Apple Inc., headquartered in Cupertino, California, is a global technology leader renowned for its innovative consumer electronics, software, and services. Founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple designs, manufactures, and markets products like the iPhone, iPad, Mac, Apple Watch, and AirPods. Its software ecosystem, including iOS, macOS, and services like Apple Music, iCloud, and Apple Pay, drives seamless user experiences. With a market capitalization exceeding $3 trillion in 2025, Apple is one of the world's most valuable companies. Its focus on premium design, privacy, and sustainability sets it apart in the tech industry. Apple's supply chain spans Asia, with key manufacturing partners like Foxconn. The company operates over 500 retail stores worldwide and employs approximately 147,000 people. Under CEO Tim Cook, Apple continues to invest in augmented reality, artificial intelligence, and health technologies, positioning itself for future growth. Its services segment, generating significant revenue, complements hardware sales. Apple's commitment to carbon neutrality by 2030 underscores its environmental responsibility. Despite challenges like supply chain disruptions and regulatory scrutiny, Apple's brand loyalty and innovation pipeline ensure sustained market dominance. It is the NASDAQ's largest Technology company by market capitalisation.



+    Just Capital:
Apple Inc. was ranked 7 in the Just Capital annual list of top 100 ESG stocks for 2022; it was ranked 1 in the Technology Hardware sector.
+    Fortune 500:
It is a new entrant in the Fortune list of Top 500 Global companies by Revenues in 2022, ranked 3.
+    Top 50 BCG:
It was ranked 1 in Boston Consulting Group's list of Top 50 Most Innovative Companies 2021; unchanged over a year from the same rank 1 in 2020.
+    Good Jobs First:
It received aggregate subsidies of $820.7 million from US federal, state and local awards in 2020. It was ranked 57 by aggregate subsidy values in the Good Jobs First list of Top 100 Parent companies in 2020.
+    Carbon Disclosure Project (CDP):
It is one of 181 companies selected by the Carbon Disclosure Project (CDP) in their A List 2019. The CDP names the world's most pioneering companies leading on environmental transparency and performance.
+    Industryweek 1000:
It is a new entrant in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2016, ranked 7.
+    Newsweek 500:
It was ranked 26 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 15% in Carbon productivity, 11.7% in Water productivity and 11.3% in Waste productivity.
+    Citi Top 50:
It was ranked in Citi's Top 50 global cash cows with reinvest-to-payout ratio of 0.28.
+    PwC 100:
It was ranked 1 by MCap as at March 31, 2015 by PwC in the Top 100 Global companies; an improvement over 6 years from rank 33 as at March 31, 2009.
+    PwC Top100 Software Leaders:
It is the 28th largest by revenue and largest by MCap among the PwC Global Software Leaders.

Website	http://www.apple.com
Physical Address	1 Infinite Loop,Cupertino,CA,95014
Phone	+1 408 996-1010
Fax	+1 408 974-2483
Email	investor_relations@apple.com

Classification Level	Name of Sector
Economic Sector	Technology

Code: 334220
Industry Title: Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing

Year ended Sep 24	FY2024	FY2023	FY2022
Sales ($ B)	391	383.3	394.3
Pretax ($ B)	123.5	113.7	119.1
Net ($ B)	93.7	97	99.8
EPS ($)	6.11	6.16	6.15

EPS down 0.8% to $6.11 in FY2024 [ y.e. 28 Sep 2024]
+    Net profit was down 3.4% from $97 billion in FY2023 to $93.7 billion in FY2024.
+    Earnings Per Share (EPS) was down 0.8% from $6.16 in FY2023 to $6.11 in FY2024.



Apple Net Profit down 3.4%
Release Date: February 04, 2025
Apple (NASDAQ:AAPL) reported net profit for the year-ended 28 September 2024 [FY2024] of $93.7b, down 3.4% from $97.0b in the previous year [FY2023]. Earnings per share (EPS) were down 0.8% from $6.16 in FY2023 to $6.11 in FY2024.

