APPLE INC., 10-Q filed on 5/3/2024
Quarterly Report
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Cover Page - shares
shares in Thousands
 6 Months Ended
Mar. 30, 2024
Apr. 19, 2024
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 30, 2024  
Document Transition Report false  
Entity File Number 001-36743  
Entity Registrant Name Apple Inc.  
Entity Incorporation, State or Country Code CA  
Entity Tax Identification Number 94-2404110  
Entity Address, Address Line One One Apple Park Way  
Entity Address, City or Town Cupertino  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 95014  
City Area Code 408  
Local Phone Number 996-1010  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   15,334,082
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0000320193  
Current Fiscal Year End Date --09-28  
Common Stock, $0.00001 par value per share    
Entity Information [Line Items]    
Title of 12(b) Security Common Stock, $0.00001 par value per share  
Trading Symbol AAPL  
Security Exchange Name NASDAQ  
0.000% Notes due 2025    
Entity Information [Line Items]    
Title of 12(b) Security 0.000% Notes due 2025  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
0.875% Notes due 2025    
Entity Information [Line Items]    
Title of 12(b) Security 0.875% Notes due 2025  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
1.625% Notes due 2026    
Entity Information [Line Items]    
Title of 12(b) Security 1.625% Notes due 2026  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
2.000% Notes due 2027    
Entity Information [Line Items]    
Title of 12(b) Security 2.000% Notes due 2027  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
1.375% Notes due 2029    
Entity Information [Line Items]    
Title of 12(b) Security 1.375% Notes due 2029  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
3.050% Notes due 2029    
Entity Information [Line Items]    
Title of 12(b) Security 3.050% Notes due 2029  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
0.500% Notes due 2031    
Entity Information [Line Items]    
Title of 12(b) Security 0.500% Notes due 2031  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
3.600% Notes due 2042    
Entity Information [Line Items]    
Title of 12(b) Security 3.600% Notes due 2042  
No Trading Symbol Flag true  
Security Exchange Name NASDAQ  
v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Net sales $ 90,753 $ 94,836 $ 210,328 $ 211,990
Cost of sales 48,482 52,860 113,202 119,682
Gross margin 42,271 41,976 97,126 92,308
Operating expenses:        
Research and development 7,903 7,457 15,599 15,166
Selling, general and administrative 6,468 6,201 13,254 12,808
Total operating expenses 14,371 13,658 28,853 27,974
Operating income 27,900 28,318 68,273 64,334
Other income/(expense), net 158 64 108 (329)
Income before provision for income taxes 28,058 28,382 68,381 64,005
Provision for income taxes 4,422 4,222 10,829 9,847
Net income $ 23,636 $ 24,160 $ 57,552 $ 54,158
Earnings per share:        
Basic (in dollars per share) $ 1.53 $ 1.53 $ 3.72 $ 3.42
Diluted (in dollars per share) $ 1.53 $ 1.52 $ 3.71 $ 3.41
Shares used in computing earnings per share:        
Basic (in shares) 15,405,856 15,787,154 15,457,810 15,839,939
Diluted (in shares) 15,464,709 15,847,050 15,520,675 15,901,384
Products        
Net sales $ 66,886 $ 73,929 $ 163,344 $ 170,317
Cost of sales 42,424 46,795 100,864 107,560
Services        
Net sales 23,867 20,907 46,984 41,673
Cost of sales $ 6,058 $ 6,065 $ 12,338 $ 12,122
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 23,636 $ 24,160 $ 57,552 $ 54,158
Other comprehensive income/(loss):        
Change in foreign currency translation, net of tax (322) (95) (14) (109)
Change in unrealized gains/losses on derivative instruments, net of tax:        
Change in fair value of derivative instruments 456 (13) (75) (1,001)
Adjustment for net (gains)/losses realized and included in net income 232 (191) (591) (1,957)
Total change in unrealized gains/losses on derivative instruments 688 (204) (666) (2,958)
Change in unrealized gains/losses on marketable debt securities, net of tax:        
Change in fair value of marketable debt securities (7) 1,403 3,038 2,303
Adjustment for net (gains)/losses realized and included in net income 59 62 134 127
Total change in unrealized gains/losses on marketable debt securities 52 1,465 3,172 2,430
Total other comprehensive income/(loss) 418 1,166 2,492 (637)
Total comprehensive income $ 24,054 $ 25,326 $ 60,044 $ 53,521
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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Mar. 30, 2024
Sep. 30, 2023
Current assets:    
Cash and cash equivalents $ 32,695 $ 29,965
Marketable securities 34,455 31,590
Accounts receivable, net 21,837 29,508
Vendor non-trade receivables 19,313 31,477
Inventories 6,232 6,331
Other current assets 13,884 14,695
Total current assets 128,416 143,566
Non-current assets:    
Marketable securities 95,187 100,544
Property, plant and equipment, net 43,546 43,715
Other non-current assets 70,262 64,758
Total non-current assets 208,995 209,017
Total assets 337,411 352,583
Current liabilities:    
Accounts payable 45,753 62,611
Other current liabilities 57,298 58,829
Deferred revenue 8,012 8,061
Commercial paper 1,997 5,985
Term debt 10,762 9,822
Total current liabilities 123,822 145,308
Non-current liabilities:    
Term debt 91,831 95,281
Other non-current liabilities 47,564 49,848
Total non-current liabilities 139,395 145,129
Total liabilities 263,217 290,437
Commitments and contingencies
Shareholders’ equity:    
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15,337,686 and 15,550,061 shares issued and outstanding, respectively 78,815 73,812
Retained earnings/(Accumulated deficit) 4,339 (214)
Accumulated other comprehensive loss (8,960) (11,452)
Total shareholders’ equity 74,194 62,146
Total liabilities and shareholders’ equity $ 337,411 $ 352,583
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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares
Mar. 30, 2024
Sep. 30, 2023
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) 15,337,686,000 15,550,061,000
Common stock, shares outstanding (in shares) 15,337,686,000 15,550,061,000
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CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - 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   690    
Common stock withheld related to net share settlement of equity awards   (1,715) (1,130)  
