Apple Inc. (AAPL) SEC Filing 8-K Material Event for the period ending Thursday, October 28, 2021

Apple Inc

CIK: 320193 Ticker: AAPL

Exhibit 99.1

Apple Reports Fourth Quarter Results

New September quarter record with revenue up 29 percent

Services and Mac revenue reach new all-time highs

CUPERTINO, California — October 28, 2021 — Apple® today announced financial results for its fiscal 2021 fourth quarter ended September 25, 2021. The Company posted a September quarter revenue record of $83.4 billion, up 29 percent year over year, and quarterly earnings per diluted share of $1.24.

“This year we launched our most powerful products ever, from M1-powered Macs to an iPhone 13 lineup that is setting a new standard for performance and empowering our customers to create and connect in new ways,” said Tim Cook, Apple’s CEO. “We are infusing our values into everything we make — moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever advancing our mission to build a more equitable future.”

“Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment,” said Luca Maestri, Apple’s CFO. “The combination of our record sales performance, unmatched customer loyalty, and strength of our ecosystem drove our active installed base of devices to a new all-time high. During the September quarter, we returned over $24 billion to our shareholders, as we continue to make progress toward our goal of reaching a net cash neutral position over time.”

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 November 11, 2021 to shareholders of record as of the close of business on November 8, 2021.

Apple will provide live streaming of its Q4 2021 financial results conference call beginning at 2:00 p.m. PT on October 28, 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 return of capital, the payment of its quarterly dividend, and its investment plans and environmental initiatives. 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 developing, 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; failure to obtain or create digital content that appeals to the Company’s customers, or to make such content available on commercially reasonable terms; the dependency of the Company on third-party intellectual property, 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 intense media, political, and regulatory scrutiny, which exposes the Company to increasing regulation, government investigations, legal actions, and penalties; 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 highly skilled employees, including key personnel; political events, trade and other international disputes, war, terrorism, natural disasters, public health issues, industrial accidents, 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, the adoption of new U.S. or international tax legislation, 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 EndedTwelve Months Ended
September 25,
September 26,
September 25,
September 26,
Net sales:
   Products$65,083 $50,149 $297,392 $220,747 
   Services18,277 14,549 68,425 53,768 
Total net sales (1)
83,360 64,698 365,817 274,515 
Cost of sales:
   Products42,790 35,197 192,266 151,286 
   Services5,396 4,812 20,715 18,273 
Total cost of sales48,186 40,009 212,981 169,559 
Gross margin
35,174 24,689 152,836 104,956 
Operating expenses:
Research and development
5,772 4,978 21,914 18,752 
Selling, general and administrative
5,616 4,936 21,973 19,916 
Total operating expenses
11,388 9,914 43,887 38,668 
Operating income
23,786 14,775 108,949 66,288 
Other income/(expense), net
(538)126 258 803 
Income before provision for income taxes
23,248 14,901 109,207 67,091 
Provision for income taxes
2,697 2,228 14,527 9,680 
Net income
$20,551 $12,673 $94,680 $57,411 
Earnings per share:
$1.25 $0.74 $5.67 $3.31 
$1.24 $0.73 $5.61 $3.28 
Shares used in computing earnings per share:
16,487,121 17,057,622 16,701,272 17,352,119 
16,635,097 17,256,521 16,864,919 17,528,214 
(1) Net sales by reportable segment:
$36,820 $30,698 $153,306 $124,556 
20,794 16,900 89,307 68,640 
Greater China
14,563 7,946 68,366 40,308 
5,991 5,023 28,482 21,418 
Rest of Asia Pacific
5,192 4,131 26,356 19,593 
Total net sales
$83,360 $64,698 $365,817 $274,515 
(1) Net sales by category:
$38,868 $26,444 $191,973 $137,781 
9,178 9,032 35,190 28,622 
8,252 6,797 31,862 23,724 
Wearables, Home and Accessories
8,785 7,876 38,367 30,620 
18,277 14,549 68,425 53,768 
Total net sales
$83,360 $64,698 $365,817 $274,515 

