23,630	$ 59,640	$ 52,385
Denominator:
Weighted-average basic shares outstanding (in shares)	16,278,802	16,753,476	16,335,263	16,844,298
Effect of dilutive securities (in shares)	124,514	175,681	126,041	177,125
Weighted-average diluted shares (in shares)	16,403,316	16,929,157	16,461,304	17,021,423
Basic earnings per share (in dollars per share)	$ 1.54	$ 1.41	$ 3.65	$ 3.11
Diluted earnings per share (in dollars per share)	$ 1.52	$ 1.40	$ 3.62	$ 3.08

Revenue - Net Sales Disaggregat

Revenue - Net Sales Disaggregated by Significant Products and Services (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 97,278	$ 89,584	$ 221,223	$ 201,023
Revenue recognized that was included in deferred revenue at the beginning of the period	3,000	2,700	4,800	4,100
iPhone
Disaggregation of Revenue [Line Items]
Net sales	50,570	47,938	122,198	113,535
Mac
Disaggregation of Revenue [Line Items]
Net sales	10,435	9,102	21,287	17,777
iPad
Disaggregation of Revenue [Line Items]
Net sales	7,646	7,807	14,894	16,242
Wearables, Home and Accessories
Disaggregation of Revenue [Line Items]
Net sales	8,806	7,836	23,507	20,807
Services
Disaggregation of Revenue [Line Items]
Net sales	$ 19,821	$ 16,901	$ 39,337	$ 32,662

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Billions	Mar. 26, 2022	Sep. 25, 2021
Revenue from Contract with Customer [Abstract]
Total deferred revenue	$ 12.5	$ 11.9

Revenue - Deferred Revenue, Exp

Revenue - Deferred Revenue, Expected Timing of Realization (Details)	Mar. 26, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, expected timing of realization, percentage	63.00%
Deferred revenue, expected timing of realization, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, expected timing of realization, percentage	27.00%
Deferred revenue, expected timing of realization, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, expected timing of realization, percentage	8.00%
Deferred revenue, expected timing of realization, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, expected timing of realization, percentage	2.00%
Deferred revenue, expected timing of realization, period