Share-based compensation   5,744    
Net income 54,158   54,158  
Dividends and dividend equivalents declared     (7,396)  
Common stock repurchased     (38,228)  
Other comprehensive income/(loss) (637)     (637)
Ending balances at Apr. 01, 2023 $ 62,158 69,568 4,336 (11,746)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.46      
Beginning balances at Dec. 31, 2022 $ 56,727 66,399 3,240 (12,912)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issued   690    
Common stock withheld related to net share settlement of equity awards   (281) (152)  
Share-based compensation   2,760    
Net income 24,160   24,160  
Dividends and dividend equivalents declared     (3,684)  
Common stock repurchased     (19,228)  
Other comprehensive income/(loss) 1,166     1,166
Ending balances at Apr. 01, 2023 $ 62,158 69,568 4,336 (11,746)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.23      
Beginning balances at Sep. 30, 2023 $ 62,146 73,812 (214) (11,452)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issued   752    
Common stock withheld related to net share settlement of equity awards   (1,882) (1,089)  
Share-based compensation   6,133    
Net income 57,552   57,552  
Dividends and dividend equivalents declared     (7,520)  
Common stock repurchased (44,000)   (44,390)  
Other comprehensive income/(loss) 2,492     2,492
Ending balances at Mar. 30, 2024 $ 74,194 78,815 4,339 (8,960)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.48      
Beginning balances at Dec. 30, 2023 $ 74,100 75,236 8,242 (9,378)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issued   752    
Common stock withheld related to net share settlement of equity awards   (222) (71)  
Share-based compensation   3,049    
Net income 23,636   23,636  
Dividends and dividend equivalents declared     (3,746)  
Common stock repurchased     (23,722)  
Other comprehensive income/(loss) 418     418
Ending balances at Mar. 30, 2024 $ 74,194 $ 78,815 $ 4,339 $ (8,960)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Dividends and dividend equivalents declared per share or RSU (in dollars per share or RSU) $ 0.24      
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Statement of Cash Flows [Abstract]    
Cash, cash equivalents and restricted cash, beginning balances $ 30,737 $ 24,977
Operating activities:    
Net income 57,552 54,158
Adjustments to reconcile net income to cash generated by operating activities:    
Depreciation and amortization 5,684 5,814
Share-based compensation expense 5,961 5,591
Other (1,971) (1,732)
Changes in operating assets and liabilities:    
Accounts receivable, net 7,727 9,596
Vendor non-trade receivables 12,164 14,785
Inventories 53 (2,548)
Other current and non-current assets (4,438) (4,092)
Accounts payable (16,710) (20,764)
Other current and non-current liabilities (3,437) 1,757
Cash generated by operating activities 62,585 62,565
Investing activities:    
Purchases of marketable securities (25,042) (11,197)
Proceeds from maturities of marketable securities 27,462 17,124
Proceeds from sales of marketable securities 4,314 1,897
Payments for acquisition of property, plant and equipment (4,388) (6,703)
Other (729) (247)
Cash generated by investing activities 1,617 874
Financing activities:    
Payments for taxes related to net share settlement of equity awards (2,875) (2,734)
Payments for dividends and dividend equivalents (7,535) (7,418)
Repurchases of common stock (43,344) (39,069)
Repayments of term debt (3,150) (3,651)
Repayments of commercial paper, net (3,982) (7,960)
Other (132) (455)
Cash used in financing activities (61,018) (61,287)
Increase in cash, cash equivalents and restricted cash 3,184 2,152
Cash, cash equivalents and restricted cash, ending balances 33,921 27,129
Supplemental cash flow disclosure:    
Cash paid for income taxes, net $ 14,531 $ 4,894
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Summary of Significant Accounting Policies
 6 Months Ended
Mar. 30, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation and Preparation
The condensed consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Company”). In the opinion of the Company’s management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these condensed consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles (“GAAP”) requires the use of management estimates. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2023 (the “2023 Form 10-K”).
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 2024 and 2023 span 52 and 53 weeks, respectively. 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.
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Revenue
 6 Months Ended
Mar. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Net sales disaggregated by significant products and services for the three- and six-month periods ended March 30, 2024 and April 1, 2023 were as follows (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
iPhone®
$45,963 $51,334 $115,665 $117,109 
Mac®
7,451 7,168 15,231 14,903 
iPad®
5,559 6,670 12,582 16,066 
Wearables, Home and Accessories7,913 8,757 19,866 22,239 
Services23,867 20,907 46,984 41,673 
Total net sales$90,753 $94,836 $210,328 $211,990 
Total net sales include $3.3 billion of revenue recognized in the three months ended March 30, 2024 that was included in deferred revenue as of December 30, 2023, $3.5 billion of revenue recognized in the three months ended April 1, 2023 that was included in deferred revenue as of December 31, 2022, $5.1 billion of revenue recognized in the six months ended March 30, 2024 that was included in deferred revenue as of September 30, 2023, and $5.5 billion of revenue recognized in the six months ended April 1, 2023 that was included in deferred revenue as of September 24, 2022.
The Company’s proportion of net sales by disaggregated revenue source was generally consistent for each reportable segment in Note 10, “Segment Information and Geographic Data” for the three- and six-month periods ended March 30, 2024 and April 1, 2023, except in Greater China, where iPhone revenue represented a moderately higher proportion of net sales.
As of March 30, 2024 and September 30, 2023, the Company had total deferred revenue of $12.6 billion and $12.1 billion, respectively. As of March 30, 2024, the Company expects 64% of total deferred revenue to be realized in less than a year, 26% within one-to-two years, 9% within two-to-three years and 1% in greater than three years.
