Form 10-K · Annual report
Apple Inc. 10-K, filed Nov 3, 2026
- Filed
- CIK
- 0000320193
- Accession no.
- 0000320193-26-000026
Summary
Apple reported fiscal 2026 total net sales of $478.834 billion, up 15% year over year, with iPhone net sales up 21% and Greater China net sales up 28%, while research and development expense rose 32% to $45.765 billion on higher artificial-intelligence infrastructure costs. Apple announced products including Siri AI, iPhone 18 Pro, Apple Watch Series 12 and AirPods 5, and said supply constraints, rising memory and storage costs, and tariffs could materially affect its business.
Key points
- Apple's total net sales for fiscal 2026 were $478.834 billion, up 15% from fiscal 2025.
- iPhone net sales rose 21% to $254.098 billion; Greater China net sales rose 28%.
- Research and development expense increased 32% to $45.765 billion, primarily on higher infrastructure-related costs including artificial intelligence.
- The U.S. Supreme Court struck down certain tariffs imposed under the International Emergency Economic Powers Act; Apple applied for a refund of tariffs paid.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations The following discussion should be read in conjunction with the consolidated financial statements and accompanying notes included in Part II, Item 8 of this Form 10-K. This Item generally discusses 2026 and 2025 items and year-to-year comparisons between 2026 and 2025. Discussions of 2024 items and year-to-year comparisons between 2025 and 2024 are not included, and can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of the Company’s Annual Report on Form 10-K for the fiscal year ended September 27, 2025. …
An excerpt of the text as filed with the SEC, cut for length.
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