APPLE INC., 10-K filed on 10/31/2025
Annual Report
v3.25.3
Cover Page - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 27, 2025
Oct. 17, 2025
Mar. 28, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --09-27    
Document Period End Date Sep. 27, 2025    
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 Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction Flag false    
Entity Shell Company false    
Entity Public Float     $ 3,253,431
Entity Common Stock, Shares Outstanding (in shares)   14,776,353  
Documents Incorporated by Reference
Portions of the Registrant’s definitive proxy statement relating to its 2026 annual meeting of shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The Registrant’s definitive proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000320193    
Common Stock, $0.00001 par value per share      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock, $0.00001 par value per share    
Trading Symbol AAPL    
Security Exchange Name NASDAQ    
0.000% Notes due 2025      
Entity Information [Line Items]      
Title of 12(b) Security 0.000% Notes due 2025    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.625% Notes due 2026      
Entity Information [Line Items]      
Title of 12(b) Security 1.625% Notes due 2026    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
2.000% Notes due 2027      
Entity Information [Line Items]      
Title of 12(b) Security 2.000% Notes due 2027    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
1.375% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 1.375% Notes due 2029    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
3.050% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 3.050% Notes due 2029    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
0.500% Notes due 2031      
Entity Information [Line Items]      
Title of 12(b) Security 0.500% Notes due 2031    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
3.600% Notes due 2042      
Entity Information [Line Items]      
Title of 12(b) Security 3.600% Notes due 2042    
No Trading Symbol Flag true    
Security Exchange Name NASDAQ    
v3.25.3
Auditor Information
 12 Months Ended
Sep. 27, 2025
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location San Jose, California
Auditor Firm ID 42
v3.25.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Net sales $ 416,161 $ 391,035 $ 383,285
Cost of sales 220,960 210,352 214,137
Gross margin 195,201 180,683 169,148
Operating expenses:      
Research and development 34,550 31,370 29,915
Selling, general and administrative 27,601 26,097 24,932
Total operating expenses 62,151 57,467 54,847
Operating income 133,050 123,216 114,301
Other income/(expense), net (321) 269 (565)
Income before provision for income taxes 132,729 123,485 113,736
Provision for income taxes 20,719 29,749 16,741
Net income $ 112,010 $ 93,736 $ 96,995
Earnings per share:      
Basic (in dollars per share) $ 7.49 $ 6.11 $ 6.16
Diluted (in dollars per share) $ 7.46 $ 6.08 $ 6.13
Shares used in computing earnings per share:      
Basic (in shares) 14,948,500 15,343,783 15,744,231
Diluted (in shares) 15,004,697 15,408,095 15,812,547
Products      
Net sales $ 307,003 $ 294,866 $ 298,085
Cost of sales 194,116 185,233 189,282
Services      
Net sales 109,158 96,169 85,200
Cost of sales $ 26,844 $ 25,119 $ 24,855
v3.25.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 112,010 $ 93,736 $ 96,995
Other comprehensive income/(loss):      
Change in foreign currency translation, net of tax (267) 395 (765)
Change in unrealized gains/losses on derivative instruments, net of tax:      
Change in fair value of derivative instruments 849    
Change in fair value of derivative instruments   (832) 323
Adjustment for net (gains)/losses realized and included in net income 212    
Adjustment for net (gains)/losses realized and included in net income   (1,337) (1,717)
Total change in unrealized gains/losses on derivative instruments 637    
Total change in unrealized gains/losses on derivative instruments   (2,169) (1,394)
Change in unrealized gains/losses on marketable debt securities, net of tax:      
Change in fair value of marketable debt securities 817 5,850 1,563
Adjustment for net (gains)/losses realized and included in net income 414 204 253
Total change in unrealized gains/losses on marketable debt securities 1,231 6,054 1,816
Total other comprehensive income/(loss) 1,601 4,280 (343)
Total comprehensive income $ 113,611 $ 98,016 $ 96,652
v3.25.3
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Millions
Sep. 27, 2025
Sep. 28, 2024
Current assets:    
Cash and cash equivalents $ 35,934 $ 29,943
Marketable securities 18,763 35,228
Accounts receivable, net 39,777 33,410
Vendor non-trade receivables 33,180 32,833
Inventories 5,718 7,286
Other current assets 14,585 14,287
Total current assets 147,957 152,987
Non-current assets:    
Marketable securities 77,723 91,479
Property, plant and equipment, net 49,834 45,680
Other non-current assets 83,727 74,834
Total non-current assets 211,284 211,993
Total assets 359,241 364,980
Current liabilities:    
Accounts payable 69,860 68,960
Other current liabilities 66,387 78,304
Deferred revenue 9,055 8,249
Commercial paper 7,979 9,967
Term debt 12,350 10,912
Total current liabilities 165,631 176,392
Non-current liabilities:    
Term debt 78,328 85,750
Other non-current liabilities 41,549 45,888
Total non-current liabilities 119,877 131,638
Total liabilities 285,508 308,030
Commitments and contingencies
Common stock, shares outstanding (in shares) 14,773,260 15,116,786
Common stock, shares issued (in shares) 14,773,260 15,116,786
Shareholders’ equity:    
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,773,260 and 15,116,786 shares issued and outstanding, respectively $ 93,568 $ 83,276
Accumulated deficit (14,264) (19,154)
Accumulated other comprehensive loss (5,571) (7,172)
Total shareholders’ equity 73,733 56,950
Total liabilities and shareholders’ equity $ 359,241 $ 364,980
v3.25.3
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Sep. 27, 2025
Sep. 28, 2024
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) 14,773,260,000 15,116,786,000
Common stock, shares outstanding (in shares) 14,773,260,000 15,116,786,000
v3.25.3
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common stock and additional paid-in capital
Retained earnings/(Accumulated deficit)
Accumulated other comprehensive income/(loss)
Beginning balances at Sep. 24, 2022 $ 50,672 $ 64,849 $ (3,068) $ (11,109)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issued   1,346    
Common stock withheld related to net share settlement of equity awards   (3,521) (2,099)  
Share-based compensation   11,138    
Net income 96,995   96,995  
Dividends and dividend equivalents declared     (14,996)  
Common stock repurchased     (77,046)  
Other comprehensive income/(loss) (343)     (343)
Ending balances at Sep. 30, 2023 $ 62,146 73,812 (214) (11,452)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.94      
Common stock issued   1,423    
Common stock withheld related to net share settlement of equity awards   (3,993) (1,612)  
Share-based compensation   12,034    
Net income $ 93,736   93,736  
Dividends and dividend equivalents declared     (15,218)  
Common stock repurchased     (95,846)  
Other comprehensive income/(loss) 4,280     4,280
Ending balances at Sep. 28, 2024 $ 56,950 83,276 (19,154) (7,172)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.98      
Common stock issued   1,498    
Common stock withheld related to net share settlement of equity awards   (4,452) (1,655)  
Share-based compensation   13,246    
Net income $ 112,010   112,010  
Dividends and dividend equivalents declared     (15,413)  
Common stock repurchased (89,300)   (90,052)  
Other comprehensive income/(loss) 1,601     1,601
Ending balances at Sep. 27, 2025 $ 73,733 $ 93,568 $ (14,264) $ (5,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 1.02      
v3.25.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Statement of Cash Flows [Abstract]      
Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances $ 29,943 $ 30,737 $ 24,977
Operating activities:      
Net income 112,010 93,736 96,995
Adjustments to reconcile net income to cash generated by operating activities:      
Depreciation and amortization 11,698 11,445 11,519
Share-based compensation expense 12,863 11,688 10,833
Other (89) (2,266) (2,227)
Changes in operating assets and liabilities:      
Accounts receivable, net (6,682) (3,788) (1,688)
Vendor non-trade receivables (347) (1,356) 1,271
Inventories 1,400 (1,046) (1,618)
Other current and non-current assets (9,197) (11,731) (5,684)
Accounts payable 902 6,020 (1,889)
Other current and non-current liabilities (11,076) 15,552 3,031
Cash generated by operating activities 111,482 118,254 110,543
Investing activities:      
Purchases of marketable securities (24,407) (48,656) (29,513)
Proceeds from maturities of marketable securities 40,907 51,211 39,686
Proceeds from sales of marketable securities 12,890 11,135 5,828
Payments for acquisition of property, plant and equipment (12,715) (9,447) (10,959)
Other (1,480) (1,308) (1,337)
Cash generated by investing activities 15,195 2,935 3,705
Financing activities:      
Payments for taxes related to net share settlement of equity awards (5,960) (5,441) (5,431)
Payments for dividends and dividend equivalents (15,421) (15,234) (15,025)
Repurchases of common stock (90,711) (94,949) (77,550)
Proceeds from issuance of term debt, net 4,481 0 5,228
Repayments of term debt (10,932) (9,958) (11,151)
Proceeds from/(Repayments of) commercial paper, net (2,032) 3,960 (3,978)
Other (111) (361) (581)
Cash used in financing activities (120,686) (121,983) (108,488)
Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents 5,991 (794) 5,760
Cash, cash equivalents, and restricted cash and cash equivalents, ending balances 35,934 29,943 30,737
Supplemental cash flow disclosure:      
Cash paid for income taxes, net $ 43,369 $ 26,102 $ 18,679
v3.25.3
Summary of Significant Accounting Policies
 12 Months Ended
Sep. 27, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation and Preparation
The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries. The preparation of these consolidated financial statements and accompanying notes in conformity with GAAP requires the use of management estimates. Certain prior period amounts in the notes to consolidated financial statements have been reclassified to conform to the current period’s presentation.
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, which occurred in the first fiscal quarter of 2023. The Company’s fiscal years 2025 and 2024 spanned 52 weeks each, whereas fiscal year 2023 spanned 53 weeks. 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.
Recently Adopted Accounting Pronouncements
Segment Reporting
Beginning with the 2025 annual reporting period, the Company adopted the FASB’s ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires the Company to disclose segment expenses that are significant and regularly provided to the Company’s chief operating decision maker (“CODM”). In addition, ASU 2023-07 requires the Company to disclose the title and position of its CODM and how the CODM uses segment profit or loss information in assessing segment performance and deciding how to allocate resources. The Company adopted ASU 2023-07 using a retrospective transition method.
Revenue
The Company records revenue net of taxes collected from customers that are remitted to governmental authorities.
Share-Based Compensation
The Company recognizes share-based compensation expense on a straight-line basis for its estimate of equity awards that will ultimately vest.
Cash Equivalents
All highly liquid investments with maturities of three months or less at the date of purchase are treated as cash equivalents.
Trade Receivables
Trade receivables are stated at transaction price.
Marketable Securities
The cost of securities sold is determined using the specific identification method.
Inventories
Inventories are measured using the first-in, first-out method.
Property, Plant and Equipment
Property, plant and equipment are stated at cost. Depreciation on property, plant and equipment is recognized on a straight-line basis.
Derivative Instruments
The Company presents derivative assets and liabilities at their gross fair values in the Consolidated Balance Sheets.
Income Taxes
The Company records certain deferred tax assets and liabilities in connection with the minimum tax on certain foreign earnings created by the TCJA.
Leases
The Company combines and accounts for lease and nonlease components as a single lease component for leases of corporate and retail facilities.
v3.25.3
Revenue
 12 Months Ended
Sep. 27, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company recognizes revenue at the amount to which it expects to be entitled when control of products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products or services are transferred to its customers. For most of the Company’s Products net sales, control transfers when products are shipped. For the Company’s Services net sales, control transfers over time as services are delivered. Payment for Products and Services net sales is collected within a short period following transfer of control or commencement of delivery of services, as applicable.
The Company records reductions to Products net sales related to future product returns, price protection and other customer incentive programs based on the Company’s expectations and historical experience.
For arrangements with multiple performance obligations, which represent promises within an arrangement that are distinct, the Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices (“SSPs”). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company’s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company’s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the unique facts and circumstances related to each performance obligation including, where applicable, prices charged by the Company for similar offerings, market trends in the pricing for similar offerings, product-specific business objectives and the estimated cost to provide the performance obligation.