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Earnings Per Share
 6 Months Ended
Mar. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table shows the computation of basic and diluted earnings per share for the three- and six-month periods ended March 30, 2024 and April 1, 2023 (net income in millions and shares in thousands):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Numerator:
Net income$23,636 $24,160 $57,552 $54,158 
Denominator:
Weighted-average basic shares outstanding15,405,856 15,787,154 15,457,810 15,839,939 
Effect of dilutive share-based awards
58,853 59,896 62,865 61,445 
Weighted-average diluted shares15,464,709 15,847,050 15,520,675 15,901,384 
Basic earnings per share$1.53 $1.53 $3.72 $3.42 
Diluted earnings per share$1.53 $1.52 $3.71 $3.41 
Approximately 48 million restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share for the six months ended April 1, 2023 because their effect would have been antidilutive.
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Financial Instruments
 6 Months Ended
Mar. 30, 2024
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 March 30, 2024 and September 30, 2023 (in millions):
March 30, 2024
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities
Non-Current
Marketable
Securities
Cash$28,227 $— $— $28,227 $28,227 $— $— 
Level 1:
Money market funds1,353 — — 1,353 1,353 — — 
Mutual funds
464 66 (7)523 — 523 — 
Subtotal1,817 66 (7)1,876 1,353 523 — 
Level 2 (1):
U.S. Treasury securities18,150 1 (933)17,218 1,895 4,133 11,190 
U.S. agency securities5,775 — (446)5,329 233 581 4,515 
Non-U.S. government securities17,319 37 (666)16,690 — 11,289 5,401 
Certificates of deposit and time deposits976 — — 976 656 320 — 
Commercial paper1,482 — — 1,482 274 1,208 — 
Corporate debt securities71,612 90 (3,694)68,008 57 15,096 52,855 
Municipal securities511 — (15)496 — 188 308 
Mortgage- and asset-backed securities24,044 37 (2,046)22,035 — 1,117 20,918 
Subtotal139,869 165 (7,800)132,234 3,115 33,932 95,187 
Total (2)
$169,913 $231 $(7,807)$162,337 $32,695 $34,455 $95,187 
September 30, 2023
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash$28,359 $— $— $28,359 $28,359 $— $— 
Level 1:
Money market funds481 — — 481 481 — — 
Mutual funds and equity securities
442 12 (26)428 — 428 — 
Subtotal923 12 (26)909 481 428 — 
Level 2 (1):
U.S. Treasury securities19,406 — (1,292)18,114 35 5,468 12,611 
U.S. agency securities5,736 — (600)5,136 36 271 4,829 
Non-U.S. government securities17,533 6 (1,048)16,491 — 11,332 5,159 
Certificates of deposit and time deposits1,354 — — 1,354 1,034 320 — 
Commercial paper608 — — 608 — 608 — 
Corporate debt securities76,840 6 (5,956)70,890 20 12,627 58,243 
Municipal securities628 — (26)602 — 192 410 
Mortgage- and asset-backed securities22,365 6 (2,735)19,636 — 344 19,292 
Subtotal144,470 18 (11,657)132,831 1,125 31,162 100,544 
Total (2)
$173,752 $30 $(11,683)$162,099 $29,965 $31,590 $100,544 
(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 March 30, 2024 and September 30, 2023, total marketable securities included $14.0 billion and $13.8 billion, respectively, that were restricted from general use, related to the European Commission decision finding that Ireland granted state aid to the Company, and other agreements.
The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of March 30, 2024 (in millions):
Due after 1 year through 5 years$67,987 
Due after 5 years through 10 years9,108 
Due after 10 years18,092 
Total fair value$95,187 
Derivative Instruments and Hedging
The Company may use derivative instruments to partially offset its business exposure to foreign exchange and interest rate risk. However, the Company may choose not to hedge certain exposures for a variety of reasons, including accounting considerations or the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign exchange or interest rates.
Foreign Exchange 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 March 30, 2024, 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 18 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 March 30, 2024 and September 30, 2023 were as follows (in millions):
March 30,
2024		September 30,
2023
Derivative instruments designated as accounting hedges:
Foreign exchange contracts$60,265 $74,730 
Interest rate contracts$17,625 $19,375 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts$75,552 $104,777 
The carrying amounts of the Company’s hedged items in fair value hedges as of March 30, 2024 and September 30, 2023 were as follows (in millions):
March 30,
2024		September 30,
2023
Hedged assets/(liabilities):
Current and non-current marketable securities$15,045 $14,433 
Current and non-current term debt$(16,817)$(18,247)
Accounts Receivable
Trade Receivables
The Company’s third-party cellular network carriers accounted for 34% and 41% of total trade receivables as of March 30, 2024 and September 30, 2023, 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 March 30, 2024, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 47% and 19%. As of September 30, 2023, the Company had two vendors that individually represented 10% or more of total vendor non-trade receivables, which accounted for 48% and 23%.
v3.24.1.u1
Condensed Consolidated Financial Statement Details
 6 Months Ended
Mar. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed Consolidated Financial Statement Details Condensed Consolidated Financial Statement Details
The following table shows the Company’s condensed consolidated financial statement details as of March 30, 2024 and September 30, 2023 (in millions):
Property, Plant and Equipment, Net
March 30,
2024		September 30,
2023
Gross property, plant and equipment$115,243 $114,599 
Accumulated depreciation
(71,697)(70,884)
Total property, plant and equipment, net$43,546 $43,715 
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Debt
 6 Months Ended
Mar. 30, 2024
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 March 30, 2024 and September 30, 2023, the Company had $2.0 billion and $6.0 billion of commercial paper outstanding, respectively. The following table provides a summary of cash flows associated with the issuance and maturities of commercial paper for the six months ended March 30, 2024 and April 1, 2023 (in millions):
Six Months Ended
March 30,
2024		April 1,
2023
Maturities 90 days or less:
Repayments of commercial paper, net$(3,982)$(5,315)
Maturities greater than 90 days:
Repayments of commercial paper— (2,645)
Total repayments of commercial paper, net$(3,982)$(7,960)
Term Debt
As of March 30, 2024 and September 30, 2023, the Company had outstanding fixed-rate notes with varying maturities for an aggregate carrying amount of $102.6 billion and $105.1 billion, respectively (collectively the “Notes”). As of March 30, 2024 and September 30, 2023, the fair value of the Company’s Notes, based on Level 2 inputs, was $91.6 billion and $90.8 billion, respectively.