Financial Instruments - Cash, C

Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Debt Securities, Available-for-sale [Line Items]
Cash, Cash Equivalents and Marketable Securities, Adjusted Cost	$ 201,293	$ 189,961
Cash Equivalents and Marketable Securities, Unrealized Gains	151	1,753
Cash Equivalents and Marketable Securities, Unrealized Losses	(8,714)	(1,198)
Cash, Cash Equivalents and Marketable Securities, Fair Value	192,730	190,516
Cash and Cash Equivalents	28,098	34,940
Current Marketable Securities	23,413	27,699
Non-Current Marketable Securities	141,219	127,877
Total marketable securities that were restricted from general use	15,400	17,900
Level 1
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Equity, Adjusted Cost	7,883	9,783
Marketable Securities, Equity, Unrealized Gains	7	11
Marketable Securities, Equity, Unrealized Losses	(9)	(1)
Marketable Securities, Equity, Fair Value	7,881	9,793
Cash and Cash Equivalents	7,653	9,608
Current Marketable Securities	228	185
Non-Current Marketable Securities	0	0
Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	179,112	162,873
Marketable Securities, Debt, Unrealized Gains	144	1,742
Marketable Securities, Debt, Unrealized Losses	(8,705)	(1,197)
Marketable Securities, Debt, Fair Value	170,551	163,418
Cash and Cash Equivalents	6,147	8,027
Current Marketable Securities	23,185	27,514
Non-Current Marketable Securities	141,219	127,877
Cash
Debt Securities, Available-for-sale [Line Items]
Cash	14,298	17,305
Cash and Cash Equivalents	14,298	17,305
Current Marketable Securities	0	0
Non-Current Marketable Securities	0	0
Money market funds \| Level 1
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Equity, Adjusted Cost	7,653	9,608
Marketable Securities, Equity, Unrealized Gains	0	0
Marketable Securities, Equity, Unrealized Losses	0	0
Marketable Securities, Equity, Fair Value	7,653	9,608
Cash and Cash Equivalents	7,653	9,608
Current Marketable Securities	0	0
Non-Current Marketable Securities	0	0
Mutual funds \| Level 1
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Equity, Adjusted Cost	230	175
Marketable Securities, Equity, Unrealized Gains	7	11
Marketable Securities, Equity, Unrealized Losses	(9)	(1)
Marketable Securities, Equity, Fair Value	228	185
Cash and Cash Equivalents	0	0
Current Marketable Securities	228	185
Non-Current Marketable Securities	0	0
Equity securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Equity, Adjusted Cost	1,527	1,527
Marketable Securities, Equity, Unrealized Gains	0	0
Marketable Securities, Equity, Unrealized Losses	(1,132)	(564)
Marketable Securities, Equity, Fair Value	395	963
Cash and Cash Equivalents	0	0
Current Marketable Securities	395	963
Non-Current Marketable Securities	0	0
U.S. Treasury securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	28,711	22,878
Marketable Securities, Debt, Unrealized Gains	2	102
Marketable Securities, Debt, Unrealized Losses	(1,037)	(77)
Marketable Securities, Debt, Fair Value	27,676	22,903
Cash and Cash Equivalents	2,306	3,596
Current Marketable Securities	3,554	6,625
Non-Current Marketable Securities	21,816	12,682
U.S. agency securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	6,561	8,949
Marketable Securities, Debt, Unrealized Gains	0	2
Marketable Securities, Debt, Unrealized Losses	(407)	(64)
Marketable Securities, Debt, Fair Value	6,154	8,887
Cash and Cash Equivalents	251	1,775
Current Marketable Securities	683	1,930
Non-Current Marketable Securities	5,220	5,182
Non-U.S. government securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	18,868	20,201
Marketable Securities, Debt, Unrealized Gains	44	211
Marketable Securities, Debt, Unrealized Losses	(551)	(101)
Marketable Securities, Debt, Fair Value	18,361	20,311
Cash and Cash Equivalents	25	390
Current Marketable Securities	4,526	3,091
Non-Current Marketable Securities	13,810	16,830
Certificates of deposit and time deposits \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	2,872	1,300
Marketable Securities, Debt, Unrealized Gains	0	0
Marketable Securities, Debt, Unrealized Losses	0	0
Marketable Securities, Debt, Fair Value	2,872	1,300
Cash and Cash Equivalents	2,221	490
Current Marketable Securities	601	810
Non-Current Marketable Securities	50	0
Commercial paper \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	2,913	2,639
Marketable Securities, Debt, Unrealized Gains	0	0
Marketable Securities, Debt, Unrealized Losses	0	0
Marketable Securities, Debt, Fair Value	2,913	2,639
Cash and Cash Equivalents	1,310	1,776
Current Marketable Securities	1,603	863
Non-Current Marketable Securities	0	0
Corporate debt securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	93,057	83,883
Marketable Securities, Debt, Unrealized Gains	94	1,242
Marketable Securities, Debt, Unrealized Losses	(4,266)	(267)
Marketable Securities, Debt, Fair Value	88,885	84,858
Cash and Cash Equivalents	34	0
Current Marketable Securities	11,309	12,327
Non-Current Marketable Securities	77,542	72,531
Municipal securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	990	967
Marketable Securities, Debt, Unrealized Gains	1	14
Marketable Securities, Debt, Unrealized Losses	(22)	0
Marketable Securities, Debt, Fair Value	969	981
Cash and Cash Equivalents	0	0
Current Marketable Securities	162	130
Non-Current Marketable Securities	807	851
Mortgage- and asset-backed securities \| Level 2
Debt Securities, Available-for-sale [Line Items]
Marketable Securities, Debt, Adjusted Cost	23,613	20,529
Marketable Securities, Debt, Unrealized Gains	3	171
Marketable Securities, Debt, Unrealized Losses	(1,290)	(124)
Marketable Securities, Debt, Fair Value	22,326	20,576
Cash and Cash Equivalents	0	0
Current Marketable Securities	352	775
Non-Current Marketable Securities	$ 21,974	$ 19,801