Year-ended	28 September [FY/2024]	30 September [FY/2023]
Revenue, $ Billion	391	383
Growth in Revenue %	2.0	-2.8
Net Profit, $ Billion	93.7	97.0
Growth in Net Profit %	-3.4	-2.8
EPS, $	6.11	6.16
Growth in EPS %	-0.8	0.2

Major changes compared with previous year (FY2024 vs FY2023):
Favourable Changes:
- Sales revenue up 2% from $383.3b to $391.0b
- EBIT Margin up from 29.7% to 31.6%
- EBIT to total assets up from 32.3% to 33.8%
- Cost of Goods Sold to Sales down from 55.9% to 53.8%
- Profit before tax to Sales up from 29.7% to 31.6%
Unfavourable Changes:
- Net profit down 3.4% from $97.0b to $93.7b
- Sales and marketing expenses to Sales up from 6.5% to 6.7%
- Current ratio down 12.1% from 1.0 to 0.9
- Total non-current assets to Total Assets down from 59.3% to 58.1%
- Long-term investments to Total Assets down from 28.5% to 25.1%

Year-on-year comparison of Performance Ratios [FY2024 vs FY2023]

September 28	FY2024	FY2023	Change (%)
Return on Equity (%)	164.6	156.1	Up 5.4
Return on Assets (%)	25.7	27.5	Down 6.5
Total debt to net tangible assets (%)	17.5	9.6	Up 82.3
Debt/Equity	0.2	-	na
Common Size Ratios by Assets %
Long-term investments to Total Assets	25.1	28.5	Down 12.0
Current Debtors to Total Assets	18.1	17.3	Up 4.6

Five-year record of growth and performance:
In the last 5 years Total Revenue averaged $361.8B, EBITDA averaged $106.5B and Net Profit averaged $88.5B. Compound Annual Growth Rate (CAGR) averaged 8.5% for Total Revenue, 11.1% for Net Profit and 13.4% for EBITDA.

Description	Annual ($ B)	5-year Avg ($ B)	5-year CAGR %
Total Revenue	391	361.8	8.5
EBITDA	123.5	106.5	13.4
Operating Profit	123.5	106.5	13.4
Net Profit	93.7	88.5	11.1

Five-year record of EBITDA, Operating Profit, Net Profit, ROA and ROCE
In 2024 Net Profit Margin of 24.0% was below its 5-year Avg of 24.3% (All Figures in %)

Description	2024	5-year Avg
EBITDA Margin	31.6	29.1
Operating Profit Margin	31.6	29.1
Net Profit Margin	24	24.3
Return on Assets	25.7	25.2
Return on Capital Employed	65.5	51.9

In the past 5 years, Income Tax as % of profit before tax increased from 14.4% to 24.1%, Income Tax as % of sales increased from 3.5% to 7.6% and Income Tax as % of operating cash flow increased from 14.4% to 24.1%.

Description	2024	2023	2022	2021	2020
As % of profit before tax	24.1	14.7	16.2	13.3	14.4
As % of operating cash flow	24.1	14.7	16.2	13.3	14.4
As % of sales	7.6	4.4	4.9	4	3.5

The 5-year average of profit before tax was 16.5%.



In the past 5 years annual dividends have increased by 17.5c from 83.5c to 101.0c. Based on a start date of 5 years ago, there has been no decline in dividends over the last 5 years.

Date Paid	Value (c)	Type
12 May 2025	26	Quarterly
10 Feb 2025	25	Quarterly
11 Nov 2024	25	Quarterly
12 Aug 2024	25	Quarterly
Tr 12 Months	101
2023 - 2024	97
2022 - 2023	93
2021 - 2022	89
2020 - 2021	83.5

Top Management [Six top executives with tenure > 13 yrs]

Name	Designation	Since Appointment
Tim Cook	Chief Executive Officer, Director	13 Yrs, 10 Mos
Arthur D. Levinson	Chairman, Director	24 Yrs, 10 Mos
Kevan Parekh	Chief Financial Officer, Senior Vice President	-
Jeff Williams	Chief Operating Officer	-
Katherine Adams	Vice President, General Counsel	-
Isabel Ge Mahe	Vice President, Managing Director of Greater China	-

Board Of Directors [One director with tenure > 14 yrs]

Name	Since Appointment
Ronald D. Sugar	14 Yrs, 7 Mos

Board Of Directors [Five directors with tenure < 4 yrs]

Name	Since Appointment
Alex Gorsky	3 Yrs, 7 Mos
Susan L. Wagner	-
Andrea Jung	-
Monica Lozano	-
Wanda Austin	-

+ Tim Cook- Glassdoor Ranking:
Tim Cook was ranked 32 in the Glassdoor Employee Review's list of 100 Top CEOs in the United States for 2021.