The Company has identified the performance obligations regularly included in arrangements involving the sale of iPhone, Mac and iPad. The first material performance obligation, which represents the substantial portion of the allocated sales price, is the hardware and bundled software delivered at the time of sale. The second material performance obligation is the right to receive certain product-related bundled services, which include iCloud®, Siri® and Maps. The Company allocates revenue and any related discounts to all of its performance obligations based on their relative SSPs. Because the Company lacks observable prices for product-related bundled services, the allocation of revenue is based on the Company’s estimated SSPs. Revenue allocated to the delivered hardware and bundled software is recognized when control has transferred to the customer, which generally occurs when the product is shipped. Revenue allocated to product-related bundled services is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided.
For certain long-term service arrangements, the Company has performance obligations for services it has not yet delivered. For these arrangements, the Company does not have a right to bill for the undelivered services. The Company has determined that any unbilled consideration relates entirely to the value of the undelivered services. Accordingly, the Company has not recognized revenue, and does not disclose amounts, related to these undelivered services.
For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. For third-party applications sold through the App Store, the Company does not obtain control of the product before transferring it to the customer. Therefore, the Company accounts for all third-party application–related sales on a net basis by recognizing in Services net sales only the commission it retains.
The following table shows disaggregated net sales, as well as the portion of total net sales that was previously deferred, for 2025, 2024 and 2023 (in millions):
202520242023
iPhone
$209,586 $201,183 $200,583 
Mac
33,708 29,984 29,357 
iPad
28,023 26,694 28,300 
Wearables, Home and Accessories
35,686 37,005 39,845 
Services (1)
109,158 96,169 85,200 
Total net sales$416,161 $391,035 $383,285 
Portion of total net sales that was included in deferred revenue as of the beginning of the period$8,229 $7,728 $8,169 
(1)Services net sales include amortization of the deferred value of services bundled in the sales price of certain products.
The Company’s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 13, “Segment Information and Geographic Data” for 2025, 2024 and 2023, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales.
As of September 27, 2025 and September 28, 2024, the Company had total deferred revenue of $13.7 billion and $12.8 billion, respectively. As of September 27, 2025, the Company expects 66% of total deferred revenue to be realized in less than a year, 23% within one-to-two years, 9% within two-to-three years and 2% in greater than three years.
v3.25.3
Earnings Per Share
 12 Months Ended
Sep. 27, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table shows the computation of basic and diluted earnings per share for 2025, 2024 and 2023 (net income in millions and shares in thousands):
202520242023
Numerator:
Net income$112,010 $93,736 $96,995 
Denominator:
Weighted-average basic shares outstanding14,948,500 15,343,783 15,744,231 
Effect of dilutive share-based awards56,197 64,312 68,316 
Weighted-average diluted shares15,004,697 15,408,095 15,812,547 
Basic earnings per share$7.49 $6.11 $6.16 
Diluted earnings per share$7.46 $6.08 $6.13 
Approximately 24 million restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share for 2023 because their effect would have been antidilutive.
v3.25.3
Financial Instruments
 12 Months Ended
Sep. 27, 2025
Financial Instruments [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 September 27, 2025 and September 28, 2024 (in millions):
2025
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash$28,267 $— $— $28,267 $28,267 $— $— 
Level 1:
Money market funds5,272 — — 5,272 5,272 — — 
Mutual funds
679 177 (2)854 — 854 — 
Subtotal5,951 177 (2)6,126 5,272 854 — 
Level 2 (1):
U.S. Treasury securities16,074 56 (282)15,848 1,190 3,712 10,946 
U.S. agency securities5,269 — (149)5,120 251 2,456 2,413 
Non-U.S. government securities6,586 111 (424)6,273 — 855 5,418 
Certificates of deposit and time deposits917 — — 917 904 — 13 
Commercial paper100 — — 100 50 50 — 
Corporate debt securities47,210 266 (916)46,560 — 10,623 35,937 
Municipal securities207 — (2)205 — 119 86 
Mortgage- and asset-backed securities24,130 126 (1,252)23,004 — 94 22,910 
Subtotal100,493 559 (3,025)98,027 2,395 17,909 77,723 
Total
$134,711 $736 $(3,027)$132,420 $35,934 $18,763 $77,723 
2024
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash$27,199 $— $— $27,199 $27,199 $— $— 
Level 1:
Money market funds778 — — 778 778 — — 
Mutual funds
515 105 (3)617 — 617 — 
Subtotal1,293 105 (3)1,395 778 617 — 
Level 2 (1):
U.S. Treasury securities16,150 45 (516)15,679 212 4,087 11,380 
U.S. agency securities5,431 — (272)5,159 155 703 4,301 
Non-U.S. government securities17,959 93 (484)17,568 1,158 10,810 5,600 
Certificates of deposit and time deposits873 — — 873 387 478 8 
Commercial paper1,066 — — 1,066 28 1,038 — 
Corporate debt securities65,622 270 (1,953)63,939 26 16,027 47,886 
Municipal securities412 — (7)405 — 190 215 
Mortgage- and asset-backed securities24,595 175 (1,403)23,367 — 1,278 22,089 
Subtotal132,108 583 (4,635)128,056 1,966 34,611 91,479 
Total (2)(3)
$160,600 $688 $(4,638)$156,650 $29,943 $35,228 $91,479 
(1)The valuation techniques used to measure the fair values of the Company’s Level 2 financial instruments, which generally have counterparties with high credit ratings, are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data.
(2)As of September 28, 2024, cash and cash equivalents included $2.6 billion held in escrow and restricted from general use. These restricted cash and cash equivalents were designated to settle the Company’s obligation related to the State Aid Decision (refer to Note 7, “Income Taxes”).
(3)As of September 28, 2024, current marketable securities included $13.2 billion held in escrow and restricted from general use. These restricted marketable securities were designated to settle the Company’s obligation related to the State Aid Decision (refer to Note 7, “Income Taxes”).
As of September 27, 2025, 80% of the Company’s non-current marketable debt securities other than mortgage- and asset-backed securities had maturities between 1 and 5 years, 15% between 5 and 10 years, and 5% greater than 10 years. As of September 27, 2025, 13% of the Company’s non-current mortgage- and asset-backed securities had maturities between 1 and 5 years, 14% between 5 and 10 years, and 73% greater than 10 years.
The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale. The Company classifies marketable debt securities as either current or non-current based on each instrument’s underlying maturity.
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.
All derivative instruments are recorded in the Consolidated Balance Sheets at fair value. The accounting treatment for derivative gains and losses is based on intended use and hedge designation.
Gains and losses arising from amounts that are included in the assessment of cash flow hedge effectiveness are initially deferred in accumulated other comprehensive income/(loss) and subsequently reclassified into earnings when the hedged transaction affects earnings, and in the same line item in the Consolidated Statements of Operations. Gains and losses arising from amounts that are included in the assessment of fair value hedge effectiveness are recognized in the Consolidated Statements of Operations line item to which the hedge relates along with offsetting losses and gains related to the change in value of the hedged item.
For derivative instruments designated as cash flow and fair value hedges, amounts excluded from the assessment of hedge effectiveness are recognized on a straight-line basis over the life of the hedge in the Consolidated Statements of Operations line item to which the hedge relates. Changes in the fair value of amounts excluded from the assessment of hedge effectiveness are recognized in other comprehensive income/(loss).
Gains and losses arising from changes in the fair values of derivative instruments that are not designated as accounting hedges are recognized in the Consolidated Statements of Operations.
The Company classifies cash flows related to derivative instruments in the same section of the Consolidated Statements of Cash Flows as the items being hedged, which are generally classified as operating activities.
Foreign Exchange Rate Risk
To protect gross margins from fluctuations in foreign exchange rates, the Company may use forwards, options 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 exchange rates, the Company may use forwards, cross-currency swaps or other instruments. The Company designates these instruments as either cash flow or fair value hedges. As of September 27, 2025, the maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for term debt–related foreign currency transactions is 17 years.
The Company may also use derivative instruments that are not designated as accounting hedges to protect gross margins from certain fluctuations in foreign exchange rates, as well as to offset a portion of the foreign currency 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 use 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 September 27, 2025 and September 28, 2024, were as follows (in millions):
20252024
Derivative instruments designated as accounting hedges:
Foreign exchange contracts$62,647 $64,069 
Interest rate contracts$12,875 $14,575 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts$109,079 $91,493 
As of September 27, 2025 and September 28, 2024, the carrying amount of the Company’s current and non-current term debt subject to fair value hedges was $12.6 billion and $13.5 billion, respectively.
Accounts Receivable
Trade Receivables
As of September 27, 2025, the Company had one customer that represented 10% or more of total trade receivables, which accounted for 12%. The Company’s third-party cellular network carriers accounted for 34% and 38% of total trade receivables as of September 27, 2025 and September 28, 2024, respectively. The Company requires third-party credit support or collateral from certain customers to limit credit risk.
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. The Company does not reflect the sale of these components in products net sales. Rather, the Company recognizes any gain on these sales as a reduction of products cost of sales when the related final products are sold by the Company. As of September 27, 2025, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 46% and 23%. As of September 28, 2024, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 44% and 23%.
v3.25.3
Property, Plant and Equipment
 12 Months Ended
Sep. 27, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
The following table shows the Company’s gross property, plant and equipment by major asset class and accumulated depreciation as of September 27, 2025 and September 28, 2024 (in millions):
20252024
Land and buildings$27,337 $24,690 
Machinery, equipment and internal-use software
83,420 80,205 
Leasehold improvements15,091 14,233 
Gross property, plant and equipment125,848 119,128 
Accumulated depreciation
(76,014)(73,448)
Total property, plant and equipment, net$49,834 $45,680 
Depreciation expense on property, plant and equipment was $8.0 billion, $8.2 billion and $8.5 billion during 2025, 2024 and 2023, respectively.
v3.25.3
Consolidated Financial Statement Details
 12 Months Ended
Sep. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated Financial Statement Details Consolidated Financial Statement Details
The following tables show the Company’s consolidated financial statement details as of September 27, 2025 and September 28, 2024 (in millions):
Other Non-Current Assets
20252024
Deferred tax assets$20,777 $19,499 
Other non-current assets62,950 55,335 
Total other non-current assets$83,727 $74,834 
Other Current Liabilities
20252024
Income taxes payable$13,016 $26,601 
Accrued distribution and marketing
8,919 7,679 
Other current liabilities44,452 44,024 
Total other current liabilities$66,387 $78,304 
v3.25.3
Income Taxes
 12 Months Ended
Sep. 27, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
European Commission State Aid Decision
On August 30, 2016, the Commission announced its decision that Ireland granted state aid to the Company by providing tax opinions in 1991 and 2007 concerning the tax allocation of profits of the Irish branches of two subsidiaries of the Company (“State Aid Decision”). The State Aid Decision ordered Ireland to calculate and recover additional taxes from the Company for the period June 2003 through December 2014. Irish legislative changes, effective as of January 2015, eliminated the application of the tax opinions from that date forward.
The Company and Ireland appealed the State Aid Decision to the General Court of the Court of Justice of the European Union (“General Court”). On July 15, 2020, the General Court annulled the State Aid Decision. On September 25, 2020, the Commission appealed the General Court’s decision to the European Court of Justice (“ECJ”). On September 10, 2024, the ECJ announced that it had set aside the 2020 judgment of the General Court and confirmed the Commission’s 2016 State Aid Decision. As a result, during the fourth quarter of 2024 the Company recorded a one-time income tax charge of $10.2 billion, net, which represented $15.8 billion payable to Ireland via release of amounts held in escrow, partially offset by a U.S. foreign tax credit of $4.8 billion and a decrease in unrecognized tax benefits of $823 million.
Provision for Income Taxes and Effective Tax Rate
The provision for income taxes for 2025, 2024 and 2023, consisted of the following (in millions):
202520242023
Federal:
Current$11,487 $5,571 $9,445 
Deferred(1,804)(3,080)(3,644)
Total9,683 2,491 5,801 
State:
Current1,680 1,726 1,570 
Deferred(139)(298)(49)
Total1,541 1,428 1,521 
Foreign:
Current8,891 25,483 8,750 
Deferred604 347 669 
Total9,495 25,830 9,419 
Provision for income taxes$20,719 $29,749 $16,741 
Foreign pretax earnings were $82.0 billion, $77.3 billion and $72.9 billion in 2025, 2024 and 2023, respectively.