Financial Instruments - Non-Cur

Financial Instruments - Non-Current Marketable Debt Securities by Contractual Maturity (Details) $ in Millions	Mar. 26, 2022USD ($)
Fair value of non-current marketable debt securities by contractual maturity
Due after 1 year through 5 years	$ 97,603
Due after 5 years through 10 years	22,899
Due after 10 years	20,717
Total fair value	$ 141,219

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) - Vendor	6 Months Ended	12 Months Ended
	Mar. 26, 2022	Sep. 25, 2021
Trade receivables \| Credit concentration risk \| Cellular network carriers
Financial Instruments [Line Items]
Concentration risk, percentage	36.00%	42.00%
Non-trade receivables \| Credit concentration risk
Financial Instruments [Line Items]
Number of vendors that individually represented 10% or more of total vendor non-trade receivables	2	3
Non-trade receivables \| Credit concentration risk \| Vendor one
Financial Instruments [Line Items]
Concentration risk, percentage	52.00%	52.00%
Non-trade receivables \| Credit concentration risk \| Vendor two
Financial Instruments [Line Items]
Concentration risk, percentage	12.00%	11.00%
Non-trade receivables \| Credit concentration risk \| Vendor three
Financial Instruments [Line Items]
Concentration risk, percentage		11.00%
Hedges of foreign currency exposure associated with revenue and inventory purchases
Financial Instruments [Line Items]
Hedged foreign currency transactions, expected recognition period	12 months
Hedges of foreign currency exposure associated with term debt and marketable securities
Financial Instruments [Line Items]
Hedged foreign currency transactions, expected recognition period	20 years

Financial Instruments - Notiona

Financial Instruments - Notional Amounts of Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Derivative instruments designated as accounting hedges \| Foreign exchange contracts
Derivative [Line Items]
Derivatives, notional amount	$ 65,140	$ 76,475
Derivative instruments designated as accounting hedges \| Interest rate contracts
Derivative [Line Items]
Derivatives, notional amount	20,775	16,875
Derivatives instruments not designated as accounting hedges \| Foreign exchange contracts
Derivative [Line Items]
Derivatives, notional amount	$ 110,758	$ 126,918

Financial Instruments - Derivat

Financial Instruments - Derivative Instruments Designated as Fair Value Hedges and Related Hedged Items (Details) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Current and non-current marketable securities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amount of hedged marketable securities	$ 14,943	$ 15,954
Current and non-current term debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying amount of hedged term debt	$ (19,766)	$ (17,857)

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statement Details - Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Gross property, plant and equipment	$ 109,324	$ 109,723
Accumulated depreciation and amortization	(70,020)	(70,283)
Total property, plant and equipment, net	$ 39,304	$ 39,440

Condensed Consolidated Financ_4

Condensed Consolidated Financial Statement Details - Other Non-Current Liabilities (Details) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Long-term taxes payable	$ 20,711	$ 24,689
Other non-current liabilities	31,721	28,636
Total other non-current liabilities	$ 52,432	$ 53,325

Condensed Consolidated Financ_5

Condensed Consolidated Financial Statement Details - Other Income/(Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest and dividend income	$ 700	$ 718	$ 1,350	$ 1,465
Interest expense	(691)	(670)	(1,385)	(1,308)
Other income/(expense), net	151	460	(52)	396
Total other income/(expense), net	$ 160	$ 508	$ (87)	$ 553

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	Mar. 26, 2022	Sep. 25, 2021
Debt Instrument [Line Items]
Commercial paper	$ 6,999	$ 6,000
Floating- and fixed-rate notes, aggregate carrying amount	113,000	118,700
Commercial paper
Debt Instrument [Line Items]
Commercial paper	7,000	6,000
Level 2
Debt Instrument [Line Items]
Floating- and fixed-rate notes, aggregate fair value	$ 110,500	$ 125,300

Debt - Summary of Cash Flows As

Debt - Summary of Cash Flows Associated with Commercial Paper (Details) - USD ($) $ in Millions	6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021
Maturities 90 days or less:
Proceeds from commercial paper, net	$ 4,952	$ 2,008
Maturities greater than 90 days:
Proceeds from commercial paper	1,191	1,368
Repayments of commercial paper	(5,144)	(3,354)
Repayments of commercial paper, net	(3,953)	(1,986)
Total proceeds from commercial paper, net	$ 999	$ 22