+ Tim Cook- Bloomberg Pay Index Ranking:
Tim Cook was ranked 3 in the Bloomberg Pay Index list in the United States for 2021, an improvement from rank 8 in 2020. According to Bloomberg Pay Index, Tim Cook's total compensation had increased by (222.13%) $588.7 million from $265 million to $853.8 million in 2021.

+ Tim Cook- Harvard Business Ranking:
Tim Cook was ranked 62 in the Harvard Business Review's list of 100 Best-Performing CEO's in the world for 2019.



Tim Cook
CEO & Director
Tim Cook is the CEO of Apple and serves on its board of directors.
Before being named CEO in August 2011, Tim was Apple's chief operating officer and was responsible for all of the company's worldwide sales and operations, including end-to-end management of Apple's supply chain, sales activities, and service and support in all markets and countries. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.
Prior to joining Apple, Tim was vice president of Corporate Materials for Compaq and was responsible for procuring and managing all of Compaq's product inventory.
Previous to his work at Compaq, Tim was the chief operating officer of the Reseller Division at Intelligent Electronics.
Tim also spent 12 years with IBM, most recently as director of North American Fulfillment where he led manufacturing and distribution functions for IBM's Personal Computer Company in North and Latin America.
Tim earned an MBA from Duke University, where he was a Fuqua Scholar, and a Bachelor of Science degree in Industrial Engineering from Auburn University.

Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: August 24, 2011
In the last 10 years the average annualized return to shareholders was 21.9%. The present value of $1,000 (PV1000) invested 10 years ago is now $7,238, a gain of $6,014 and dividend reinvested of $224.

Harvard Business Ranking:
Tim Cook was ranked 62 in the Harvard Business Review's list of 100 Best-Performing CEO's in the world for 2019.
Bloomberg Pay Index Ranking:
Tim Cook was ranked 3 in the Bloomberg Pay Index list in the United States for 2021, an improvement from rank 8 in 2020. According to Bloomberg Pay Index, Tim Cook's total compensation had increased by (222.13%) $588.7 million from $265 million to $853.8 million in 2021.
Glassdoor Ranking:
Tim Cook was ranked 32 in the Glassdoor Employee Review's list of 100 Top CEOs in the United States for 2021.

Arthur D. Levinson
Chairman & Director
In September 2013, Art was named chief executive officer of Calico. Before that, he was chief executive officer of Genentech from July 1995 to April 2009. He currently serves as the chairman of the board of Apple, and previously served as a director of Google from 2004 to 2009.
He has authored or co-authored more than 80 scientific articles and has been named an inventor on 11 United States patents. Art was inducted into the Biotech Hall of Fame at the 2003 Biotech Meeting of chief executive officers. BusinessWeek named him one of the "Best Managers of the Year" in 2004 and 2005, and Institutional Investor named him "America's Best CEO" in the biotech category four years in a row (2004-2007). In 2006, Princeton University awarded Art the James Madison Medal for a distinguished career in scientific research and in biotechnology. In 2008, he was elected as a Fellow to the American Academy of Arts & Sciences. In 2011, Art received the American Association for Cancer Research Margaret Foti Award for Leadership and Extraordinary Achievements in Cancer Research, and in 2012 he received the Cold Spring Harbor Laboratory Double Helix Medal. In 2014, he received the Alumnus Summa Laude Dignatus Award from the University of Washington, and was honored as a recipient of the National Medal of Technology and Innovation by President Barack Obama. The Franklin Institute named Levinson as the recipient of the 2021 Bower Award for Business Leadership, which recognizes individuals who have demonstrated outstanding leadership in an American business or industry while adhering to the highest ethical standards.
Art earned a doctorate in biochemical sciences from Princeton University and his Bachelor of Science degree from the University of Washington.

Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: August 15, 2000
In the last 20 years the average annualized return to shareholders was 29.6%. The present value of $1,000 (PV1000) invested 20 years ago is now $180,139, a gain of $173,574 and dividend reinvested of $5,564.


