AAPL — filing

The Company's business, reputation, results of operations, financial condition and stock price can be affected by a number of factors, whether currently known or unknown, including those described in Part I, Item 1A of the 2024 Form 10-K and Part II, Item 1A of the Forms 10-Q for the quarters ended December 28, 2024 (the "first quarter 2025 Form 10-Q") and March 29, 2025 (the "second quarter 2025 Form 10-Q"), in each case under the heading "Risk Factors." When any one or more of these risks materialize from time to time, the Company's business, reputation, results of operations, financial condition and stock price can be materially and adversely affected. Except for the risk factors disclosed in Part II, Item 1A of the first quarter 2025 Form 10-Q and the second quarter 2025 Form 10-Q , which are hereby incorporated by reference into this Part II, Item 1A of this Form 10-Q, there have been no material changes to the Company's risk factors since the 2024 Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

Share repurchase activity during the three months ended June 28, 2025, was as follows (in millions, except number of shares, which are reflected in thousands, and per-share amounts):

Periods Total Number

of Shares Purchased Average Price

Paid Per Share Total Number of Shares

Purchased as Part of Publicly

Announced Plans or Programs Approximate Dollar Value of

Shares That May Yet Be Purchased

Under the Plans or Programs (1)

March 30, 2025 to May 3, 2025:

Open market and privately negotiated purchases 43,161 $ 200.79 43,161

May 4, 2025 to May 31, 2025:

Open market and privately negotiated purchases 28,223 $ 203.17 28,223

June 1, 2025 to June 28, 2025:

Open market and privately negotiated purchases 32,880 $ 200.73 32,880

Total 104,264 $ 119,779

(1) On May 2, 2024, the Company announced a program to repurchase up to $110 billion of the Company's common stock. As of June 28, 2025, remaining availability under the May 2024 program was $19.8 billion. On May 1, 2025, the Company announced an additional program to repurchase up to $100 billion of the Company's common stock. The 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.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Insider Trading Arrangements

None.

Apple Inc. | Q3 2025 Form 10-Q | 21