A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate (21% in 2025, 2024 and 2023) to income before provision for income taxes for 2025, 2024 and 2023 is as follows (dollars in millions):
202520242023
Computed expected tax$27,873 $25,932 $23,885 
Earnings of foreign subsidiaries(8,120)(5,311)(5,744)
Change in valuation allowance
2,091 — — 
Research and development credit, net(1,049)(1,397)(1,212)
Impact of the State Aid Decision
(486)10,246 — 
Other410 279 (188)
Provision for income taxes$20,719 $29,749 $16,741 
Effective tax rate15.6%24.1%14.7%
Deferred Tax Assets and Liabilities
As of September 27, 2025 and September 28, 2024, the significant components of the Company’s deferred tax assets and liabilities were as follows (in millions):
20252024
Deferred tax assets:
Capitalized research and development$15,041 $10,739 
Tax credit carryforwards8,643 8,856 
Accrued liabilities and other reserves6,154 6,114 
Deferred revenue2,953 3,413 
Lease liabilities2,577 2,410 
Other3,049 3,341 
Total deferred tax assets38,417 34,873 
Less: Valuation allowance(10,966)(8,866)
Total deferred tax assets, net27,451 26,007 
Deferred tax liabilities:
Depreciation3,276 2,551 
Right-of-use assets2,300 2,125 
Minimum tax on foreign earnings1,217 1,674 
Other678 455 
Total deferred tax liabilities7,471 6,805 
Net deferred tax assets$19,980 $19,202 
As of September 27, 2025, the Company had $4.7 billion in foreign tax credit carryforwards in Ireland and $4.0 billion in California R&D credit carryforwards, both of which can be carried forward indefinitely. A valuation allowance has been recorded for the credit carryforwards and a portion of other temporary differences.
Uncertain Tax Positions
As of September 27, 2025, the total amount of gross unrecognized tax benefits was $23.2 billion, of which $10.6 billion, if recognized, would impact the Company’s effective tax rate. As of September 28, 2024, the total amount of gross unrecognized tax benefits was $22.0 billion, of which $10.8 billion, if recognized, would have impacted the Company’s effective tax rate.
The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2025, 2024 and 2023 is as follows (in millions):
202520242023
Beginning balances$22,038 $19,454 $16,758 
Increases related to tax positions taken during a prior year1,971 1,727 2,044 
Decreases related to tax positions taken during a prior year(71)(386)(1,463)
Increases related to tax positions taken during the current year3,795 2,542 2,628 
Decreases related to settlements with taxing authorities(2,939)(1,070)(19)
Decreases related to expiration of the statute of limitations(1,552)(229)(494)
Ending balances$23,242 $22,038 $19,454 
The Company is subject to taxation and files income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. Tax years 2018 and after 2021 for the U.S. federal jurisdiction, and after 2014 in certain major foreign jurisdictions, remain subject to examination. Although the timing of resolution or closure of examinations is not certain, the Company believes it is reasonably possible that its gross unrecognized tax benefits could decrease as much as $6 billion in the next 12 months.
v3.25.3
Leases
 12 Months Ended
Sep. 27, 2025
Leases [Abstract]  
Leases Leases
The Company has lease arrangements for certain equipment and facilities, including corporate, data center, manufacturing and retail space. These leases typically have original terms not exceeding 10 years and generally contain multiyear renewal options, some of which are reasonably certain of exercise.
Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $2.1 billion for 2025 and $2.0 billion for both 2024 and 2023. Lease costs associated with variable payments on the Company’s leases were $16.1 billion, $13.8 billion and $13.9 billion for 2025, 2024 and 2023, respectively.
The Company made fixed cash payments related to operating leases of $2.1 billion in 2025 and $1.9 billion in both 2024 and 2023. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $2.8 billion, $1.0 billion and $2.1 billion for 2025, 2024 and 2023, respectively.
The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 27, 2025 and September 28, 2024 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20252024
Right-of-use assets:
Operating leasesOther non-current assets$11,205 $10,234 
Finance leasesProperty, plant and equipment, net1,033 1,069 
Total right-of-use assets$12,238 $11,303 
Lease liabilities:
Operating leasesOther current liabilities$1,579 $1,488 
Other non-current liabilities10,911 10,046 
Finance leasesOther current liabilities538 144 
Other non-current liabilities692 752 
Total lease liabilities$13,720 $12,430 
Lease liability maturities as of September 27, 2025, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2026$1,967 $563 $2,530 
20271,988 73 2,061 
20281,848 51 1,899 
20291,585 48 1,633 
20301,381 43 1,424 
Thereafter5,956 801 6,757 
Total undiscounted liabilities14,725 1,579 16,304 
Less: Imputed interest(2,235)(349)(2,584)
Total lease liabilities$12,490 $1,230 $13,720 
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 9.8 years and 10.3 years, respectively. The discount rate related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 3.4% and 3.1%, respectively. The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined.
As of September 27, 2025, the Company had $523 million of fixed payment obligations under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases are expected to commence between 2026 and 2027, with lease terms ranging from 1 year to 21 years.
Leases Leases
The Company has lease arrangements for certain equipment and facilities, including corporate, data center, manufacturing and retail space. These leases typically have original terms not exceeding 10 years and generally contain multiyear renewal options, some of which are reasonably certain of exercise.
Payments under the Company’s lease arrangements may be fixed or variable, and variable lease payments are primarily based on purchases of output of the underlying leased assets. Lease costs associated with fixed payments on the Company’s operating leases were $2.1 billion for 2025 and $2.0 billion for both 2024 and 2023. Lease costs associated with variable payments on the Company’s leases were $16.1 billion, $13.8 billion and $13.9 billion for 2025, 2024 and 2023, respectively.
The Company made fixed cash payments related to operating leases of $2.1 billion in 2025 and $1.9 billion in both 2024 and 2023. Noncash activities involving right-of-use (“ROU”) assets obtained in exchange for lease liabilities were $2.8 billion, $1.0 billion and $2.1 billion for 2025, 2024 and 2023, respectively.
The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 27, 2025 and September 28, 2024 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20252024
Right-of-use assets:
Operating leasesOther non-current assets$11,205 $10,234 
Finance leasesProperty, plant and equipment, net1,033 1,069 
Total right-of-use assets$12,238 $11,303 
Lease liabilities:
Operating leasesOther current liabilities$1,579 $1,488 
Other non-current liabilities10,911 10,046 
Finance leasesOther current liabilities538 144 
Other non-current liabilities692 752 
Total lease liabilities$13,720 $12,430 
Lease liability maturities as of September 27, 2025, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2026$1,967 $563 $2,530 
20271,988 73 2,061 
20281,848 51 1,899 
20291,585 48 1,633 
20301,381 43 1,424 
Thereafter5,956 801 6,757 
Total undiscounted liabilities14,725 1,579 16,304 
Less: Imputed interest(2,235)(349)(2,584)
Total lease liabilities$12,490 $1,230 $13,720 
The weighted-average remaining lease term related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 9.8 years and 10.3 years, respectively. The discount rate related to the Company’s lease liabilities as of September 27, 2025 and September 28, 2024 was 3.4% and 3.1%, respectively. The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined.
As of September 27, 2025, the Company had $523 million of fixed payment obligations under additional leases, primarily for corporate facilities and retail space, that had not yet commenced. These leases are expected to commence between 2026 and 2027, with lease terms ranging from 1 year to 21 years.
v3.25.3
Debt
 12 Months Ended
Sep. 27, 2025
Debt Disclosure [Abstract]  
Debt Debt
Commercial Paper
The Company issues unsecured short-term promissory notes 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 September 27, 2025 and September 28, 2024, the Company had $8.0 billion and $10.0 billion of commercial paper outstanding, respectively, with maturities generally less than nine months. The weighted-average interest rate of the Company’s commercial paper was 4.19% and 5.00% as of September 27, 2025 and September 28, 2024, respectively. The following table provides a summary of cash flows associated with commercial paper for 2025, 2024 and 2023 (in millions):
202520242023
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net$(5,820)$3,960 $(1,333)
Maturities greater than 90 days:
Proceeds from commercial paper5,836 — — 
Repayments of commercial paper(2,048)— (2,645)
Proceeds from/(Repayments of) commercial paper, net3,788 — (2,645)
Total proceeds from/(repayments of) commercial paper, net$(2,032)$3,960 $(3,978)
Term Debt
The Company has outstanding Notes, which are senior unsecured obligations with interest payable in arrears. The following table provides a summary of the Company’s term debt as of September 27, 2025 and September 28, 2024:
Maturities
(calendar year)
20252024
Amount
(in millions)
Effective
Interest Rate
Amount
(in millions)
Effective
Interest Rate
2013 – 2023 debt issuances:
Fixed-rate 0.000% – 4.850% notes
2025 – 2062
$86,781 
0.03% – 5.75%
$97,341 
0.03% – 6.65%
2025 debt issuance:
Fixed-rate 4.000% – 4.750% notes
2028 – 2035
4,500 
4.07% – 4.83%
— 
Total term debt principal
91,281 97,341 
Unamortized premium/(discount) and issuance costs, net(309)(321)
Hedge accounting fair value adjustments(294)(358)
Total term debt
90,678 96,662 
Less: Current portion of term debt(12,350)(10,912)
Total non-current portion of term debt$78,328 $85,750 
To manage interest rate risk on certain of its U.S. dollar–denominated fixed-rate notes, the Company uses interest rate swaps to effectively convert the fixed interest rates to floating interest rates on a portion of these notes. Additionally, to manage foreign exchange rate risk on certain of its foreign currency–denominated notes, the Company uses cross-currency swaps to effectively convert these notes to U.S. dollar–denominated notes.
The effective interest rates for the Notes include the interest on the Notes, amortization of the discount or premium and, if applicable, adjustments related to hedging.
The future principal payments for the Company’s Notes as of September 27, 2025, are as follows (in millions):
2026$12,393 
202710,078 
20289,300 
20295,235 
20304,972 
Thereafter49,303 
Total term debt principal$91,281 
As of September 27, 2025 and September 28, 2024, the fair value of the Company’s Notes, based on Level 2 inputs, was $80.4 billion and $88.4 billion, respectively.
v3.25.3
Shareholders' Equity
 12 Months Ended
Sep. 27, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
During 2025, the Company repurchased 402 million shares of its common stock for $89.3 billion. The Company’s share repurchase programs do not obligate the Company to acquire a minimum amount of shares. Under the programs, shares may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
Shares of Common Stock
The following table shows the changes in shares of common stock for 2025, 2024 and 2023 (in thousands):
202520242023
Common stock outstanding, beginning balances15,116,786 15,550,061 15,943,425 
Common stock repurchased(401,672)(499,372)(471,419)
Common stock issued, net of shares withheld for employee taxes58,146 66,097 78,055 
Common stock outstanding, ending balances14,773,260 15,116,786 15,550,061 
v3.25.3
Share-Based Compensation
 12 Months Ended
Sep. 27, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
2022 Employee Stock Plan
The Apple Inc. 2022 Employee Stock Plan (“2022 Plan”) is a shareholder-approved plan that provides for broad-based equity grants to employees, including executive officers, and permits the granting of RSUs, stock grants, performance-based awards, stock options and stock appreciation rights. RSUs granted under the 2022 Plan generally vest over four years, based on continued employment, and are settled upon vesting in shares of the Company’s common stock on a one-for-one basis. All RSUs granted under the 2022 Plan have dividend equivalent rights, which entitle holders of RSUs to the same dividend value per share as holders of common stock. A maximum of approximately 1.3 billion shares were authorized for issuance pursuant to 2022 Plan awards at the time the plan was approved on March 4, 2022.
Restricted Stock Units
A summary of the Company’s RSU activity and related information for 2025 is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant-Date Fair
Value Per RSU
Balance as of September 28, 2024163,326 $158.73 
RSUs granted73,466 $226.68 
RSUs vested(76,845)$159.85 
RSUs forfeited
(8,373)$183.03 
Balance as of September 27, 2025151,574 $189.75 
The weighted-average grant-date fair value of RSUs granted in 2024 and 2023 was $173.78 and $150.87, respectively. The Company estimates the grant-date fair value of RSUs based on the closing price of the Company’s common stock on the date of grant.
The total vesting-date fair value of RSUs was $17.1 billion, $15.8 billion and $15.9 billion for 2025, 2024 and 2023, respectively. The majority of RSUs that vested in 2025, 2024 and 2023 were net share settled such that the Company withheld shares with a value equivalent to the employees’ obligation for the applicable income and other employment taxes, and remitted cash to the appropriate taxing authorities. Total payments to taxing authorities for employees’ tax obligations were $6.1 billion in 2025 and $5.6 billion in both 2024 and 2023.