v3.24.1.u1
Shareholders' Equity
 6 Months Ended
Mar. 30, 2024
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
During the six months ended March 30, 2024, the Company repurchased 248 million shares of its common stock for $44.0 billion. The Company’s share repurchase program does not obligate the Company to acquire a minimum amount of shares. Under the program, shares may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
v3.24.1.u1
Share-Based Compensation
 6 Months Ended
Mar. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share-Based Compensation
Restricted Stock Units
A summary of the Company’s RSU activity and related information for the six months ended March 30, 2024 is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant Date Fair
Value Per RSU
Aggregate
Fair Value
(in millions)
Balance as of September 30, 2023180,247 $135.91 
RSUs granted75,826 $171.78 
RSUs vested(47,027)$113.44 
RSUs canceled(5,195)$126.83 
Balance as of March 30, 2024203,851 $154.66 $34,956 
The fair value as of the respective vesting dates of RSUs was $821 million and $8.6 billion for the three- and six-month periods ended March 30, 2024, respectively, and was $1.1 billion and $8.0 billion for the three- and six-month periods ended April 1, 2023, respectively.
Share-Based Compensation
The following table shows share-based compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March 30, 2024 and April 1, 2023 (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Share-based compensation expense$2,964 $2,686 $5,961 $5,591 
Income tax benefit related to share-based compensation expense$(663)$(620)$(1,898)$(1,798)
As of March 30, 2024, the total unrecognized compensation cost related to outstanding RSUs was $24.7 billion, which the Company expects to recognize over a weighted-average period of 2.7 years.
v3.24.1.u1
Contingencies
 6 Months Ended
Mar. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Contingencies 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.
v3.24.1.u1
Segment Information and Geographic Data
 6 Months Ended
Mar. 30, 2024
Segment Reporting [Abstract]  
Segment Information and Geographic Data Segment Information and Geographic Data
The following table shows information by reportable segment for the three- and six-month periods ended March 30, 2024 and April 1, 2023 (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Americas:
Net sales$37,273 $37,784 $87,703 $87,062 
Operating income$15,074 $13,927 $35,431 $31,791 
Europe:
Net sales$24,123 $23,945 $54,520 $51,626 
Operating income$9,991 $9,368 $22,702 $19,385 
Greater China:
Net sales$16,372 $17,812 $37,191 $41,717 
Operating income$6,700 $7,531 $15,322 $17,968 
Japan:
Net sales$6,262 $7,176 $14,029 $13,931 
Operating income$3,135 $3,394 $6,954 $6,630 
Rest of Asia Pacific:
Net sales$6,723 $8,119 $16,885 $17,654 
Operating income$2,806 $3,268 $7,385 $7,119 
A reconciliation of the Company’s segment operating income to the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March 30, 2024 and April 1, 2023 is as follows (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Segment operating income$37,706 $37,488 $87,794 $82,893 
Research and development expense(7,903)(7,457)(15,599)(15,166)
Other corporate expenses, net(1,903)(1,713)(3,922)(3,393)
Total operating income$27,900 $28,318 $68,273 $64,334 
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Pay vs Performance Disclosure        
Net income $ 23,636 $ 24,160 $ 57,552 $ 54,158
v3.24.1.u1
Insider Trading Arrangements
 3 Months Ended
Mar. 30, 2024
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
v3.24.1.u1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Mar. 30, 2024
Accounting Policies [Abstract]  
Basis of Presentation and Preparation
Basis of Presentation and Preparation
The condensed consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively “Apple” or the “Company”). In the opinion of the Company’s management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these condensed consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles (“GAAP”) requires the use of management estimates. These condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2023 (the “2023 Form 10-K”).
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 2024 and 2023 span 52 and 53 weeks, respectively. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company’s fiscal years ended in September and the associated quarters, months and periods of those fiscal years.
Fair Value Measurements 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.