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

September 25,
September 26,
Current assets:
Cash and cash equivalents
$34,940 $38,016 
Marketable securities
27,699 52,927 
Accounts receivable, net
26,278 16,120 
6,580 4,061 
Vendor non-trade receivables
25,228 21,325 
Other current assets
14,111 11,264 
Total current assets
134,836 143,713 
Non-current assets:
Marketable securities
127,877 100,887 
Property, plant and equipment, net
39,440 36,766 
Other non-current assets
48,849 42,522 
Total non-current assets
216,166 180,175 
Total assets
$351,002 $323,888 
Current liabilities:
Accounts payable
$54,763 $42,296 
Other current liabilities
47,493 42,684 
Deferred revenue
7,612 6,643 
Commercial paper
6,000 4,996 
Term debt
9,613 8,773 
Total current liabilities
125,481 105,392 
Non-current liabilities:
Term debt
109,106 98,667 
Other non-current liabilities
53,325 54,490 
Total non-current liabilities
162,431 153,157 
Total liabilities
287,912 258,549 
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,426,786 and 16,976,763 shares issued and outstanding, respectively
57,365 50,779 
Retained earnings
5,562 14,966 
Accumulated other comprehensive income/(loss)
163 (406)
Total shareholders’ equity
63,090 65,339 
Total liabilities and shareholders’ equity
$351,002 $323,888 

Apple Inc.
(In millions)
Twelve Months Ended
September 25,
September 26,
Cash, cash equivalents and restricted cash, beginning balances
$39,789 $50,224 
Operating activities:
Net income94,680 57,411 
Adjustments to reconcile net income to cash generated by operating activities:
Depreciation and amortization11,284 11,056 
Share-based compensation expense7,906 6,829 
Deferred income tax benefit(4,774)(215)
Changes in operating assets and liabilities:
Accounts receivable, net(10,125)6,917 
Vendor non-trade receivables(3,903)1,553 
Other current and non-current assets(8,042)(9,588)
Accounts payable12,326 (4,062)
Deferred revenue1,676 2,081 
Other current and non-current liabilities5,799 8,916 
Cash generated by operating activities104,038 80,674 
Investing activities:
Purchases of marketable securities(109,558)(114,938)
Proceeds from maturities of marketable securities59,023 69,918 
Proceeds from sales of marketable securities47,460 50,473 
Payments for acquisition of property, plant and equipment(11,085)(7,309)
Payments made in connection with business acquisitions, net(33)(1,524)
Cash used in investing activities(14,545)(4,289)
Financing activities:
Proceeds from issuance of common stock1,105 880 
Payments for taxes related to net share settlement of equity awards(6,556)(3,634)
Payments for dividends and dividend equivalents(14,467)(14,081)
Repurchases of common stock(85,971)(72,358)
Proceeds from issuance of term debt, net20,393 16,091 
Repayments of term debt(8,750)(12,629)
Proceeds from/(Repayments of) commercial paper, net1,022 (963)
Cash used in financing activities(93,353)(86,820)
Decrease in cash, cash equivalents and restricted cash(3,860)(10,435)
Cash, cash equivalents and restricted cash, ending balances$35,929 $39,789 
Supplemental cash flow disclosure:
Cash paid for income taxes, net$25,385 $9,501 
Cash paid for interest$2,687 $3,002 

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Ticker: AAPL
CIK: 320193
Form Type: 8-K Corporate News
Accession Number: 0000320193-21-000104
Submitted to the SEC: Thu Oct 28 2021 4:30:23 PM EST
Accepted by the SEC: Thu Oct 28 2021
Period: Thursday, October 28, 2021
Industry: Electronic Computers
  1. Earnings Release
  2. Financial Exhibit

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