Share-Based Compensation
The following table shows share-based compensation expense and the related income tax benefit included in the Consolidated Statements of Operations for 2025, 2024 and 2023 (in millions):
202520242023
Share-based compensation expense$12,863 $11,688 $10,833 
Income tax benefit related to share-based compensation expense$(3,602)$(3,350)$(3,421)
As of September 27, 2025, the total unrecognized compensation cost related to outstanding RSUs was $21.8 billion, which the Company expects to recognize over a weighted-average period of 2.5 years.
v3.25.3
Commitments, Contingencies and Supply Concentrations
 12 Months Ended
Sep. 27, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments, Contingencies and Supply Concentrations Commitments, Contingencies and Supply Concentrations
Unconditional Purchase Obligations
The Company has entered into certain off–balance sheet commitments that require the future purchase of goods or services (“unconditional purchase obligations”). The Company’s unconditional purchase obligations primarily consist of supplier arrangements, licensed intellectual property and content, and distribution rights. Future payments under unconditional purchase obligations with a remaining term in excess of one year as of September 27, 2025, are as follows (in millions):
2026$4,752 
20273,708 
20281,981 
20291,306 
2030788 
Thereafter773 
Total$13,308 
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.
Concentrations in the Available Sources of Supply of Materials and Product
Although most components essential to the Company’s business are generally available from multiple sources, certain components are currently obtained from single or limited sources. The Company also competes for various components with other participants in the markets for smartphones, personal computers, tablets, wearables and accessories. Therefore, many components used by the Company, including those that are available from multiple sources, are at times subject to industry-wide shortage and significant commodity pricing fluctuations. Restrictions on international trade can increase the cost or limit the availability of the Company’s products and the components and rare earths and other raw materials that go into them.
The Company uses some custom components that are not commonly used by its competitors, and new products introduced by the Company often utilize custom components available from only one source. When a component or product uses new technologies, initial capacity constraints may exist until the suppliers’ yields have matured or their manufacturing capacities have increased. The Company has entered into agreements for the supply of many components; however, the Company may not be able to extend or renew agreements for the supply of components on similar terms, or at all, and may not be successful in obtaining sufficient quantities from its suppliers or in a timely manner, or in identifying and obtaining sufficient quantities from an alternative source. In addition, component suppliers may fail, be subject to consolidation within a particular industry, or decide to concentrate on the production of common components instead of components customized to meet the Company’s requirements, further limiting the Company’s ability to obtain sufficient quantities of components on commercially reasonable terms, or at all.
Substantially all of the Company’s hardware products are manufactured by outsourcing partners that are located primarily in China mainland, India, Japan, South Korea, Taiwan and Vietnam.
v3.25.3
Segment Information and Geographic Data
 12 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
Segment Information and Geographic Data Segment Information and Geographic Data
The Company manages its business primarily on a geographic basis. The Company’s CEO is its CODM.
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. Rest of Asia Pacific includes Australia, New Zealand and those Asian countries not included in the Company’s other reportable segments. Although the reportable segments provide similar hardware and software products and similar services, each one is managed separately to better align with the location of the Company’s customers and distribution partners and the unique market dynamics of each geographic region.
The CODM uses segment net sales and operating income information to make certain decisions, such as product and service pricing, and to decide how to allocate resources related to sales activities and marketing investments. Net sales for geographic segments are generally based on the location of customers and sales through the Company’s retail stores located in those geographic locations. Operating income for each segment consists of net sales to third parties, related cost of sales, and operating expenses directly attributable to the segment. The information provided to the CODM for purposes of making decisions and assessing segment performance excludes asset information.
The following tables show information by reportable segment for 2025, 2024 and 2023 (in millions):
2025
AmericasEurope
Greater
China
JapanRest of
Asia Pacific		CorporateTotal
Net sales$178,353 $111,032 $64,377 $28,703 $33,696 $— $416,161 
Cost of sales(95,699)(58,617)(35,141)(13,779)(17,724)— (220,960)
Research and development— — — — — (34,550)(34,550)
Selling and marketing(10,174)(4,676)(2,319)(969)(1,386)— (19,524)
General and administrative— — — — — (8,077)(8,077)
Operating income/(loss)$72,480 $47,739 $26,917 $13,955 $14,586 $(42,627)$133,050 
2024
AmericasEurope
Greater
China
JapanRest of
Asia Pacific		CorporateTotal
Net sales$167,045 $101,328 $66,952 $25,052 $30,658 $— $391,035 
Cost of sales(89,587)(55,197)(37,519)(11,744)(16,305)— (210,352)
Research and development— — — — — (31,370)(31,370)
Selling and marketing(9,802)(4,341)(2,351)(854)(1,291)— (18,639)
General and administrative— — — — — (7,458)(7,458)
Operating income/(loss)$67,656 $41,790 $27,082 $12,454 $13,062 $(38,828)$123,216 
2023
AmericasEurope
Greater
China
JapanRest of
Asia Pacific		CorporateTotal
Net sales$162,560 $94,294 $72,559 $24,257 $29,615 $— $383,285 
Cost of sales(92,394)(54,101)(39,787)(11,542)(16,313)— (214,137)
Research and development— — — — — (29,915)(29,915)
Selling and marketing(9,658)(4,095)(2,444)(827)(1,236)— (18,260)
General and administrative— — — — — (6,672)(6,672)
Operating income/(loss)$60,508 $36,098 $30,328 $11,888 $12,066 $(36,587)$114,301 
The following tables show net sales for 2025, 2024 and 2023 and long-lived assets as of September 27, 2025 and September 28, 2024 for countries that individually accounted for 10% or more of the respective totals, as well as aggregate amounts for the remaining countries (in millions):
202520242023
Net sales:
U.S.$151,790 $142,196 $138,573 
China (1)
64,377 66,952 72,559 
Other countries199,994 181,887 172,153 
Total net sales$416,161 $391,035 $383,285 
20252024
Long-lived assets:
U.S.$40,274 $35,664 
China (1)
3,617 4,797 
Other countries5,943 5,219 
Total long-lived assets$49,834 $45,680 
(1)China includes Hong Kong and Taiwan.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 27, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
Insider Trading Policies and Procedures
 12 Months Ended
Sep. 27, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.3
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Sep. 27, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Company’s management, led by its Head of Corporate Information Security, has overall responsibility for identifying, assessing and managing any material risks from cybersecurity threats. The Company’s Head of Corporate Information Security leads a dedicated Information Security team of highly skilled individuals with experience across industries that, among other things, develops and distributes information security policies, standards and procedures; engages in employee cybersecurity training; implements security controls; assesses security risk and compliance posture; monitors and responds to security events; and executes security testing and assessments. The Company’s Head of Corporate Information Security has extensive knowledge and skills gained from over 25 years of experience in the cybersecurity industry, including serving in leadership positions at other large technology companies and leading the Company’s Information Security team since 2016.
The Company’s Information Security team coordinates with teams across the Company to prevent, respond to and manage security incidents, and engages third parties, as appropriate, to assess, test or otherwise assist with aspects of its security processes and incident response. A dedicated Supplier Trust team manages information security risks the Company is exposed to through its supplier relationships. The Company has processes to log, track, address, and escalate for further assessment and report, as appropriate, cybersecurity incidents across the Company and its suppliers to senior management and the Audit and Finance Committee (“Audit Committee”) of the Board. The Company’s enterprise risk management program is designed to identify, assess, and monitor the Company’s business risks, including financial, operational, compliance and reputational risks, and reflects management’s assessment of cybersecurity risks.
The Audit Committee assists the Board in the oversight and monitoring of cybersecurity matters. The Audit Committee regularly reviews and discusses the Company’s cybersecurity risks with management, including the Company’s Head of Corporate Information Security, its General Counsel and the Heads of Compliance and Business Conduct, Business Assurance, and Internal Audit, and receives updates, as necessary, regarding cybersecurity incidents. The Chair of the Audit Committee regularly reports the substance of such reviews and discussions to the Board, as necessary, and recommends to the Board such actions as the Audit Committee deems appropriate.
For a discussion of the Company’s cybersecurity-related risks, see Item 1A of this Form 10-K under the heading “Risk Factors.”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Company’s enterprise risk management program is designed to identify, assess, and monitor the Company’s business risks, including financial, operational, compliance and reputational risks, and reflects management’s assessment of cybersecurity risks.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Audit Committee assists the Board in the oversight and monitoring of cybersecurity matters. The Audit Committee regularly reviews and discusses the Company’s cybersecurity risks with management, including the Company’s Head of Corporate Information Security, its General Counsel and the Heads of Compliance and Business Conduct, Business Assurance, and Internal Audit, and receives updates, as necessary, regarding cybersecurity incidents. The Chair of the Audit Committee regularly reports the substance of such reviews and discussions to the Board, as necessary, and recommends to the Board such actions as the Audit Committee deems appropriate.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee assists the Board in the oversight and monitoring of cybersecurity matters.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee regularly reviews and discusses the Company’s cybersecurity risks with management, including the Company’s Head of Corporate Information Security, its General Counsel and the Heads of Compliance and Business Conduct, Business Assurance, and Internal Audit, and receives updates, as necessary, regarding cybersecurity incidents.
Cybersecurity Risk Role of Management [Text Block]
The Company’s management, led by its Head of Corporate Information Security, has overall responsibility for identifying, assessing and managing any material risks from cybersecurity threats. The Company’s Head of Corporate Information Security leads a dedicated Information Security team of highly skilled individuals with experience across industries that, among other things, develops and distributes information security policies, standards and procedures; engages in employee cybersecurity training; implements security controls; assesses security risk and compliance posture; monitors and responds to security events; and executes security testing and assessments. The Company’s Head of Corporate Information Security has extensive knowledge and skills gained from over 25 years of experience in the cybersecurity industry, including serving in leadership positions at other large technology companies and leading the Company’s Information Security team since 2016.
The Company’s Information Security team coordinates with teams across the Company to prevent, respond to and manage security incidents, and engages third parties, as appropriate, to assess, test or otherwise assist with aspects of its security processes and incident response. A dedicated Supplier Trust team manages information security risks the Company is exposed to through its supplier relationships. The Company has processes to log, track, address, and escalate for further assessment and report, as appropriate, cybersecurity incidents across the Company and its suppliers to senior management and the Audit and Finance Committee (“Audit Committee”) of the Board. The Company’s enterprise risk management program is designed to identify, assess, and monitor the Company’s business risks, including financial, operational, compliance and reputational risks, and reflects management’s assessment of cybersecurity risks.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Company’s management, led by its Head of Corporate Information Security, has overall responsibility for identifying, assessing and managing any material risks from cybersecurity threats. The Company’s Head of Corporate Information Security leads a dedicated Information Security team of highly skilled individuals with experience across industries that, among other things, develops and distributes information security policies, standards and procedures; engages in employee cybersecurity training; implements security controls; assesses security risk and compliance posture; monitors and responds to security events; and executes security testing and assessments.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The Company’s Head of Corporate Information Security leads a dedicated Information Security team of highly skilled individuals with experience across industriesThe Company’s Head of Corporate Information Security has extensive knowledge and skills gained from over 25 years of experience in the cybersecurity industry, including serving in leadership positions at other large technology companies and leading the Company’s Information Security team since 2016.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The Company’s Information Security team coordinates with teams across the Company to prevent, respond to and manage security incidents, and engages third parties, as appropriate, to assess, test or otherwise assist with aspects of its security processes and incident response. A dedicated Supplier Trust team manages information security risks the Company is exposed to through its supplier relationships. The Company has processes to log, track, address, and escalate for further assessment and report, as appropriate, cybersecurity incidents across the Company and its suppliers to senior management and the Audit and Finance Committee (“Audit Committee”) of the Board. The Company’s enterprise risk management program is designed to identify, assess, and monitor the Company’s business risks, including financial, operational, compliance and reputational risks, and reflects management’s assessment of cybersecurity risks.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.3
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Sep. 27, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Preparation
Basis of Presentation and Preparation
The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries. The preparation of these consolidated financial statements and accompanying notes in conformity with GAAP requires the use of management estimates. Certain prior period amounts in the notes to consolidated financial statements have been reclassified to conform to the current period’s presentation.