v3.24.1.u1
Revenue (Tables)
 6 Months Ended
Mar. 30, 2024
Revenue from Contract with Customer [Abstract]  
Net Sales Disaggregated by Significant Products and Services
Net sales disaggregated by significant products and services for the three- and six-month periods ended March 30, 2024 and April 1, 2023 were as follows (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
iPhone®
$45,963 $51,334 $115,665 $117,109 
Mac®
7,451 7,168 15,231 14,903 
iPad®
5,559 6,670 12,582 16,066 
Wearables, Home and Accessories7,913 8,757 19,866 22,239 
Services23,867 20,907 46,984 41,673 
Total net sales$90,753 $94,836 $210,328 $211,990 
v3.24.1.u1
Earnings Per Share (Tables)
 6 Months Ended
Mar. 30, 2024
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 the three- and six-month periods ended March 30, 2024 and April 1, 2023 (net income in millions and shares in thousands):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Numerator:
Net income$23,636 $24,160 $57,552 $54,158 
Denominator:
Weighted-average basic shares outstanding15,405,856 15,787,154 15,457,810 15,839,939 
Effect of dilutive share-based awards
58,853 59,896 62,865 61,445 
Weighted-average diluted shares15,464,709 15,847,050 15,520,675 15,901,384 
Basic earnings per share$1.53 $1.53 $3.72 $3.42 
Diluted earnings per share$1.53 $1.52 $3.71 $3.41 
v3.24.1.u1
Financial Instruments (Tables)
 6 Months Ended
Mar. 30, 2024
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 March 30, 2024 and September 30, 2023 (in millions):
March 30, 2024
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities
Non-Current
Marketable
Securities
Cash$28,227 $— $— $28,227 $28,227 $— $— 
Level 1:
Money market funds1,353 — — 1,353 1,353 — — 
Mutual funds
464 66 (7)523 — 523 — 
Subtotal1,817 66 (7)1,876 1,353 523 — 
Level 2 (1):
U.S. Treasury securities18,150 1 (933)17,218 1,895 4,133 11,190 
U.S. agency securities5,775 — (446)5,329 233 581 4,515 
Non-U.S. government securities17,319 37 (666)16,690 — 11,289 5,401 
Certificates of deposit and time deposits976 — — 976 656 320 — 
Commercial paper1,482 — — 1,482 274 1,208 — 
Corporate debt securities71,612 90 (3,694)68,008 57 15,096 52,855 
Municipal securities511 — (15)496 — 188 308 
Mortgage- and asset-backed securities24,044 37 (2,046)22,035 — 1,117 20,918 
Subtotal139,869 165 (7,800)132,234 3,115 33,932 95,187 
Total (2)
$169,913 $231 $(7,807)$162,337 $32,695 $34,455 $95,187 
September 30, 2023
Adjusted
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value		Cash and
Cash
Equivalents		Current
Marketable
Securities		Non-Current
Marketable
Securities
Cash$28,359 $— $— $28,359 $28,359 $— $— 
Level 1:
Money market funds481 — — 481 481 — — 
Mutual funds and equity securities
442 12 (26)428 — 428 — 
Subtotal923 12 (26)909 481 428 — 
Level 2 (1):
U.S. Treasury securities19,406 — (1,292)18,114 35 5,468 12,611 
U.S. agency securities5,736 — (600)5,136 36 271 4,829 
Non-U.S. government securities17,533 6 (1,048)16,491 — 11,332 5,159 
Certificates of deposit and time deposits1,354 — — 1,354 1,034 320 — 
Commercial paper608 — — 608 — 608 — 
Corporate debt securities76,840 6 (5,956)70,890 20 12,627 58,243 
Municipal securities628 — (26)602 — 192 410 
Mortgage- and asset-backed securities22,365 6 (2,735)19,636 — 344 19,292 
Subtotal144,470 18 (11,657)132,831 1,125 31,162 100,544 
Total (2)
$173,752 $30 $(11,683)$162,099 $29,965 $31,590 $100,544 
(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 March 30, 2024 and September 30, 2023, total marketable securities included $14.0 billion and $13.8 billion, respectively, that were restricted from general use, related to the European Commission decision finding that Ireland granted state aid to the Company, and other agreements.
Non-Current Marketable Debt Securities by Contractual Maturity
The following table shows the fair value of the Company’s non-current marketable debt securities, by contractual maturity, as of March 30, 2024 (in millions):
Due after 1 year through 5 years$67,987 
Due after 5 years through 10 years9,108 
Due after 10 years18,092 
Total fair value$95,187 
Notional Amounts of Outstanding Derivative Instruments
The notional amounts of the Company’s outstanding derivative instruments as of March 30, 2024 and September 30, 2023 were as follows (in millions):
March 30,
2024		September 30,
2023
Derivative instruments designated as accounting hedges:
Foreign exchange contracts$60,265 $74,730 
Interest rate contracts$17,625 $19,375 
Derivative instruments not designated as accounting hedges:
Foreign exchange contracts$75,552 $104,777 
Carrying Amounts of Hedged Items in Fair Value Hedges
The carrying amounts of the Company’s hedged items in fair value hedges as of March 30, 2024 and September 30, 2023 were as follows (in millions):
March 30,
2024		September 30,
2023
Hedged assets/(liabilities):
Current and non-current marketable securities$15,045 $14,433 
Current and non-current term debt$(16,817)$(18,247)
v3.24.1.u1
Condensed Consolidated Financial Statement Details (Tables)
 6 Months Ended
Mar. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Property, Plant and Equipment, Net
The following table shows the Company’s condensed consolidated financial statement details as of March 30, 2024 and September 30, 2023 (in millions):
Property, Plant and Equipment, Net
March 30,
2024		September 30,
2023
Gross property, plant and equipment$115,243 $114,599 
Accumulated depreciation
(71,697)(70,884)
Total property, plant and equipment, net$43,546 $43,715 
v3.24.1.u1
Debt (Tables)
 6 Months Ended
Mar. 30, 2024
Debt Disclosure [Abstract]  
Summary of Cash Flows Associated with the Issuance and Maturities of Commercial Paper The following table provides a summary of cash flows associated with the issuance and maturities of commercial paper for the six months ended March 30, 2024 and April 1, 2023 (in millions):
Six Months Ended
March 30,
2024		April 1,
2023
Maturities 90 days or less:
Repayments of commercial paper, net$(3,982)$(5,315)
Maturities greater than 90 days:
Repayments of commercial paper— (2,645)
