Apple Inc.

Business Overview

The Company designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. It also sells a variety of related services, including advertising, fee-based support, cloud services, digital content platforms and subscriptions, and payment services. The Company manages its business primarily on a geographic basis, with reportable segments encompassing the Americas, Europe, Greater China, Japan, and Rest of Asia Pacific.

Company Background The Company designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The Company’s fiscal year is the 52- or 53-week period that ends on the last Saturday of September. Products iPhone iPhone ® is the Company’s line of smartphones based on its iOS operating system. The iPhone line includes iPhone 17 Pro, iPhone Air™, iPhone 17, iPhone 16 and iPhone 16e. Mac Mac ® is the Company’s line of personal computers based on its macOS ® operating system. The Mac line includes laptops MacBook Air ® and MacBook Pro ® , as well as desktops iMac ® , Mac mini ® , Mac Studio ® and Mac Pro ® . iPad iPad ® is the Company’s line of multipurpose tablets based on its iPadOS ® operating system. The iPad line includes iPad Pro ® , iPad Air ® , iPad and iPad mini ® . Wearables, Home and Accessories Wearables includes smartwatches, wireless headphones and spatial computers. The Company’s line of smartwatches, based on its watchOS ® operating system, includes Apple Watch ® Series 11, Apple Watch SE ® 3 and Apple Watch Ultra ® 3. The Company’s line of wireless headphones includes AirPods ® , AirPods Pro ® , AirPods Max ® and Beats ® products. Apple Vision Pro™ is the Company’s spatial computer based on its visionOS ® operating system. Home includes Apple TV 4K ® , the Company’s media streaming and gaming device based on its tvOS ® operating system, and HomePod ® and HomePod mini ® , high-fidelity wireless smart speakers. Accessories includes Apple-branded and third-party accessories. Apple Inc. | 2025 Form 10-K | 1 Services Advertising The Company’s advertising services include third-party licensing arrangements and the Company’s own advertising platforms. AppleCare The Company offers a portfolio of fee-based service and support products under the AppleCare ® brand. The offerings provide priority access to Apple technical support, access to the global Apple authorized service network for repair and replacement services, and in many cases additional coverage for instances of accidental damage or theft and loss, depending on the country and type of product. Cloud Services The Company’s cloud services store and keep customers’ content up-to-date and available across multiple Apple devices and Windows personal computers. Digital Content The Company operates various platforms, including the App Store ® , that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. The Company also offers digital content through subscription-based services, including Apple Arcade ® , a game service; Apple Fitness+ ® , a personalized fitness service; Apple Music ® , which offers users a curated listening experience with on-demand radio stations; Apple News+ ® , a news and magazine service; and Apple TV ® , which offers exclusive original content and live sports. Payment Services The Company offers payment services, including Apple Card ® , a co-branded credit card, and Apple Pay ® , a cashless payment service. Segments The Company manages its business primarily on a geographic basis. The Company’s reportable segments consist of the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. Americas includes both North and South America. Europe includes European countries, as well as India, the Middle East and Africa. Greater China includes China mainland, Hong Kong and Taiwan.

Company Facts

Risk Flags

• High debt-to-equity: 3.87
• Current ratio below 1: 0.89

Key Questions