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, which occurred in the first fiscal quarter of 2023. The Company’s fiscal years 2025 and 2024 spanned 52 weeks each, whereas fiscal year 2023 spanned 53 weeks. 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.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements
Segment Reporting
Beginning with the 2025 annual reporting period, the Company adopted the FASB’s ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires the Company to disclose segment expenses that are significant and regularly provided to the Company’s chief operating decision maker (“CODM”). In addition, ASU 2023-07 requires the Company to disclose the title and position of its CODM and how the CODM uses segment profit or loss information in assessing segment performance and deciding how to allocate resources. The Company adopted ASU 2023-07 using a retrospective transition method.
Revenue
Revenue
The Company records revenue net of taxes collected from customers that are remitted to governmental authorities.
The Company recognizes revenue at the amount to which it expects to be entitled when control of products or services is transferred to its customers. Control is generally transferred when the Company has a present right to payment and title and the significant risks and rewards of ownership of products or services are transferred to its customers. For most of the Company’s Products net sales, control transfers when products are shipped. For the Company’s Services net sales, control transfers over time as services are delivered. Payment for Products and Services net sales is collected within a short period following transfer of control or commencement of delivery of services, as applicable.
The Company records reductions to Products net sales related to future product returns, price protection and other customer incentive programs based on the Company’s expectations and historical experience.
For arrangements with multiple performance obligations, which represent promises within an arrangement that are distinct, the Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices (“SSPs”). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company’s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company’s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the unique facts and circumstances related to each performance obligation including, where applicable, prices charged by the Company for similar offerings, market trends in the pricing for similar offerings, product-specific business objectives and the estimated cost to provide the performance obligation.
The Company has identified the performance obligations regularly included in arrangements involving the sale of iPhone, Mac and iPad. The first material performance obligation, which represents the substantial portion of the allocated sales price, is the hardware and bundled software delivered at the time of sale. The second material performance obligation is the right to receive certain product-related bundled services, which include iCloud®, Siri® and Maps. The Company allocates revenue and any related discounts to all of its performance obligations based on their relative SSPs. Because the Company lacks observable prices for product-related bundled services, the allocation of revenue is based on the Company’s estimated SSPs. Revenue allocated to the delivered hardware and bundled software is recognized when control has transferred to the customer, which generally occurs when the product is shipped. Revenue allocated to product-related bundled services is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided.
For certain long-term service arrangements, the Company has performance obligations for services it has not yet delivered. For these arrangements, the Company does not have a right to bill for the undelivered services. The Company has determined that any unbilled consideration relates entirely to the value of the undelivered services. Accordingly, the Company has not recognized revenue, and does not disclose amounts, related to these undelivered services.
For the sale of third-party products where the Company obtains control of the product before transferring it to the customer, the Company recognizes revenue based on the gross amount billed to customers. The Company considers multiple factors when determining whether it obtains control of third-party products, including evaluating if it can establish the price of the product, retains inventory risk for tangible products or has the responsibility for ensuring acceptability of the product. For third-party applications sold through the App Store, the Company does not obtain control of the product before transferring it to the customer. Therefore, the Company accounts for all third-party application–related sales on a net basis by recognizing in Services net sales only the commission it retains.
Share-Based Compensation
Share-Based Compensation
The Company recognizes share-based compensation expense on a straight-line basis for its estimate of equity awards that will ultimately vest.
The Company estimates the grant-date fair value of RSUs based on the closing price of the Company’s common stock on the date of grant.
Cash Equivalents
Cash Equivalents
All highly liquid investments with maturities of three months or less at the date of purchase are treated as cash equivalents.
Trade Receivables
Trade Receivables
Trade receivables are stated at transaction price.
Marketable Securities
Marketable Securities
The cost of securities sold is determined using the specific identification method.
The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale. The Company classifies marketable debt securities as either current or non-current based on each instrument’s underlying maturity.
Inventories
Inventories
Inventories are measured using the first-in, first-out method.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment are stated at cost. Depreciation on property, plant and equipment is recognized on a straight-line basis.
Derivative Instruments
Derivative Instruments
The Company presents derivative assets and liabilities at their gross fair values in the Consolidated Balance Sheets.
All derivative instruments are recorded in the Consolidated Balance Sheets at fair value. The accounting treatment for derivative gains and losses is based on intended use and hedge designation.
Gains and losses arising from amounts that are included in the assessment of cash flow hedge effectiveness are initially deferred in accumulated other comprehensive income/(loss) and subsequently reclassified into earnings when the hedged transaction affects earnings, and in the same line item in the Consolidated Statements of Operations. Gains and losses arising from amounts that are included in the assessment of fair value hedge effectiveness are recognized in the Consolidated Statements of Operations line item to which the hedge relates along with offsetting losses and gains related to the change in value of the hedged item.
For derivative instruments designated as cash flow and fair value hedges, amounts excluded from the assessment of hedge effectiveness are recognized on a straight-line basis over the life of the hedge in the Consolidated Statements of Operations line item to which the hedge relates. Changes in the fair value of amounts excluded from the assessment of hedge effectiveness are recognized in other comprehensive income/(loss).
Gains and losses arising from changes in the fair values of derivative instruments that are not designated as accounting hedges are recognized in the Consolidated Statements of Operations.
The Company classifies cash flows related to derivative instruments in the same section of the Consolidated Statements of Cash Flows as the items being hedged, which are generally classified as operating activities.
Income Taxes
Income Taxes
The Company records certain deferred tax assets and liabilities in connection with the minimum tax on certain foreign earnings created by the TCJA.
Leases
Leases
The Company combines and accounts for lease and nonlease components as a single lease component for leases of corporate and retail facilities.
The discount rates related to the Company’s lease liabilities are generally based on estimates of the Company’s incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined.
Fair Value Measurements The valuation techniques used to measure the fair values of the Company’s Level 2 financial instruments, which generally have counterparties with high credit ratings, are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data.
Segment Reporting
The Company manages its business primarily on a geographic basis. The Company’s CEO is its CODM.
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. Rest of Asia Pacific includes Australia, New Zealand and those Asian countries not included in the Company’s other reportable segments. Although the reportable segments provide similar hardware and software products and similar services, each one is managed separately to better align with the location of the Company’s customers and distribution partners and the unique market dynamics of each geographic region.
The CODM uses segment net sales and operating income information to make certain decisions, such as product and service pricing, and to decide how to allocate resources related to sales activities and marketing investments. Net sales for geographic segments are generally based on the location of customers and sales through the Company’s retail stores located in those geographic locations. Operating income for each segment consists of net sales to third parties, related cost of sales, and operating expenses directly attributable to the segment. The information provided to the CODM for purposes of making decisions and assessing segment performance excludes asset information.
v3.25.3
Revenue (Tables)
 12 Months Ended
Sep. 27, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregated Net Sales and Portion of Net Sales That Was Previously Deferred
The following table shows disaggregated net sales, as well as the portion of total net sales that was previously deferred, for 2025, 2024 and 2023 (in millions):
202520242023
iPhone
$209,586 $201,183 $200,583 
Mac
33,708 29,984 29,357 
iPad
28,023 26,694 28,300 
Wearables, Home and Accessories
35,686 37,005 39,845 
Services (1)
109,158 96,169 85,200 
Total net sales$416,161 $391,035 $383,285 
Portion of total net sales that was included in deferred revenue as of the beginning of the period$8,229 $7,728 $8,169 
(1)Services net sales include amortization of the deferred value of services bundled in the sales price of certain products.
v3.25.3
Earnings Per Share (Tables)
 12 Months Ended
Sep. 27, 2025
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share
The following table shows the computation of basic and diluted earnings per share for 2025, 2024 and 2023 (net income in millions and shares in thousands):
202520242023
Numerator:
Net income$112,010 $93,736 $96,995 
Denominator:
Weighted-average basic shares outstanding14,948,500 15,343,783 15,744,231 
Effect of dilutive share-based awards56,197 64,312 68,316 
Weighted-average diluted shares15,004,697 15,408,095 15,812,547 
Basic earnings per share$7.49 $6.11 $6.16 
Diluted earnings per share$7.46 $6.08 $6.13 
v3.25.3
Financial Instruments (Tables)
 12 Months Ended
Sep. 27, 2025
Financial Instruments [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 September 27, 2025 and September 28, 2024 (in millions):
2025
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash$28,267 $— $— $28,267 $28,267 $— $— 
Level 1:
Money market funds5,272 — — 5,272 5,272 — — 
Mutual funds
679 177 (2)854 — 854 — 
Subtotal5,951 177 (2)6,126 5,272 854 — 
Level 2 (1):
U.S. Treasury securities16,074 56 (282)15,848 1,190 3,712 10,946 
U.S. agency securities5,269 — (149)5,120 251 2,456 2,413 
Non-U.S. government securities6,586 111 (424)6,273 — 855 5,418 
Certificates of deposit and time deposits917 — — 917 904 — 13 
Commercial paper100 — — 100 50 50 — 
Corporate debt securities47,210 266 (916)46,560 — 10,623 35,937 
Municipal securities207 — (2)205 — 119 86 
Mortgage- and asset-backed securities24,130 126 (1,252)23,004 — 94 22,910 
Subtotal100,493 559 (3,025)98,027 2,395 17,909 77,723 
Total
$134,711 $736 $(3,027)$132,420 $35,934 $18,763 $77,723 
2024
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash$27,199 $— $— $27,199 $27,199 $— $— 
Level 1:
Money market funds778 — — 778 778 — — 
Mutual funds
515 105 (3)617 — 617 — 
Subtotal1,293 105 (3)1,395 778 617 — 
Level 2 (1):
U.S. Treasury securities16,150 45 (516)15,679 212 4,087 11,380 
U.S. agency securities5,431 — (272)5,159 155 703 4,301 
Non-U.S. government securities17,959 93 (484)17,568 1,158 10,810 5,600 
Certificates of deposit and time deposits873 — — 873 387 478 8 
Commercial paper1,066 — — 1,066 28 1,038 — 
Corporate debt securities65,622 270 (1,953)63,939 26 16,027 47,886 
Municipal securities412 — (7)405 — 190 215 
Mortgage- and asset-backed securities24,595 175 (1,403)23,367 — 1,278 22,089 
Subtotal132,108 583 (4,635)128,056 1,966 34,611 91,479 
Total (2)(3)
$160,600 $688 $(4,638)$156,650 $29,943 $35,228 $91,479 
(1)The valuation techniques used to measure the fair values of the Company’s Level 2 financial instruments, which generally have counterparties with high credit ratings, are based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data.
(2)As of September 28, 2024, cash and cash equivalents included $2.6 billion held in escrow and restricted from general use. These restricted cash and cash equivalents were designated to settle the Company’s obligation related to the State Aid Decision (refer to Note 7, “Income Taxes”).
(3)As of September 28, 2024, current marketable securities included $13.2 billion held in escrow and restricted from general use. These restricted marketable securities were designated to settle the Company’s obligation related to the State Aid Decision (refer to Note 7, “Income Taxes”).