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) shares in Millions, $ in Billions	6 Months Ended
	Mar. 26, 2022USD ($)shares
Share Repurchase Program [Line Items]
Number of shares repurchased (in shares) \| shares	266
Amount of share repurchases \| $	$ 43.3
November 2021 accelerated share repurchase agreements
Share Repurchase Program [Line Items]
Number of shares repurchased (in shares) \| shares	35
Amount of share repurchases \| $	$ 6

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to RSUs and stock options	$ 19,300		$ 19,300
Total unrecognized compensation cost related to RSUs and stock options, weighted-average recognition period			2 years 9 months 18 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of RSUs as of the respective vesting dates	$ 1,000	$ 867	$ 9,500	$ 9,400

Benefit Plans - Restricted Stoc

Benefit Plans - Restricted Stock Units Activity and Related Information (Details) - Restricted stock units $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Mar. 26, 2022USD ($)$ / sharesshares
Number of Restricted Stock Units
Beginning balance (in shares) \| shares	240,427
RSUs granted (in shares) \| shares	76,920
RSUs vested (in shares) \| shares	(62,476)
RSUs canceled (in shares) \| shares	(8,407)
Ending balance (in shares) \| shares	246,464
Weighted-Average Grant Date Fair Value Per RSU
Beginning balance (in dollars per share) \| $ / shares	$ 75.16
RSUs granted (in dollars per share) \| $ / shares	149.72
RSUs vested (in dollars per share) \| $ / shares	62.86
RSUs canceled (in dollars per share) \| $ / shares	95.86
Ending balance (in dollars per share) \| $ / shares	$ 100.84
Aggregate Fair Value
Aggregate fair value of RSUs \| $	$ 43,062

Benefit Plans - Summary of Shar

Benefit Plans - Summary of Share-Based Compensation Expense and the Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 2,252	$ 1,981	$ 4,517	$ 4,001
Income tax benefit related to share-based compensation expense	$ (649)	$ (575)	$ (2,185)	$ (2,199)

Commitments and Contingencies -

Commitments and Contingencies - Changes in Accrued Warranties and Related Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Changes in Accrued Warranties and Related Costs [Roll Forward]
Beginning accrued warranty and related costs	$ 3,530	$ 4,124	$ 3,364	$ 3,354
Cost of warranty claims	(581)	(649)	(1,253)	(1,372)
Accruals for product warranty	257	309	1,095	1,802
Ending accrued warranty and related costs	$ 3,206	$ 3,784	$ 3,206	$ 3,784

Segment Information and Geogr_3

Segment Information and Geographic Data - Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Segment Reporting Information [Line Items]
Net sales	$ 97,278	$ 89,584	$ 221,223	$ 201,023
Operating income	29,979	27,503	71,467	61,037
Americas
Segment Reporting Information [Line Items]
Net sales	40,882	34,306	92,378	80,616
Operating income	15,279	12,050	34,864	27,835
Europe
Segment Reporting Information [Line Items]
Net sales	23,287	22,264	53,036	49,570
Operating income	8,505	8,265	20,050	17,854
Greater China
Segment Reporting Information [Line Items]
Net sales	18,343	17,728	44,126	39,041
Operating income	8,112	7,758	19,295	16,288
Japan
Segment Reporting Information [Line Items]
Net sales	7,724	7,742	14,831	16,027
Operating income	3,496	3,428	6,845	6,931
Rest of Asia Pacific
Segment Reporting Information [Line Items]
Net sales	7,042	7,544	16,852	15,769
Operating income	$ 2,823	$ 2,736	$ 6,818	$ 5,689

Segment Information and Geogr_4

Segment Information and Geographic Data - Reconciliation of Segment Operating Income to the Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 26, 2022	Mar. 27, 2021	Mar. 26, 2022	Mar. 27, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 29,979	$ 27,503	$ 71,467	$ 61,037
Research and development expense	(6,387)	(5,262)	(12,693)	(10,425)
Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	38,215	34,237	87,872	74,597
Segment reconciling items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Research and development expense	(6,387)	(5,262)	(12,693)	(10,425)
Corporate non-segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Other corporate expenses, net	$ (1,849)	$ (1,472)	$ (3,712)	$ (3,135)