Kevan Parekh
CFO & Senior Vice President
Kevan Parekh is Apple's senior vice president and chief financial officer, reporting to CEO Tim Cook. As CFO, Kevan oversees Apple's accounting, business support, financial planning and analysis, treasury, investor relations, internal audit, and tax functions.
Kevan joined Apple in 2013, and has played a key role in Apple's financial and business planning, and product development planning since then. Prior to becoming CFO, he served as Apple's vice president of Financial Planning and Analysis. Before that, he served as Apple's vice president of Worldwide Finance, supporting a number of different functions throughout his tenure, including Engineering, iTunes, Marketing, Retail, and Sales.
He has over 20 years of experience leading global finance teams at major companies. Before joining Apple, Kevan held a number of senior leadership roles at Thomson Reuters and General Motors, including working across Europe and Asia.
Kevan graduated with a Bachelor of Science in Electrical Engineering from the University of Michigan and earned an MBA from the University of Chicago.

Jeff Williams
Chief Operating Officer
Jeff Williams is Apple's chief operating officer reporting to CEO Tim Cook. He oversees Apple's entire worldwide operations, as well as customer service and support. He leads Apple's renowned design team and the software and hardware engineering for Apple Watch. Jeff also drives the company's health initiatives, pioneering new technologies and advancing medical research to empower people to better understand and manage their health and fitness.
Jeff played a key role in Apple's entry into the mobile phone market with the launch of iPhone, and since 2010 has led worldwide operations for all products. He also led the engineering development of Apple Watch. Jeff joined Apple in 1998 as head of Worldwide Procurement.
Prior to Apple, Jeff worked for the IBM Corporation from 1985 to 1998 in a number of operations and engineering roles. He holds a bachelor's degree in Mechanical Engineering from North Carolina State University and an MBA from Duke University.

Isabel Ge Mahe
Vice President
Isabel Ge Mahe is Apple's vice president and managing director of Greater China, reporting to CEO Tim Cook and COO Jeff Williams. Isabel provides leadership and coordination across Apple's China-based team.
Isabel joined Apple in 2008 as vice president of Wireless Technologies, overseeing the development of cellular, Wi-Fi, Bluetooth, NFC, location, and motion technologies for nearly every Apple product. She also played a key role in developing new China-specific features for iPhone and iPad.
Before joining Apple, Isabel served as vice president of Wireless Software Engineering at Palm and held key technical and managerial positions at other wireless companies.
Isabel holds a Bachelor of Applied Science and a Master of Engineering from Simon Fraser University in British Columbia and an MBA from the University of California, Berkeley.

Katherine Adams
Vice President
Katherine Adams is Apple's general counsel and senior vice president of Legal and Global Security, reporting to CEO Tim Cook. Kate serves on the company's executive team and oversees all legal matters, including corporate governance, intellectual property, litigation and securities compliance, global security, and privacy. Kate joined Apple from Honeywell in 2017, where she worked for 14 years, most recently as senior vice president and general counsel. At Honeywell, Kate was in charge of the organization's global legal strategy across more than 100 countries.
Prior to joining Honeywell, Kate was a partner at Sidley Austin LLP in New York. Earlier in her career, she served as a law clerk for Supreme Court Justice Sandra Day O'Connor; as trial attorney for the United States Department of Justice, Appellate Section, Environment and Natural Resources division; and as law clerk for Stephen Breyer, then chief judge of the U.S. Court of Appeals for the First Circuit.
Kate earned a bachelor's degree in Comparative Literature from Brown University and a law degree from the University of Chicago Law School.



Susan L. Wagner
Director
Wagner co-founded BlackRock in 1988 and helped it become one of the world's most successful asset-management companies, holding a range of leadership positions including vice chairman until mid-2012. She continues to serve on the boards of BlackRock and DSP BlackRock (India), as well as Swiss Re, Wellesley College and Hackley School.
Wagner graduated with honors from Wellesley College with a BA in English and Economics, and earned an MBA in Finance from the University of Chicago. She has been recognized as one of Fortune Magazine's 50 Most Powerful Women in Business and honored by the National Council for Research on Women. At BlackRock, she championed and continues to support the Women's Initiative Network, designed to foster the full potential of women within the company.

Ronald D. Sugar
Director
Dr. Sugar served as Chairman and Chief Executive Officer at Northrop Grumman Corporation from 2003 until his retirement in 2010. Previous to Northrop, he held executive positions at Litton Industries and TRW Inc., where he served as chief financial officer.
He is a member of the National Academy of Engineering and a fellow of both the American Institute of Aeronautics and Astronautics and the Royal Aeronautical Society. He is a director of Chevron Corporation, Amgen Inc. and Air Lease Corporation, and serves as a senior advisor to the private investment firm Ares Management LLC.
He is a trustee of the University of Southern California, where he also holds the Judge Widney Chair as Professor of Management and Technology. He is a member of the boards of UCLA Anderson School of Management, the Los Angeles Philharmonic Orchestra and several other philanthropic organizations focused on children and education.
He graduated summa cum laude in engineering in 1968 from the University of California, Los Angeles, where he also received master's and doctorate degrees in the same field. He subsequently completed executive programs at Stanford, Wharton and Harvard.