Total repayments of commercial paper, net$(3,982)$(7,960)
v3.24.1.u1
Share-Based Compensation (Tables)
 6 Months Ended
Mar. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Unit Activity
A summary of the Company’s RSU activity and related information for the six months ended March 30, 2024 is as follows:
Number of
RSUs
(in thousands)
Weighted-Average
Grant Date Fair
Value Per RSU
Aggregate
Fair Value
(in millions)
Balance as of September 30, 2023180,247 $135.91 
RSUs granted75,826 $171.78 
RSUs vested(47,027)$113.44 
RSUs canceled(5,195)$126.83 
Balance as of March 30, 2024203,851 $154.66 $34,956 
Summary of Share-Based Compensation Expense and the Related Income Tax Benefit
The following table shows share-based compensation expense and the related income tax benefit included in the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March 30, 2024 and April 1, 2023 (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Share-based compensation expense$2,964 $2,686 $5,961 $5,591 
Income tax benefit related to share-based compensation expense$(663)$(620)$(1,898)$(1,798)
v3.24.1.u1
Segment Information and Geographic Data (Tables)
 6 Months Ended
Mar. 30, 2024
Segment Reporting [Abstract]  
Information by Reportable Segment
The following table shows information by reportable segment for the three- and six-month periods ended March 30, 2024 and April 1, 2023 (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Americas:
Net sales$37,273 $37,784 $87,703 $87,062 
Operating income$15,074 $13,927 $35,431 $31,791 
Europe:
Net sales$24,123 $23,945 $54,520 $51,626 
Operating income$9,991 $9,368 $22,702 $19,385 
Greater China:
Net sales$16,372 $17,812 $37,191 $41,717 
Operating income$6,700 $7,531 $15,322 $17,968 
Japan:
Net sales$6,262 $7,176 $14,029 $13,931 
Operating income$3,135 $3,394 $6,954 $6,630 
Rest of Asia Pacific:
Net sales$6,723 $8,119 $16,885 $17,654 
Operating income$2,806 $3,268 $7,385 $7,119 
Reconciliation of Segment Operating Income to the Condensed Consolidated Statements of Operations
A reconciliation of the Company’s segment operating income to the Condensed Consolidated Statements of Operations for the three- and six-month periods ended March 30, 2024 and April 1, 2023 is as follows (in millions):
Three Months EndedSix Months Ended
March 30,
2024		April 1,
2023		March 30,
2024		April 1,
2023
Segment operating income$37,706 $37,488 $87,794 $82,893 
Research and development expense(7,903)(7,457)(15,599)(15,166)
Other corporate expenses, net(1,903)(1,713)(3,922)(3,393)
Total operating income$27,900 $28,318 $68,273 $64,334 
v3.24.1.u1
Revenue - Net Sales Disaggregated by Significant Products and Services (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Disaggregation of Revenue [Line Items]        
Net sales $ 90,753 $ 94,836 $ 210,328 $ 211,990
iPhone        
Disaggregation of Revenue [Line Items]        
Net sales 45,963 51,334 115,665 117,109
Mac        
Disaggregation of Revenue [Line Items]        
Net sales 7,451 7,168 15,231 14,903
iPad        
Disaggregation of Revenue [Line Items]        
Net sales 5,559 6,670 12,582 16,066
Wearables, Home and Accessories        
Disaggregation of Revenue [Line Items]        
Net sales 7,913 8,757 19,866 22,239
Services        
Disaggregation of Revenue [Line Items]        
Net sales $ 23,867 $ 20,907 $ 46,984 $ 41,673
v3.24.1.u1
Revenue - Additional Information (Details) - USD ($)
$ in Billions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]          
Revenue recognized that was included in deferred revenue at the beginning of the period $ 3.3 $ 3.5 $ 5.1 $ 5.5  
Total deferred revenue $ 12.6   $ 12.6   $ 12.1
v3.24.1.u1
Revenue - Deferred Revenue, Expected Timing of Realization (Details)
Mar. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-31  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 64.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-30  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 26.00%
Deferred revenue, expected timing of realization, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-03-29  
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]: 2027-03-28  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Deferred revenue, expected timing of realization, percentage 1.00%
Deferred revenue, expected timing of realization, period 1 year
v3.24.1.u1
Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Numerator:        
Net income $ 23,636 $ 24,160 $ 57,552 $ 54,158
Denominator:        
Weighted-average basic shares outstanding (in shares) 15,405,856 15,787,154 15,457,810 15,839,939
Effect of dilutive share-based awards (in shares) 58,853 59,896 62,865 61,445
Weighted-average diluted shares (in shares) 15,464,709 15,847,050 15,520,675 15,901,384
Basic earnings per share (in dollars per share) $ 1.53 $ 1.53 $ 3.72 $ 3.42
Diluted earnings per share (in dollars per share) $ 1.53 $ 1.52 $ 3.71 $ 3.41
v3.24.1.u1
Earnings Per Share - Additional Information (Details)
shares in Millions
 6 Months Ended
Apr. 01, 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) 48
v3.24.1.u1
Financial Instruments - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Mar. 30, 2024
Sep. 30, 2023
Marketable Securities [Line Items]    
Cash, Cash Equivalents and Marketable Securities, Adjusted Cost $ 169,913 $ 173,752
Cash Equivalents and Marketable Securities, Unrealized Gains 231 30
Cash Equivalents and Marketable Securities, Unrealized Losses (7,807) (11,683)
Cash, Cash Equivalents and Marketable Securities, Fair Value 162,337 162,099
Cash and Cash Equivalents 32,695 29,965
Current Marketable Securities 34,455 31,590
Non-Current Marketable Securities 95,187 100,544
Total marketable securities that were restricted from general use 14,000 13,800
Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost 1,817 923
Marketable Securities, Equity, Unrealized Gains 66 12
Marketable Securities, Equity, Unrealized Losses (7) (26)
Marketable Securities, Equity, Fair Value 1,876 909
Cash and Cash Equivalents 1,353 481
Current Marketable Securities 523 428
Non-Current Marketable Securities 0 0
Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 139,869 144,470
Marketable Securities, Debt, Unrealized Gains 165 18
Marketable Securities, Debt, Unrealized Losses (7,800) (11,657)
Marketable Securities, Debt, Fair Value 132,234 132,831
Cash and Cash Equivalents 3,115 1,125
Current Marketable Securities 33,932 31,162
Non-Current Marketable Securities 95,187 100,544
Cash    
Marketable Securities [Line Items]    
Cash 28,227 28,359
Cash and Cash Equivalents 28,227 28,359
Current Marketable Securities 0 0
Non-Current Marketable Securities 0 0
Money market funds | Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost 1,353 481
Marketable Securities, Equity, Unrealized Gains 0 0
Marketable Securities, Equity, Unrealized Losses 0 0
Marketable Securities, Equity, Fair Value 1,353 481
Cash and Cash Equivalents 1,353 481
Current Marketable Securities 0 0
Non-Current Marketable Securities 0 0
Mutual funds | Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost 464  
Marketable Securities, Equity, Unrealized Gains 66  
Marketable Securities, Equity, Unrealized Losses (7)  
Marketable Securities, Equity, Fair Value 523  
Cash and Cash Equivalents 0  
Current Marketable Securities 523  
Non-Current Marketable Securities 0  
Mutual funds and equity securities | Level 1    
Marketable Securities [Line Items]    
Marketable Securities, Equity, Adjusted Cost   442
Marketable Securities, Equity, Unrealized Gains   12
Marketable Securities, Equity, Unrealized Losses   (26)
Marketable Securities, Equity, Fair Value   428
Cash and Cash Equivalents   0
Current Marketable Securities   428
Non-Current Marketable Securities   0
U.S. Treasury securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 18,150 19,406
Marketable Securities, Debt, Unrealized Gains 1 0
Marketable Securities, Debt, Unrealized Losses (933) (1,292)
Marketable Securities, Debt, Fair Value 17,218 18,114
Cash and Cash Equivalents 1,895 35
Current Marketable Securities 4,133 5,468
Non-Current Marketable Securities 11,190 12,611
U.S. agency securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 5,775 5,736
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses (446) (600)
Marketable Securities, Debt, Fair Value 5,329 5,136
Cash and Cash Equivalents 233 36
Current Marketable Securities 581 271
Non-Current Marketable Securities 4,515 4,829
Non-U.S. government securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 17,319 17,533
Marketable Securities, Debt, Unrealized Gains 37 6
Marketable Securities, Debt, Unrealized Losses (666) (1,048)
Marketable Securities, Debt, Fair Value 16,690 16,491
Cash and Cash Equivalents 0 0
Current Marketable Securities 11,289 11,332
Non-Current Marketable Securities 5,401 5,159
Certificates of deposit and time deposits | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 976 1,354
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 976 1,354
Cash and Cash Equivalents 656 1,034
Current Marketable Securities 320 320
Non-Current Marketable Securities 0 0
Commercial paper | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 1,482 608
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses 0 0
Marketable Securities, Debt, Fair Value 1,482 608
Cash and Cash Equivalents 274 0
Current Marketable Securities 1,208 608
Non-Current Marketable Securities 0 0
Corporate debt securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 71,612 76,840
Marketable Securities, Debt, Unrealized Gains 90 6
Marketable Securities, Debt, Unrealized Losses (3,694) (5,956)
Marketable Securities, Debt, Fair Value 68,008 70,890
Cash and Cash Equivalents 57 20
Current Marketable Securities 15,096 12,627
Non-Current Marketable Securities 52,855 58,243
Municipal securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 511 628
Marketable Securities, Debt, Unrealized Gains 0 0
Marketable Securities, Debt, Unrealized Losses (15) (26)
Marketable Securities, Debt, Fair Value 496 602
Cash and Cash Equivalents 0 0
Current Marketable Securities 188 192
Non-Current Marketable Securities 308 410
Mortgage- and asset-backed securities | Level 2    
Marketable Securities [Line Items]    
Marketable Securities, Debt, Adjusted Cost 24,044 22,365
Marketable Securities, Debt, Unrealized Gains 37 6
Marketable Securities, Debt, Unrealized Losses (2,046) (2,735)
Marketable Securities, Debt, Fair Value 22,035 19,636
Cash and Cash Equivalents 0 0
Current Marketable Securities 1,117 344
Non-Current Marketable Securities $ 20,918 $ 19,292
v3.24.1.u1
Financial Instruments - Non-Current Marketable Debt Securities by Contractual Maturity (Details)
$ in Millions
Mar. 30, 2024
USD ($)
Fair value of non-current marketable debt securities by contractual maturity  
Due after 1 year through 5 years $ 67,987
Due after 5 years through 10 years 9,108
Due after 10 years 18,092
Total fair value $ 95,187
v3.24.1.u1
Financial Instruments - Additional Information (Details) - Vendor
 6 Months Ended 12 Months Ended
Mar. 30, 2024
Sep. 30, 2023
Trade receivables | Credit concentration risk | Cellular network carriers    
Financial Instruments [Line Items]    
Concentration risk, percentage 34.00% 41.00%
Non-trade receivables | Credit concentration risk    
Financial Instruments [Line Items]    
Number of vendors that individually represented 10% or more of total vendor non-trade receivables 2 2
Non-trade receivables | Credit concentration risk | Vendor one    
Financial Instruments [Line Items]    
Concentration risk, percentage 47.00% 48.00%
Non-trade receivables | Credit concentration risk | Vendor two    
Financial Instruments [Line Items]    
Concentration risk, percentage 19.00% 23.00%
Hedges of foreign currency exposure associated with revenue and inventory purchases    
Financial Instruments [Line Items]    
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    
Financial Instruments [Line Items]    
Maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for foreign currency transactions 18 years  
v3.24.1.u1
Financial Instruments - Notional Amounts of Derivative Instruments (Details) - USD ($)
$ in Millions
Mar. 30, 2024
