Apple Inc. (AAPL) SEC Filing 8-K Material Event for the period ending Tuesday, July 27, 2021

Apple Inc

CIK: 320193 Ticker: AAPL

Exhibit 99.1

Apple Reports Third Quarter Results

Revenue up 36 percent to new June quarter record

Services revenue reaches new all-time high

CUPERTINO, California — July 27, 2021 — Apple® today announced financial results for its fiscal 2021 third quarter ended June 26, 2021. The Company posted a June quarter record revenue of $81.4 billion, up 36 percent year over year, and quarterly earnings per diluted share of $1.30.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO. “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”

“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long term growth plans.”

Apple’s board of directors has declared a cash dividend of $0.22 per share of the Company’s common stock. The dividend is payable on August 12, 2021 to shareholders of record as of the close of business on August 9, 2021.

Apple will provide live streaming of its Q3 2021 financial results conference call beginning at 2:00 p.m. PT on July 27, 2021 at This webcast will also be available for replay for approximately two weeks thereafter.

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

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company’s plans for the payment of its quarterly dividend. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, and stock price; the effect of global and regional economic conditions on the Company’s business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the effect that shifts in the mix of products and services and in the geographic, currency, or channel mix, component cost increases, increases in the cost of acquiring and delivering content for the Company’s services, price competition, or the introduction of new products or services, including new products or services with higher cost structures, could have on the Company’s gross margin; the dependency of the Company on the performance of distributors of the Company’s products, including cellular network carriers and other resellers; the risk of write-downs on the value of inventory and other assets and purchase commitment cancellation risk; the continued availability on acceptable terms, or at all, of certain components, services, and new technologies essential to the Company’s business, including components and technologies that may only be available from single or limited sources; the dependency of the Company on manufacturing and logistics services provided by third parties, many of which are located outside of the US and which may affect the quality, quantity, or cost of products manufactured or services rendered to the Company; the effect of product and services design and manufacturing defects on the Company’s financial performance and reputation; the dependency of the Company on third-party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all; the dependency of the Company on support from third-party software developers to develop and maintain software applications and services for the Company’s products; the impact of unfavorable legal proceedings or government investigations; the impact of complex and changing laws and regulations worldwide, which expose the Company to potential liabilities, increased costs, and other adverse effects on the Company’s business; the ability of the Company to manage risks associated with the Company’s retail stores; the ability of the Company to manage risks associated with the Company’s investments in new business strategies and acquisitions; the impact on the Company’s business and reputation from information technology system failures, network disruptions, or losses or unauthorized access to, or release of, confidential information; the ability of the Company to comply with laws and regulations regarding data protection; the continued service and availability of key executives and employees; political events, international trade disputes, war, terrorism, natural disasters, public health issues, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company’s products; financial risks, including risks relating to currency fluctuations, credit risks, and fluctuations in the market value of the Company’s investment portfolio; and changes in tax rates and exposure to additional tax liabilities. More information on these risks and other potential factors that could affect the Company’s business and financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

Press Contact:
Josh Rosenstock
(408) 862-1142

Investor Relations Contact:
Tejas Gala
(669) 227-2402

NOTE TO EDITORS: For additional information visit Apple Newsroom (, or call Apple’s Media Helpline at (408) 974-2042.
© 2021 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Apple Inc.
(In millions, except number of shares which are reflected in thousands and per share amounts)
Three Months EndedNine Months Ended
June 26,
June 27,
June 26,
June 27,
Net sales:
   Products$63,948 $46,529 $232,309 $170,598 
   Services17,486 13,156 50,148 39,219 
Total net sales (1)
81,434 59,685 282,457 209,817 
Cost of sales:
   Products40,899 32,693 149,476 116,089 
   Services5,280 4,312 15,319 13,461 
Total cost of sales46,179 37,005 164,795 129,550 
Gross margin
35,255 22,680 117,662 80,267 
Operating expenses:
Research and development
5,717 4,758 16,142 13,774 
Selling, general and administrative
5,412 4,831 16,357 14,980 
Total operating expenses
11,129 9,589 32,499 28,754 
Operating income
24,126 13,091 85,163 51,513 
Other income/(expense), net
243 46 796 677 
Income before provision for income taxes
24,369 13,137 85,959 52,190 
Provision for income taxes
2,625 1,884 11,830 7,452 
Net income
$21,744 $11,253 $74,129 $44,738 
Earnings per share:
$1.31 $0.65 $4.42 $2.56 
$1.30 $0.65 $4.38 $2.54 
Shares used in computing earnings per share:
16,629,371 17,250,291 16,772,656 17,450,284 
16,781,735 17,419,154 16,941,527 17,618,778 
(1) Net sales by reportable segment:
$35,870 $27,018 $116,486 $93,858 
18,943 14,173 68,513 51,740 
Greater China
14,762 9,329 53,803 32,362 
6,464 4,966 22,491 16,395 
Rest of Asia Pacific
5,395 4,199 21,164 15,462 
Total net sales
$81,434 $59,685 $282,457 $209,817 
(1) Net sales by category:
$39,570 $26,418 $153,105 $111,337 
8,235 7,079 26,012 19,590 
7,368 6,582 23,610 16,927 
Wearables, Home and Accessories
8,775 6,450 29,582 22,744 
17,486 13,156 50,148 39,219 
Total net sales
$81,434 $59,685 $282,457 $209,817 