Shareholder Value:
Creation of shareholder value in Apple:
Date of appointment: November 17, 2010
In the last 10 years the average annualized return to shareholders was 21.9%. The present value of $1,000 (PV1000) invested 10 years ago is now $7,238, a gain of $6,014 and dividend reinvested of $224.


Alex Gorsky
Director
During Gorsky's tenure as CEO and chairman, Johnson & Johnson has become the world's largest healthcare company and one of the foremost innovators in research and development for emerging health technologies.
Gorsky began his tenure at Johnson & Johnson in 1988, accumulating a broad range of experience in sales, management, and marketing before becoming CEO in 2012. Gorsky has made innovation and technology key priorities, with groundbreaking investments that have helped shape the future of the pharmaceutical, medical device, and consumer health sectors.
An experienced leader in healthcare and business, Gorsky directs a global team of more than 130,000 at Johnson & Johnson. He is also a member of the Business Roundtable's board of directors and the chairman of its Corporate Governance committee. Gorsky serves on the boards of IBM, Travis Manion Foundation, and The Wharton School of the University of Pennsylvania.
As a former captain in the US Army, Gorsky has been a vocal advocate for improving mental health services for veterans and their families. He has also been a trailblazer for diversity and inclusion - helping Johnson & Johnson become a nationally recognized leader, and expanding parental paid leave and mentorship programs for employees across the company. Gorsky holds a Bachelor of Science from the US Military Academy at West Point, New York, and spent six years in the US Army, finishing his military career with the rank of captain. Gorsky also earned a Master of Business Administration from The Wharton School of the University of Pennsylvania in 1996.

Shareholder Value:
Creation of shareholder value in Apple:
Since appointment as Director: The present value of $1,000 invested on the appointment date of November 09, 2021 at close price of $148.02 is $1,386, including a capital gain of $358 and dividend reinvested of $28.

Wanda Austin
Director
Dr. Wanda Austin began her tenure at The Aerospace Corporation in 1979, when she joined as a member of the organization's technical staff. Over the following decades, she took on a wide range of new roles and responsibilities, including program management and major customer-facing systems management. From 2008 to 2016, she served as the organization's president and CEO.
From 2018 to 2019, Dr. Austin was the interim president of the University of Southern California. She serves on the board of Amgen, and also serves on the board of Chevron, where she is the lead independent director. She served on the board of Virgin Galactic, the spaceflight company, from 2019 until 2023.
Dr. Austin is also a leading advocate for STEM education. Her book, Making Space: Strategic Leadership for a Complex World, explores the leadership principles she learned during her decadeslong journey as an engineer and space industry executive.
Dr. Austin earned a bachelor's degree in mathematics from Franklin & Marshall College in 1975, and a master's in civil engineering and mathematics from the University of Pittsburgh in 1977. She went on to earn a Ph.D. in industrial and systems engineering from the University of Southern California in 1988.

Monica Lozano
Director
Lozano is a co-founder of the Aspen Institute Latinos and Society Program, and a former chair of both the University of California Board of Regents and the board of directors of the Weingart Foundation, a private philanthropic organization. Lozano is also a former board member of The Walt Disney Company.