Sep. 30, 2023
Derivatives designated as accounting hedges | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivatives, notional amount $ 60,265 $ 74,730
Derivatives designated as accounting hedges | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Derivatives, notional amount 17,625 19,375
Derivatives not designated as accounting hedges | Foreign exchange contracts    
Derivatives, Fair Value [Line Items]    
Derivatives, notional amount $ 75,552 $ 104,777
v3.24.1.u1
Financial Instruments - Derivative Instruments Designated as Fair Value Hedges and Related Hedged Items (Details) - USD ($)
$ in Millions
Mar. 30, 2024
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Carrying amount of hedged marketable securities $ 15,045 $ 14,433
Hedged asset, statement of financial position [Extensible Enumeration] Marketable securities, Marketable securities Marketable securities, Marketable securities
Carrying amount of hedged term debt $ (16,817) $ (18,247)
Hedged liability, statement of financial position [Extensible Enumeration] Term debt, Term debt Term debt, Term debt
v3.24.1.u1
Condensed Consolidated Financial Statement Details - Property, Plant and Equipment, Net (Details) - USD ($)
$ in Millions
Mar. 30, 2024
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Gross property, plant and equipment $ 115,243 $ 114,599
Accumulated depreciation (71,697) (70,884)
Total property, plant and equipment, net $ 43,546 $ 43,715
v3.24.1.u1
Debt - Additional Information (Details) - USD ($)
$ in Millions
Mar. 30, 2024
Sep. 30, 2023
Debt Instrument [Line Items]    
Commercial paper $ 1,997 $ 5,985
Fixed-rate notes, aggregate carrying amount 102,600 105,100
Commercial paper    
Debt Instrument [Line Items]    
Commercial paper 2,000 6,000
Level 2    
Debt Instrument [Line Items]    
Fixed-rate notes, aggregate fair value $ 91,600 $ 90,800
v3.24.1.u1
Debt - Summary of Cash Flows Associated with Commercial Paper (Details) - USD ($)
$ in Millions
 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Maturities 90 days or less:    
Repayments of commercial paper, net $ (3,982) $ (5,315)
Maturities greater than 90 days:    
Repayments of commercial paper 0 (2,645)
Total repayments of commercial paper, net $ (3,982) $ (7,960)
v3.24.1.u1
Shareholders' Equity - Additional Information (Details)
shares in Millions, $ in Billions
 6 Months Ended
Mar. 30, 2024
USD ($)
shares
Stockholders' Equity Note [Abstract]  
Number of shares repurchased (in shares) | shares 248
Amount of share repurchases | $ $ 44.0
v3.24.1.u1
Share-Based Compensation - Restricted Stock Unit Activity and Related Information (Details) - Restricted stock units
$ / shares in Units, shares in Thousands, $ in Millions
 6 Months Ended
Mar. 30, 2024
USD ($)
$ / shares
shares
Number of Restricted Stock Units  
Beginning balance (in shares) | shares 180,247
RSUs granted (in shares) | shares 75,826
RSUs vested (in shares) | shares (47,027)
RSUs canceled (in shares) | shares (5,195)
Ending balance (in shares) | shares 203,851
Weighted-Average Grant Date Fair Value Per RSU  
Beginning balance (in dollars per share) | $ / shares $ 135.91
RSUs granted (in dollars per share) | $ / shares 171.78
RSUs vested (in dollars per share) | $ / shares 113.44
RSUs canceled (in dollars per share) | $ / shares 126.83
Ending balance (in dollars per share) | $ / shares $ 154.66
Aggregate Fair Value  
Aggregate fair value of RSUs | $ $ 34,956
v3.24.1.u1
Share-Based Compensation - Additional Information (Details) - Restricted stock units - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Fair value of RSUs as of the respective vesting dates $ 821 $ 1,100 $ 8,600 $ 8,000
Total unrecognized compensation cost related to RSUs $ 24,700   $ 24,700  
Total unrecognized compensation cost related to RSUs, weighted-average recognition period     2 years 8 months 12 days  
v3.24.1.u1
Share-Based Compensation - Summary of Share-Based Compensation Expense and the Related Income Tax Benefit (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Share-Based Payment Arrangement [Abstract]        
Share-based compensation expense $ 2,964 $ 2,686 $ 5,961 $ 5,591
Income tax benefit related to share-based compensation expense $ (663) $ (620) $ (1,898) $ (1,798)
v3.24.1.u1
Segment Information and Geographic Data - Information by Reportable Segment (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Segment Reporting Information [Line Items]        
Net sales $ 90,753 $ 94,836 $ 210,328 $ 211,990
Operating income 27,900 28,318 68,273 64,334
Americas        
Segment Reporting Information [Line Items]        
Net sales 37,273 37,784 87,703 87,062
Operating income 15,074 13,927 35,431 31,791
Europe        
Segment Reporting Information [Line Items]        
Net sales 24,123 23,945 54,520 51,626
Operating income 9,991 9,368 22,702 19,385
Greater China        
Segment Reporting Information [Line Items]        
Net sales 16,372 17,812 37,191 41,717
Operating income 6,700 7,531 15,322 17,968
Japan        
Segment Reporting Information [Line Items]        
Net sales 6,262 7,176 14,029 13,931
Operating income 3,135 3,394 6,954 6,630
Rest of Asia Pacific        
Segment Reporting Information [Line Items]        
Net sales 6,723 8,119 16,885 17,654
Operating income $ 2,806 $ 3,268 $ 7,385 $ 7,119
v3.24.1.u1
Segment Information and Geographic Data - Reconciliation of Segment Operating Income to the Condensed Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Mar. 30, 2024
Apr. 01, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Operating income $ 27,900 $ 28,318 $ 68,273 $ 64,334
Research and development expense (7,903) (7,457) (15,599) (15,166)
Operating segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Operating income 37,706 37,488 87,794 82,893
Segment reconciling items        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Research and development expense (7,903) (7,457) (15,599) (15,166)
Corporate non-segment        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Other corporate expenses, net $ (1,903) $ (1,713) $ (3,922) $ (3,393)