Notional Amounts of Outstanding Derivative Instruments
The notional amounts of the Company’s outstanding derivative instruments as of September 27, 2025 and September 28, 2024, were as follows (in millions):
20252024
Derivative instruments designated as accounting hedges:
Foreign exchange contracts$62,647 $64,069 
Interest rate contracts$12,875 $14,575 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts$109,079 $91,493 
v3.25.3
Property, Plant and Equipment (Tables)
 12 Months Ended
Sep. 27, 2025
Property, Plant and Equipment [Abstract]  
Gross Property, Plant and Equipment by Major Asset Class and Accumulated Depreciation
The following table shows the Company’s gross property, plant and equipment by major asset class and accumulated depreciation as of September 27, 2025 and September 28, 2024 (in millions):
20252024
Land and buildings$27,337 $24,690 
Machinery, equipment and internal-use software
83,420 80,205 
Leasehold improvements15,091 14,233 
Gross property, plant and equipment125,848 119,128 
Accumulated depreciation
(76,014)(73,448)
Total property, plant and equipment, net$49,834 $45,680 
v3.25.3
Consolidated Financial Statement Details (Tables)
 12 Months Ended
Sep. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Non-Current Assets
Other Non-Current Assets
20252024
Deferred tax assets$20,777 $19,499 
Other non-current assets62,950 55,335 
Total other non-current assets$83,727 $74,834 
Other Current Liabilities
Other Current Liabilities
20252024
Income taxes payable$13,016 $26,601 
Accrued distribution and marketing
8,919 7,679 
Other current liabilities44,452 44,024 
Total other current liabilities$66,387 $78,304 
v3.25.3
Income Taxes (Tables)
 12 Months Ended
Sep. 27, 2025
Income Tax Disclosure [Abstract]  
Provision for Income Taxes
The provision for income taxes for 2025, 2024 and 2023, consisted of the following (in millions):
202520242023
Federal:
Current$11,487 $5,571 $9,445 
Deferred(1,804)(3,080)(3,644)
Total9,683 2,491 5,801 
State:
Current1,680 1,726 1,570 
Deferred(139)(298)(49)
Total1,541 1,428 1,521 
Foreign:
Current8,891 25,483 8,750 
Deferred604 347 669 
Total9,495 25,830 9,419 
Provision for income taxes$20,719 $29,749 $16,741 
Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Provision for Income Taxes
A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate (21% in 2025, 2024 and 2023) to income before provision for income taxes for 2025, 2024 and 2023 is as follows (dollars in millions):
202520242023
Computed expected tax$27,873 $25,932 $23,885 
Earnings of foreign subsidiaries(8,120)(5,311)(5,744)
Change in valuation allowance
2,091 — — 
Research and development credit, net(1,049)(1,397)(1,212)
Impact of the State Aid Decision
(486)10,246 — 
Other410 279 (188)
Provision for income taxes$20,719 $29,749 $16,741 
Effective tax rate15.6%24.1%14.7%
Significant Components of Deferred Tax Assets and Liabilities
As of September 27, 2025 and September 28, 2024, the significant components of the Company’s deferred tax assets and liabilities were as follows (in millions):
20252024
Deferred tax assets:
Capitalized research and development$15,041 $10,739 
Tax credit carryforwards8,643 8,856 
Accrued liabilities and other reserves6,154 6,114 
Deferred revenue2,953 3,413 
Lease liabilities2,577 2,410 
Other3,049 3,341 
Total deferred tax assets38,417 34,873 
Less: Valuation allowance(10,966)(8,866)
Total deferred tax assets, net27,451 26,007 
Deferred tax liabilities:
Depreciation3,276 2,551 
Right-of-use assets2,300 2,125 
Minimum tax on foreign earnings1,217 1,674 
Other678 455 
Total deferred tax liabilities7,471 6,805 
Net deferred tax assets$19,980 $19,202 
Aggregate Changes in Gross Unrecognized Tax Benefits
The aggregate change in the balance of gross unrecognized tax benefits, which excludes interest and penalties, for 2025, 2024 and 2023 is as follows (in millions):
202520242023
Beginning balances$22,038 $19,454 $16,758 
Increases related to tax positions taken during a prior year1,971 1,727 2,044 
Decreases related to tax positions taken during a prior year(71)(386)(1,463)
Increases related to tax positions taken during the current year3,795 2,542 2,628 
Decreases related to settlements with taxing authorities(2,939)(1,070)(19)
Decreases related to expiration of the statute of limitations(1,552)(229)(494)
Ending balances$23,242 $22,038 $19,454 
v3.25.3
Leases (Tables)
 12 Months Ended
Sep. 27, 2025
Leases [Abstract]  
ROU Assets and Lease Liabilities
The following table shows ROU assets and lease liabilities, and the associated financial statement line items, as of September 27, 2025 and September 28, 2024 (in millions):
Lease-Related Assets and LiabilitiesFinancial Statement Line Items20252024
Right-of-use assets:
Operating leasesOther non-current assets$11,205 $10,234 
Finance leasesProperty, plant and equipment, net1,033 1,069 
Total right-of-use assets$12,238 $11,303 
Lease liabilities:
Operating leasesOther current liabilities$1,579 $1,488 
Other non-current liabilities10,911 10,046 
Finance leasesOther current liabilities538 144 
Other non-current liabilities692 752 
Total lease liabilities$13,720 $12,430 
Lease Liability Maturities
Lease liability maturities as of September 27, 2025, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2026$1,967 $563 $2,530 
20271,988 73 2,061 
20281,848 51 1,899 
20291,585 48 1,633 
20301,381 43 1,424 
Thereafter5,956 801 6,757 
Total undiscounted liabilities14,725 1,579 16,304 
Less: Imputed interest(2,235)(349)(2,584)
Total lease liabilities$12,490 $1,230 $13,720 
Lease Liability Maturities
Lease liability maturities as of September 27, 2025, are as follows (in millions):
Operating
Leases		Finance
Leases		Total
2026$1,967 $563 $2,530 
20271,988 73 2,061 
20281,848 51 1,899 
20291,585 48 1,633 
20301,381 43 1,424 
Thereafter5,956 801 6,757 
Total undiscounted liabilities14,725 1,579 16,304 
Less: Imputed interest(2,235)(349)(2,584)
Total lease liabilities$12,490 $1,230 $13,720 
v3.25.3
Debt (Tables)
 12 Months Ended
Sep. 27, 2025
Debt Disclosure [Abstract]  
Summary of Cash Flows Associated with Commercial Paper The following table provides a summary of cash flows associated with commercial paper for 2025, 2024 and 2023 (in millions):
202520242023
Maturities 90 days or less:
Proceeds from/(Repayments of) commercial paper, net$(5,820)$3,960 $(1,333)
Maturities greater than 90 days:
Proceeds from commercial paper5,836 — — 
Repayments of commercial paper(2,048)— (2,645)
Proceeds from/(Repayments of) commercial paper, net3,788 — (2,645)
Total proceeds from/(repayments of) commercial paper, net$(2,032)$3,960 $(3,978)
Summary of Term Debt The following table provides a summary of the Company’s term debt as of September 27, 2025 and September 28, 2024:
Maturities
(calendar year)
20252024
Amount
(in millions)
Effective
Interest Rate
Amount
(in millions)
Effective
Interest Rate
2013 – 2023 debt issuances:
Fixed-rate 0.000% – 4.850% notes
2025 – 2062
$86,781 
0.03% – 5.75%
$97,341 
0.03% – 6.65%
2025 debt issuance:
Fixed-rate 4.000% – 4.750% notes
2028 – 2035
4,500 
4.07% – 4.83%
— 
Total term debt principal
91,281 97,341 
Unamortized premium/(discount) and issuance costs, net(309)(321)
Hedge accounting fair value adjustments(294)(358)
Total term debt
90,678 96,662 
Less: Current portion of term debt(12,350)(10,912)
Total non-current portion of term debt$78,328 $85,750 
Future Principal Payments for Notes
The future principal payments for the Company’s Notes as of September 27, 2025, are as follows (in millions):
2026$12,393 
202710,078 
20289,300 
20295,235 
20304,972 
Thereafter49,303 
Total term debt principal$91,281 
v3.25.3
Shareholders' Equity (Tables)
 12 Months Ended
Sep. 27, 2025
Equity [Abstract]  
Changes in Shares of Common Stock
The following table shows the changes in shares of common stock for 2025, 2024 and 2023 (in thousands):
202520242023
Common stock outstanding, beginning balances15,116,786 15,550,061 15,943,425 
Common stock repurchased(401,672)(499,372)(471,419)
Common stock issued, net of shares withheld for employee taxes58,146 66,097 78,055 
Common stock outstanding, ending balances14,773,260 15,116,786 15,550,061 
v3.25.3
Share-Based Compensation (Tables)
 12 Months Ended
Sep. 27, 2025
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Unit Activity
A summary of the Company’s RSU activity and related information for 2025 is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant-Date Fair
Value Per RSU
Balance as of September 28, 2024163,326 $158.73 
RSUs granted73,466 $226.68 
RSUs vested(76,845)$159.85 
RSUs forfeited
(8,373)$183.03 
Balance as of September 27, 2025151,574 $189.75 
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 Consolidated Statements of Operations for 2025, 2024 and 2023 (in millions):
202520242023
Share-based compensation expense$12,863 $11,688 $10,833 
Income tax benefit related to share-based compensation expense$(3,602)$(3,350)$(3,421)
v3.25.3
Commitments, Contingencies and Supply Concentrations (Tables)
 12 Months Ended
Sep. 27, 2025
Commitments and Contingencies Disclosure [Abstract]  
Future Payments Under Unconditional Purchase Obligations Future payments under unconditional purchase obligations with a remaining term in excess of one year as of September 27, 2025, are as follows (in millions):
2026$4,752 
20273,708 
20281,981 
20291,306 
2030788 
Thereafter773 
Total$13,308 
v3.25.3
Segment Information and Geographic Data (Tables)
 12 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
Information by Reportable Segment
The following tables show information by reportable segment for 2025, 2024 and 2023 (in millions):
2025
AmericasEurope
Greater
China
JapanRest of
Asia Pacific		CorporateTotal
Net sales$178,353 $111,032 $64,377 $28,703 $33,696 $— $416,161 
Cost of sales(95,699)(58,617)(35,141)(13,779)(17,724)— (220,960)
Research and development— — — — — (34,550)(34,550)
Selling and marketing(10,174)(4,676)(2,319)(969)(1,386)— (19,524)
General and administrative— — — — — (8,077)(8,077)
Operating income/(loss)$72,480 $47,739 $26,917 $13,955 $14,586 $(42,627)$133,050 
2024
AmericasEurope
Greater
China
JapanRest of
Asia Pacific		CorporateTotal
Net sales$167,045 $101,328 $66,952 $25,052 $30,658 $— $391,035 
Cost of sales(89,587)(55,197)(37,519)(11,744)(16,305)— (210,352)
Research and development— — — — — (31,370)(31,370)
Selling and marketing(9,802)(4,341)(2,351)(854)(1,291)— (18,639)
General and administrative— — — — — (7,458)(7,458)
Operating income/(loss)$67,656 $41,790 $27,082 $12,454 $13,062 $(38,828)$123,216 
2023
AmericasEurope
Greater
China
JapanRest of
Asia Pacific		CorporateTotal
Net sales$162,560 $94,294 $72,559 $24,257 $29,615 $— $383,285 
Cost of sales(92,394)(54,101)(39,787)(11,542)(16,313)— (214,137)
Research and development— — — — — (29,915)(29,915)
Selling and marketing(9,658)(4,095)(2,444)(827)(1,236)— (18,260)
General and administrative— — — — — (6,672)(6,672)
Operating income/(loss)$60,508 $36,098 $30,328 $11,888 $12,066 $(36,587)$114,301 
Net Sales and Long-Lived Assets for Countries that Individually Accounted for 10% or More of the Respective Totals
The following tables show net sales for 2025, 2024 and 2023 and long-lived assets as of September 27, 2025 and September 28, 2024 for countries that individually accounted for 10% or more of the respective totals, as well as aggregate amounts for the remaining countries (in millions):
202520242023
Net sales:
U.S.$151,790 $142,196 $138,573 
China (1)
64,377 66,952 72,559 
Other countries199,994 181,887 172,153 
Total net sales$416,161 $391,035 $383,285 
20252024
Long-lived assets:
U.S.$40,274 $35,664 
China (1)
3,617 4,797 
Other countries5,943 5,219 
Total long-lived assets$49,834 $45,680 
(1)China includes Hong Kong and Taiwan.