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

June 26,
September 26,
Current assets:
Cash and cash equivalents
$34,050 $38,016 
Marketable securities
27,646 52,927 
Accounts receivable, net
17,475 16,120 
5,178 4,061 
Vendor non-trade receivables
16,433 21,325 
Other current assets
13,641 11,264 
Total current assets
114,423 143,713 
Non-current assets:
Marketable securities
131,948 100,887 
Property, plant and equipment, net
38,615 36,766 
Other non-current assets
44,854 42,522 
Total non-current assets
215,417 180,175 
Total assets
$329,840 $323,888 
Current liabilities:
Accounts payable
$40,409 $42,296 
Other current liabilities
43,625 42,684 
Deferred revenue
7,681 6,643 
Commercial paper
8,000 4,996 
Term debt
8,039 8,773 
Total current liabilities
107,754 105,392 
Non-current liabilities:
Term debt
105,752 98,667 
Other non-current liabilities
52,054 54,490 
Total non-current liabilities
157,806 153,157 
Total liabilities
265,560 258,549 
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,556,942 and 16,976,763 shares issued and outstanding, respectively
54,989 50,779 
Retained earnings
9,233 14,966 
Accumulated other comprehensive income/(loss)
58 (406)
Total shareholders’ equity
64,280 65,339 
Total liabilities and shareholders’ equity
$329,840 $323,888 

Apple Inc.
(In millions)
Nine Months Ended
June 26,
June 27,
Cash, cash equivalents and restricted cash, beginning balances
$39,789 $50,224 
Operating activities:
Net income74,129 44,738 
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization8,295 8,354 
Share-based compensation expense5,961 5,105 
Deferred income tax expense/(benefit)(737)182 
Changes in operating assets and liabilities:
Accounts receivable, net(1,316)5,149 
Vendor non-trade receivables4,892 8,685 
Other current and non-current assets(5,899)(6,760)
Accounts payable(1,786)(10,787)
Deferred revenue1,738 1,649 
Other current and non-current liabilities463 3,867 
Cash generated by operating activities83,838 60,098 
Investing activities:
Purchases of marketable securities(94,052)(96,606)
Proceeds from maturities of marketable securities49,880 54,865 
Proceeds from sales of marketable securities36,745 39,760 
Payments for acquisition of property, plant and equipment(7,862)(5,525)
Payments made in connection with business acquisitions, net(13)(1,473)
Cash used in investing activities(15,380)(9,820)
Financing activities:
Proceeds from issuance of common stock561 430 
Payments for taxes related to net share settlement of equity awards(5,855)(3,234)
Payments for dividends and dividend equivalents(10,827)(10,570)
Repurchases of common stock(66,223)(55,171)
Proceeds from issuance of term debt, net13,923 10,635 
Repayments of term debt(7,500)(12,629)
Proceeds from commercial paper, net3,022 31 
Proceeds from repurchase agreements— 5,165 
Cash used in financing activities(72,971)(65,463)
Decrease in cash, cash equivalents and restricted cash(4,513)(15,185)
Cash, cash equivalents and restricted cash, ending balances$35,276 $35,039 
Supplemental cash flow disclosure:
Cash paid for income taxes, net$18,536 $8,410 
Cash paid for interest$1,870 $2,275 

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Ticker: AAPL
CIK: 320193
Form Type: 8-K Corporate News
Accession Number: 0000320193-21-000063
Submitted to the SEC: Tue Jul 27 2021 4:35:44 PM EST
Accepted by the SEC: Tue Jul 27 2021
Period: Tuesday, July 27, 2021
Industry: Electronic Computers
  1. Earnings Release
  2. Financial Exhibit

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