Andrea Jung
Director
Andrea Jung is President and Chief Executive Officer of Grameen America, the fastest-growing microfinance organization in the United States. The former Chairman and Chief Executive Officer of Avon Products, Inc., and longtime champion of women's issues, Ms. Jung was appointed by Grameen's Founder and Nobel Peace Prize Laureate Muhammad Yunus to the position in April 2014. Founded in 2008, Grameen America is dedicated to helping women who live in poverty build small businesses to create better lives for their families. Since Grameen America's inception, the organization has invested over $5.2 billion to more than 220,000 low-income women across the United States through its unique social capital model.
Ms. Jung, the longest-serving female chief executive in the Fortune 500, is respected as a trailblazer for women. She served as CEO of Avon from 1999 through April 2012, and as Chairman from 2001 through December 2012. As Avon's first woman CEO and Chairman, Ms. Jung was also the first woman to serve as Chairman of the Cosmetic, Toiletry & Fragrance Association, and as Chairman of the World Federation of Direct Selling Associations. During her tenure at Avon, she was responsible for developing and expanding economic earnings opportunities for over six million women in more than 100 countries. She has been lauded globally for her pursuit of public-private partnerships to end violence against women and to stem the breast cancer epidemic. Under her leadership, the Avon Foundation for Women raised and awarded nearly $1 billion to support health and empowerment causes, becoming the largest women-focused corporate philanthropy around the world. Ms. Jung's efforts were recognized by the Clinton Global Initiative, which in 2010 honored her with the Clinton Global Citizen Award for her visionary leadership in solving pressing global challenges.
Throughout her corporate tenure, Ms. Jung ranked consistently among the top leaders on lists including Fortune's "Most Powerful Women in Business," Forbes' "Most Powerful Women in the World," and the Financial Times' "Top Women in World Business." Ms. Jung is a graduate of Princeton University. She is a member of the Board of Directors of Apple Inc., Unilever, Rockefeller Capital Management and Wayfair Inc. She previously served on the boards of General Electric and Daimler AG.

Name	Shares Held	Value, $
Tim Cook	3,409,693	685,348,293
Susan L. Wagner	1,255	252,255
Ronald D. Sugar	1,255	252,255
Alex Gorsky	1,255	252,255
Andrea Jung	1,255	252,255
Arthur D. Levinson	1,113	223,713
Total	3,415,826	686,581,026

Tim Cook now has a beneficial interest in 3,409,693 Apple shares worth $685.3 million.

Susan L. Wagner now has a beneficial interest in 1,255 Apple shares worth $252,255.

Ronald D. Sugar now has a beneficial interest in 1,255 Apple shares worth $252,255.

Alex Gorsky now has a beneficial interest in 1,255 Apple shares worth $252,255.

Andrea Jung now has a beneficial interest in 1,255 Apple shares worth $252,255.

Arthur D. Levinson now has a beneficial interest in 1,113 Apple shares worth $223,713.

Name	No. of Shares	Price, $	Value, $
Cook Timothy D [CEO]	447,972	224.5	100,552,709
Levinson Arthur D [Chairman]	275,000	217.6	59,833,000
COOK TIMOTHY D [CEO]	108,136	223.7	24,184,658
LEVINSON ARTHUR D [Chairman]	76,516	192.3	14,711,647
Total	907,624	219.6	199,282,014

Month	No. of Shares	Price, $	Value, $
Oct '24	447,972	224.46	100,552,709

COOK TIMOTHY D [CEO] REPORTED INSIDER SELLING; 10 YEARS (2015 - 2024)
In the 10-year period 2015 to 2024 a total of 5,602,409 shares worth $981.6 million were sold. In the past 10 years shares sold per year averaged 560,241.

Year	No. of Shares	Price, $	Value, $
2024	741,609	202.54	150,205,853
2023	537,210	171.74	92,257,920
2022	-	-	-
2021	2,386,440	148.58	354,568,479
2020	265,160	496.91	131,761,779
2019	265,160	206.17	54,667,179
2018	265,160	217.79	57,748,442
2017	407,194	147.52	60,067,334
2016	603,883	106.84	64,519,445
2015	130,593	120.87	15,785,125
Total	5,602,409	175.21	981,581,555

In the past year shares sold per month averaged 22,917.

Month	No. of Shares	Price, $	Value, $
Nov '24	200,000	227.32	45,464,500
June 03, 2024	75,000	191.58	14,368,500
Total: Levinson Arthur D	275,000	217.6	59,833,000

LEVINSON ARTHUR D [CHAIRMAN] REPORTED INSIDER SELLING; 10 YEARS (2015 - 2024)
In the 10-year period 2015 to 2024 a total of 850,334 shares worth $160.1 million were sold. In the past 10 years shares sold per year averaged 85,033.