v3.25.3
Revenue - Disaggregated Net Sales and Portion of Net Sales That Was Previously Deferred (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]      
Net sales $ 416,161 $ 391,035 $ 383,285
Portion of total net sales that was included in deferred revenue as of the beginning of the period 8,229 7,728 8,169
iPhone      
Disaggregation of Revenue [Line Items]      
Net sales 209,586 201,183 200,583
Mac      
Disaggregation of Revenue [Line Items]      
Net sales 33,708 29,984 29,357
iPad      
Disaggregation of Revenue [Line Items]      
Net sales 28,023 26,694 28,300
Wearables, Home and Accessories      
Disaggregation of Revenue [Line Items]      
Net sales 35,686 37,005 39,845
Services      
Disaggregation of Revenue [Line Items]      
Net sales $ 109,158 $ 96,169 $ 85,200
v3.25.3
Revenue - Additional Information (Details) - USD ($)
$ in Billions
Sep. 27, 2025
Sep. 28, 2024
Revenue from Contract with Customer [Abstract]    
Total deferred revenue $ 13.7 $ 12.8
v3.25.3
Revenue - Deferred Revenue, Expected Timing of Realization (Details)
Sep. 27, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-09-28  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 66.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-09-27  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 23.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-09-26  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 9.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-10-01  
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 1 year
v3.25.3
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Numerator:      
Net income $ 112,010 $ 93,736 $ 96,995
Denominator:      
Weighted-average basic shares outstanding (in shares) 14,948,500 15,343,783 15,744,231
Effect of dilutive share-based awards (in shares) 56,197 64,312 68,316
Weighted-average diluted shares (in shares) 15,004,697 15,408,095 15,812,547
Basic earnings per share (in dollars per share) $ 7.49 $ 6.11 $ 6.16
Diluted earnings per share (in dollars per share) $ 7.46 $ 6.08 $ 6.13
v3.25.3
Earnings Per Share - Additional Information (Details)
shares in Millions
 12 Months Ended
Sep. 30, 2023
shares
Restricted stock units  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Restricted stock units excluded from the computation of diluted earnings per share because their effect would have been antidilutive (in shares) 24
v3.25.3
Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Marketable Securities [Line Items]    
Cash, Cash Equivalents and Marketable Securities, Adjusted Cost $ 134,711 $ 160,600
Cash Equivalents and Marketable Securities, Unrealized Gains 736 688
Cash Equivalents and Marketable Securities, Unrealized Loss (3,027) (4,638)
Cash, Cash Equivalents and Marketable Securities, Fair Value 132,420 156,650
Cash and Cash Equivalents 35,934 29,943
Current Marketable Securities 18,763 35,228
Non-Current Marketable Securities 77,723 91,479
Unfavorable investigation outcome, EU State Aid rules    
Marketable Securities [Line Items]    
Cash and cash equivalents held in escrow and restricted from general use   2,600
Current marketable securities held in escrow and restricted from general use   13,200
Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost 5,951 1,293
Marketable Securities, Equity, Unrealized Gains 177 105
Marketable Securities, Equity, Unrealized Losses (2) (3)
Marketable Securities, Equity, Fair Value 6,126 1,395
Cash and Cash Equivalents 5,272 778
Current Marketable Securities 854 617
Non-Current Marketable Securities 0 0
Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 100,493 132,108
Marketable Securities, Debt, Unrealized Gains 559 583
Marketable Securities, Debt, Unrealized Losses (3,025) (4,635)
Marketable Securities, Debt, Fair Value 98,027 128,056
Cash and Cash Equivalents 2,395 1,966
Current Marketable Securities 17,909 34,611
Non-Current Marketable Securities 77,723 91,479
Cash    
Marketable Securities [Line Items]    
Cash 28,267 27,199
Cash and Cash Equivalents 28,267 27,199
Money market funds | Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost 5,272 778
Marketable Securities, Equity, Unrealized Gains 0 0
Marketable Securities, Equity, Unrealized Losses 0 0
Marketable Securities, Equity, Fair Value 5,272 778
Cash and Cash Equivalents 5,272 778
Current Marketable Securities 0 0
Non-Current Marketable Securities 0 0
Mutual funds | Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost 679 515
Marketable Securities, Equity, Unrealized Gains 177 105
Marketable Securities, Equity, Unrealized Losses (2) (3)
Marketable Securities, Equity, Fair Value 854 617
Cash and Cash Equivalents 0 0
Current Marketable Securities 854 617
Non-Current Marketable Securities 0 0
U.S. Treasury securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 16,074 16,150
Marketable Securities, Debt, Unrealized Gains 56 45
Marketable Securities, Debt, Unrealized Losses (282) (516)
Marketable Securities, Debt, Fair Value 15,848 15,679
Cash and Cash Equivalents 1,190 212
Current Marketable Securities 3,712 4,087
Non-Current Marketable Securities 10,946 11,380
U.S. agency securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 5,269 5,431
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses (149) (272)
Marketable Securities, Debt, Fair Value 5,120 5,159
Cash and Cash Equivalents 251 155
Current Marketable Securities 2,456 703
Non-Current Marketable Securities 2,413 4,301
Non-U.S. government securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 6,586 17,959
Marketable Securities, Debt, Unrealized Gains 111 93
Marketable Securities, Debt, Unrealized Losses (424) (484)
Marketable Securities, Debt, Fair Value 6,273 17,568
Cash and Cash Equivalents 0 1,158
Current Marketable Securities 855 10,810
Non-Current Marketable Securities 5,418 5,600
Certificates of deposit and time deposits | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 917 873
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 917 873
Cash and Cash Equivalents 904 387
Current Marketable Securities 0 478
Non-Current Marketable Securities 13 8
Commercial paper | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 100 1,066
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 100 1,066
Cash and Cash Equivalents 50 28
Current Marketable Securities 50 1,038
Non-Current Marketable Securities 0 0
Corporate debt securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 47,210 65,622
Marketable Securities, Debt, Unrealized Gains 266 270
Marketable Securities, Debt, Unrealized Losses (916) (1,953)
Marketable Securities, Debt, Fair Value 46,560 63,939
Cash and Cash Equivalents 0 26
Current Marketable Securities 10,623 16,027
Non-Current Marketable Securities 35,937 47,886
Municipal securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 207 412
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses (2) (7)
Marketable Securities, Debt, Fair Value 205 405
Cash and Cash Equivalents 0 0
Current Marketable Securities 119 190
Non-Current Marketable Securities 86 215
Mortgage- and asset-backed securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 24,130 24,595
Marketable Securities, Debt, Unrealized Gains 126 175
Marketable Securities, Debt, Unrealized Losses (1,252) (1,403)
Marketable Securities, Debt, Fair Value 23,004 23,367
Cash and Cash Equivalents 0 0
Current Marketable Securities 94 1,278
Non-Current Marketable Securities $ 22,910 $ 22,089
v3.25.3
Financial Instruments - Additional Information (Details)
$ in Billions
 12 Months Ended
Sep. 27, 2025
USD ($)
Vendor
Customer
Sep. 28, 2024
USD ($)
Vendor
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Carrying amount of hedged term debt | $ $ 12.6 $ 13.5
Hedged liability, statement of financial position [Extensible Enumeration] Term debt Term debt
Trade receivables | Credit concentration risk    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Number Of Customers With Significant Accounts Receivable Balance | Customer 1  
Trade receivables | Credit concentration risk | Customer One    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Concentration risk, percentage 12.00%  
Trade receivables | Credit concentration risk | Cellular network carriers    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Concentration risk, percentage 34.00% 38.00%
Non-trade receivables | Credit concentration risk    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Number of vendors that individually represented 10% or more of total vendor non-trade receivables | Vendor 2 2
Non-trade receivables | Credit concentration risk | Vendor one    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Concentration risk, percentage 46.00% 44.00%
Non-trade receivables | Credit concentration risk | Vendor two    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Concentration risk, percentage 23.00% 23.00%
Hedges of foreign currency exposure associated with revenue and inventory purchases    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for foreign currency transactions 12 months  
Hedges of foreign currency exposure associated with term debt    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for foreign currency transactions 17 years  
Marketable debt securities other than mortgage- and asset-backed securities    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Between 1 and 5 years 80.00%  
Between 5 and 10 years 15.00%  
Greater than 10 years 5.00%  
Mortgage- and asset-backed securities    
Debt Securities, Available-for-Sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Between 1 and 5 years 13.00%  
Between 5 and 10 years 14.00%  
Greater than 10 years 73.00%  
v3.25.3
Financial Instruments - Notional Amounts Associated with Derivative Instruments (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Derivatives designated as accounting hedges | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivatives, notional amount $ 62,647 $ 64,069
Derivatives designated as accounting hedges | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivatives, notional amount 12,875 14,575
Derivatives not designated as accounting hedges | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivatives, notional amount $ 109,079 $ 91,493
v3.25.3
Property, Plant and Equipment - Gross Property, Plant and Equipment by Major Asset Class and Accumulated Depreciation (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 125,848 $ 119,128
Accumulated depreciation (76,014) (73,448)
Total property, plant and equipment, net 49,834 45,680
Land and buildings    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 27,337 24,690
Machinery, equipment and internal-use software    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment 83,420 80,205
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Gross property, plant and equipment $ 15,091 $ 14,233
v3.25.3
Property, Plant, and Equipment - Additional Information (Details) - USD ($)
$ in Billions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Property, Plant and Equipment [Abstract]      
Depreciation expense on property, plant and equipment $ 8.0 $ 8.2 $ 8.5
v3.25.3
Consolidated Financial Statement Details - Other Non-Current Assets (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Deferred tax assets $ 20,777 $ 19,499
Other non-current assets 62,950 55,335
Total other non-current assets $ 83,727 $ 74,834
v3.25.3
Consolidated Financial Statement Details - Other Current Liabilities (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Income taxes payable $ 13,016 $ 26,601
Accrued distribution and marketing 8,919 7,679
Other current liabilities 44,452 44,024
Total other current liabilities $ 66,387 $ 78,304
v3.25.3
Income Taxes - Additional Information (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Aug. 30, 2016
Subsidiary
Sep. 28, 2024
USD ($)
Sep. 27, 2025
USD ($)
Sep. 28, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 24, 2022
USD ($)
Income Tax Contingency [Line Items]            
One-time income tax charge, net, State Aid Decision, portion payable to Ireland     $ 8,891 $ 25,483 $ 8,750  
One-time income tax charge, net, State Aid Decision, U.S. foreign tax credit     (11,487) (5,571) (9,445)  
Decrease in unrecognized tax benefits, State Aid Decision     2,939 1,070 19  
Foreign pre-tax earnings     $ 82,000 $ 77,300 $ 72,900  
U.S. statutory federal income tax rate     21.00% 21.00% 21.00%  
Foreign tax credit carryforwards     $ 4,700      
Research and development tax credit carryforwards     4,000      
Gross unrecognized tax benefits   $ 22,038 23,242 $ 22,038 $ 19,454 $ 16,758
Gross unrecognized tax benefits that would impact effective tax rate, if recognized   10,800 10,600 $ 10,800    
Reasonably possible decrease in gross unrecognized tax benefits over next 12 months     $ 6,000      
Unfavorable investigation outcome, EU State Aid rules            
Income Tax Contingency [Line Items]            
Number of subsidiaries impacted by the European Commission tax ruling | Subsidiary 2          
One-time income tax charge, net, State Aid Decision   10,200        
One-time income tax charge, net, State Aid Decision, portion payable to Ireland   15,800        
One-time income tax charge, net, State Aid Decision, U.S. foreign tax credit   4,800        
Decrease in unrecognized tax benefits, State Aid Decision   $ 823        
v3.25.3
Income Taxes - Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Federal:      
Current $ 11,487 $ 5,571 $ 9,445
Deferred (1,804) (3,080) (3,644)
Total 9,683 2,491 5,801
State:      
Current 1,680 1,726 1,570
Deferred (139) (298) (49)
Total 1,541 1,428 1,521
Foreign:      
Current 8,891 25,483 8,750
Deferred 604 347 669
Total 9,495 25,830 9,419
Provision for income taxes $ 20,719 $ 29,749 $ 16,741
v3.25.3
Income Taxes - Reconciliation of Provision for Income Taxes to Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Income Tax Disclosure [Abstract]      
Computed expected tax $ 27,873 $ 25,932 $ 23,885
Earnings of foreign subsidiaries (8,120) (5,311) (5,744)
Change in valuation allowance 2,091 0 0
Research and development credit, net (1,049) (1,397) (1,212)
Impact of the State Aid Decision (486) 10,246 0
Other 410 279 (188)
Provision for income taxes $ 20,719 $ 29,749 $ 16,741
Effective tax rate 15.60% 24.10% 14.70%
v3.25.3
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Deferred tax assets:    
Capitalized research and development $ 15,041 $ 10,739
Tax credit carryforwards 8,643 8,856
Accrued liabilities and other reserves 6,154 6,114
Deferred revenue 2,953 3,413
Lease liabilities 2,577 2,410
Other 3,049 3,341
Total deferred tax assets 38,417 34,873
Less: Valuation allowance (10,966) (8,866)
Total deferred tax assets, net 27,451 26,007
Deferred tax liabilities:    
Depreciation 3,276 2,551
Right-of-use assets 2,300 2,125
Minimum tax on foreign earnings 1,217 1,674
Other 678 455
Total deferred tax liabilities 7,471 6,805
Net deferred tax assets $ 19,980 $ 19,202
v3.25.3
Income Taxes - Aggregate Changes in Gross Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balances $ 22,038 $ 19,454 $ 16,758
Increases related to tax positions taken during a prior year 1,971 1,727 2,044
Decreases related to tax positions taken during a prior year (71) (386) (1,463)
Increases related to tax positions taken during the current year 3,795 2,542 2,628
Decreases related to settlements with taxing authorities (2,939) (1,070) (19)
Decreases related to expiration of the statute of limitations (1,552) (229) (494)
Ending balances $ 23,242 $ 22,038 $ 19,454
v3.25.3
Leases - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Lessee, Lease, Description [Line Items]      
Typical term of leases (not exceeding) 10 years    
Fixed operating lease costs $ 2,100 $ 2,000 $ 2,000
Variable lease costs 16,100 13,800 13,900
Fixed operating lease payments 2,100 1,900 1,900
Right-of-use assets obtained in exchange for operating and finance lease liabilities $ 2,800 $ 1,000 $ 2,100
Weighted-average remaining lease term 9 years 9 months 18 days 10 years 3 months 18 days  
Weighted-average discount rate 3.40% 3.10%  
Leases not yet commenced, fixed payment obligations $ 13,308    
Operating lease, lease not yet commenced      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, fixed payment obligations $ 523    
Minimum      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, lease term 1 year    
Maximum      
Lessee, Lease, Description [Line Items]      
Leases not yet commenced, lease term 21 years    
v3.25.3
Leases - ROU Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Lease-Related Assets and Liabilities    
Operating lease right-of-use assets $ 11,205 $ 10,234
Operating lease, right-of-use asset, statement of financial position [Extensible Enumeration] Other non-current assets Other non-current assets
Finance lease right-of-use assets $ 1,033 $ 1,069
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration] Property, plant and equipment, net Property, plant and equipment, net
Total right-of-use assets $ 12,238 $ 11,303
Operating lease liabilities, current $ 1,579 $ 1,488
Operating lease, liability, current, statement of financial position [Extensible Enumeration] Other current liabilities Other current liabilities
Operating lease liabilities, non-current $ 10,911 $ 10,046
Operating lease, liability, noncurrent, statement of financial position [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Finance lease liabilities, current $ 538 $ 144
Finance lease, liability, current, statement of financial position [Extensible Enumeration] Other current liabilities Other current liabilities
Finance lease liabilities, non-current $ 692 $ 752
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration] Other non-current liabilities Other non-current liabilities
Total lease liabilities $ 13,720 $ 12,430
v3.25.3
Leases - Lease Liability Maturities (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Operating Leases    
2026 $ 1,967  
2027 1,988  
2028 1,848  
2029 1,585  
2030 1,381  
Thereafter 5,956  
Total undiscounted liabilities 14,725  
Less: Imputed interest (2,235)  
Total lease liabilities 12,490  
Finance Leases    
2026 563  
2027 73  
2028 51  
2029 48  
2030 43  
Thereafter 801  
Total undiscounted liabilities 1,579  
Less: Imputed interest (349)  
Total lease liabilities 1,230  
Total    
2026 2,530  
2027 2,061  
2028 1,899  
2029 1,633  
2030 1,424  
Thereafter 6,757  
Total undiscounted liabilities 16,304  
Less: Imputed interest (2,584)  
Total lease liabilities $ 13,720 $ 12,430
v3.25.3
Debt - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Debt Instrument [Line Items]    
Commercial paper $ 7,979 $ 9,967
Level 2    
Debt Instrument [Line Items]    
Fixed-rate notes, aggregate fair value 80,400 88,400
Commercial paper    
Debt Instrument [Line Items]    
Commercial paper $ 8,000 $ 10,000
Commercial paper, general maturity period (less than) 9 months 9 months
Commercial paper, weighted-average interest rate 4.19% 5.00%
v3.25.3
Debt - Summary of Cash Flows Associated with Commercial Paper (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Maturities 90 days or less:      
Proceeds from/(Repayments of) commercial paper, net $ (5,820) $ 3,960 $ (1,333)
Maturities greater than 90 days:      
Proceeds from commercial paper 5,836 0 0
Repayments of commercial paper (2,048) 0 (2,645)
Proceeds from/(Repayments of) commercial paper, net 3,788 0 (2,645)
Total proceeds from/(repayments of) commercial paper, net $ (2,032) $ 3,960 $ (3,978)
v3.25.3
Debt - Summary of Term Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Debt Instrument [Line Items]    
Total term debt principal $ 91,281 $ 97,341
Unamortized premium/(discount) and issuance costs, net (309) (321)
Hedge accounting fair value adjustments (294) (358)
Total term debt 90,678 96,662
Less: Current portion of term debt (12,350) (10,912)
Total non-current portion of term debt 78,328 85,750
2013 – 2023 debt issuances | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt principal $ 86,781 $ 97,341
Debt instrument, maturity year (calendar), start 2025  
Debt instrument, maturity year (calendar), end 2062  
2013 – 2023 debt issuances | Fixed-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 0.00%  
Debt instrument, effective interest rate 0.03% 0.03%
2013 – 2023 debt issuances | Fixed-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 4.85%  
Debt instrument, effective interest rate 5.75% 6.65%
2025 debt issuance | Fixed-rate notes    
Debt Instrument [Line Items]    
Total term debt principal $ 4,500  
Debt instrument, maturity year (calendar), start 2028  
Debt instrument, maturity year (calendar), end 2035  
2025 debt issuance | Fixed-rate notes | Minimum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 4.00%  
Debt instrument, effective interest rate 4.07%  
2025 debt issuance | Fixed-rate notes | Maximum    
Debt Instrument [Line Items]    
Debt instrument, stated interest rate 4.75%  
Debt instrument, effective interest rate 4.83%  
v3.25.3
Debt - Future Principal Payments for Term Debt (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Debt Disclosure [Abstract]    
2026 $ 12,393  
2027 10,078  
2028 9,300  
2029 5,235  
2030 4,972  
Thereafter 49,303  
Total term debt principal $ 91,281 $ 97,341
v3.25.3
Shareholders' Equity - Additional Information (Details)
shares in Millions, $ in Billions
 12 Months Ended
Sep. 27, 2025
USD ($)
shares
Stockholders' Equity Note [Abstract]  
Number of shares repurchased (in shares) | shares 402
Amount of share repurchases | $ $ 89.3
v3.25.3
Shareholders' Equity - Shares of Common Stock (Details) - shares
shares in Thousands
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Increase (Decrease) in Shares of Common Stock Outstanding [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 15,116,786    
Common stock repurchased (in shares) (402,000)    
Common stock outstanding, ending balances (in shares) 14,773,260 15,116,786  
Common stock      
Increase (Decrease) in Shares of Common Stock Outstanding [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 15,116,786 15,550,061 15,943,425
Common stock repurchased (in shares) (401,672) (499,372) (471,419)
Common stock issued, net of shares withheld for employee taxes (in shares) 58,146 66,097 78,055
Common stock outstanding, ending balances (in shares) 14,773,260 15,116,786 15,550,061
v3.25.3
Share-Based Compensation - Additional Information (Details)
$ / shares in Units, $ in Millions, shares in Billions
 12 Months Ended
Sep. 27, 2025
USD ($)
$ / shares
Sep. 28, 2024
USD ($)
$ / shares
Sep. 30, 2023
USD ($)
$ / shares
Mar. 04, 2022
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total payments to taxing authorities for employees' tax obligations related to vesting of RSUs $ 5,960 $ 5,441 $ 5,431  
Restricted stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-average grant-date fair value of RSUs granted (in dollars per share) | $ / shares $ 226.68 $ 173.78 $ 150.87  
Total vesting-date fair value of RSUs $ 17,100 $ 15,800 $ 15,900  
Total payments to taxing authorities for employees' tax obligations related to vesting of RSUs 6,100 $ 5,600 $ 5,600  
Total unrecognized compensation cost related to outstanding RSUs $ 21,800      
Total unrecognized compensation cost related to outstanding RSUs, weighted-average recognition period 2 years 6 months      
2022 Employee Stock Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares authorized for issuance pursuant to plan awards (in shares) | shares       1.3
2022 Employee Stock Plan | Restricted stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based award, vesting period 4 years      
Number of shares of common stock issued per RSU upon vesting 1      
v3.25.3
Share-Based Compensation - Restricted Stock Unit Activity and Related Information (Details) - Restricted stock units - $ / shares
shares in Thousands
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Number of Restricted Stock Units      
Beginning balance (in shares) 163,326    
RSUs granted (in shares) 73,466    
RSUs vested (in shares) (76,845)    
RSUs forfeited (in shares) (8,373)    
Ending balance (in shares) 151,574 163,326  
Weighted-Average Grant-Date Fair Value Per RSU      
Beginning balance (in dollars per share) $ 158.73    
RSUs granted (in dollars per share) 226.68 $ 173.78 $ 150.87
RSUs vested (in dollars per share) 159.85    
RSUs forfeited (in dollars per share) 183.03    
Ending balance (in dollars per share) $ 189.75 $ 158.73  
v3.25.3
Share-Based Compensation - Summary of Share-Based Compensation Expense and the Related Income Tax Benefit (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]      
Share-based compensation expense $ 12,863 $ 11,688 $ 10,833
Income tax benefit related to share-based compensation expense $ (3,602) $ (3,350) $ (3,421)
v3.25.3
Commitments, Contingencies and Supply Concentrations - Future Payments Under Unconditional Purchase Obligations (Details)
$ in Millions
Sep. 27, 2025
USD ($)
Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]  
2026 $ 4,752
2027 3,708
2028 1,981
2029 1,306
2030 788
Thereafter 773
Total $ 13,308
v3.25.3
Segment Information and Geographic Data - Information by Reportable Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Segment Reporting Information [Line Items]      
Net sales $ 416,161 $ 391,035 $ 383,285
Cost of sales (220,960) (210,352) (214,137)
Research and development (34,550) (31,370) (29,915)
Selling and marketing (19,524) (18,639) (18,260)
General and administrative (8,077) (7,458) (6,672)
Operating income 133,050 123,216 114,301
Corporate non-segment      
Segment Reporting Information [Line Items]      
Research and development (34,550) (31,370) (29,915)
General and administrative (8,077) (7,458) (6,672)
Operating income (42,627) (38,828) (36,587)
Americas | Operating segments      
Segment Reporting Information [Line Items]      
Net sales 178,353 167,045 162,560
Cost of sales (95,699) (89,587) (92,394)
Selling and marketing (10,174) (9,802) (9,658)
Operating income 72,480 67,656 60,508
Europe | Operating segments      
Segment Reporting Information [Line Items]      
Net sales 111,032 101,328 94,294
Cost of sales (58,617) (55,197) (54,101)
Selling and marketing (4,676) (4,341) (4,095)
Operating income 47,739 41,790 36,098
Greater China | Operating segments      
Segment Reporting Information [Line Items]      
Net sales 64,377 66,952 72,559
Cost of sales (35,141) (37,519) (39,787)
Selling and marketing (2,319) (2,351) (2,444)
Operating income 26,917 27,082 30,328
Japan | Operating segments      
Segment Reporting Information [Line Items]      
Net sales 28,703 25,052 24,257
Cost of sales (13,779) (11,744) (11,542)
Selling and marketing (969) (854) (827)
Operating income 13,955 12,454 11,888
Rest of Asia Pacific | Operating segments      
Segment Reporting Information [Line Items]      
Net sales 33,696 30,658 29,615
Cost of sales (17,724) (16,305) (16,313)
Selling and marketing (1,386) (1,291) (1,236)
Operating income $ 14,586 $ 13,062 $ 12,066
v3.25.3
Segment Information and Geographic Data - Net Sales for Countries that Individually Accounted for More than 10% of the Total (Details) - USD ($)
$ in Millions
 12 Months Ended
Sep. 27, 2025
Sep. 28, 2024
Sep. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 416,161 $ 391,035 $ 383,285
U.S.      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 151,790 142,196 138,573
China      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales 64,377 66,952 72,559
Other countries      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net sales $ 199,994 $ 181,887 $ 172,153
v3.25.3
Segment Information and Geographic Data - Long-Lived Assets for Countries that Individually Accounted for More than 10% of the Total (Details) - USD ($)
$ in Millions
Sep. 27, 2025
Sep. 28, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 49,834 $ 45,680
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 40,274 35,664
China    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 3,617 4,797
Other countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 5,943 $ 5,219