Year	No. of Shares	Price, $	Value, $
2024	450,000	205.1	92,295,500
2023	-	-	-
2022	1,986	173.29	344,154
2021	3,416	135.6	463,210
2020	1,429	304.11	434,573
2019	108,915	225.4	24,549,911
2018	70,000	196.37	13,745,650
2017	72,580	154.74	11,231,314
2016	72,008	108.3	7,798,360
2015	70,000	131.47	9,202,900
Total	850,334	188.24	160,065,572

Month	No. of Shares	Price, $	Value, $
April 03, 2025	108,136	223.65	24,184,658

COOK TIMOTHY D [CEO] REPORTED INSIDER SELLING; 10 YEARS (2015 - 2024)
In the 10-year period 2015 to 2024 a total of 5,602,409 shares worth $981.6 million were sold. In the past 10 years shares sold per year averaged 560,241.

Year	No. of Shares	Price, $	Value, $
2024	741,609	202.54	150,205,853
2023	537,210	171.74	92,257,920
2022	-	-	-
2021	2,386,440	148.58	354,568,479
2020	265,160	496.91	131,761,779
2019	265,160	206.17	54,667,179
2018	265,160	217.79	57,748,442
2017	407,194	147.52	60,067,334
2016	603,883	106.84	64,519,445
2015	130,593	120.87	15,785,125
Total	5,602,409	175.21	981,581,555

In the past year shares sold per month averaged 6,376.

Month	No. of Shares	Price, $	Value, $
February 04, 2025	1,516	226.35	343,147
June 03, 2024	75,000	191.58	14,368,500
Total: LEVINSON ARTHUR D	76,516	192.3	14,711,647

LEVINSON ARTHUR D [CHAIRMAN] REPORTED INSIDER SELLING; 10 YEARS (2015 - 2024)
In the 10-year period 2015 to 2024 a total of 850,334 shares worth $160.1 million were sold. In the past 10 years shares sold per year averaged 85,033.

Year	No. of Shares	Price, $	Value, $
2024	450,000	205.1	92,295,500
2023	-	-	-
2022	1,986	173.29	344,154
2021	3,416	135.6	463,210
2020	1,429	304.11	434,573
2019	108,915	225.4	24,549,911
2018	70,000	196.37	13,745,650
2017	72,580	154.74	11,231,314
2016	72,008	108.3	7,798,360
2015	70,000	131.47	9,202,900
Total	850,334	188.24	160,065,572

In its FAANG Peer Group of 5 companies (Facebook, Apple, Amazon, Netflix and Alphabet's Google) AAPL is ranked AAPL is ranked first (1) by MCap, second (2) by Revenue, Net Profit, third (3) by Total Assets and fourth (4) by PV$1000.

Name (Code)	MCap	PV $1000 (1 yr)	Revenue	Net Profit	Total Assets
Rank of AAPL	1	4	2	2	3
Apple (AAPL)	3,002.9B	967.5	391B	93.7B	365B
Amazon (AMZN)	2,225.9B	1,126.2	638B	59.2B	527.9B
Meta Platforms (META)	1,726.2B	1,368.2	134.9B	39.1B	229.6B
Alphabet Class A (GOOGL)	970.3B	953.7	350B	100.1B	450.3B
Netflix (NFLX)	526.7B	1,813.5	39B	8.7B	53.6B

FAANG PEER COMPARISON: AAPL - VALUATION INDICATORS

In value terms, comparing relative value of its shares, AAPL is ranked

+ 2 out of 5 by Price/Earnings per share [32.7]
+ 3 out of 5 by Price/Sales per share [7.6]
+ 4 out of 5 by Turnover Rate (%) [100.2]

Name (Code)	Last Price	P/E	P/S	P/Book	Turnover Rate (%)
Rank of AAPL by value		2	3		4
Apple (AAPL)	$201.0	32.7	7.6		100.2
Amazon (AMZN)	$209.59	37.0	3.5	12.4	95.3
Meta Platforms (META)	$682.30	45.0	12.8	14.6	121.0
Alphabet Class A (GOOGL)	$166.71	20.8	2.8	3.4	131.1
Netflix (NFLX)	$1,231.41	60.8	13.5	21.3	161.8

Apple vs NASDAQ Market

Out of 2,893 stocks and 2 units in the NASDAQ Market, Apple is ranked second(2) by Net Profit $, second(2) by Revenue, sixth(6) by Total Assets and sixth(6) by ROE.

	NASDAQ Avg	AAPL	AAPL Rank
Net Profit $	-	93.7 B	2
Revenue $	-	391 B	2
Total Assets $	-	365 B	6
ROE (%)	12.1	164.6	6
ROA (%)	5.1	25.7	31
EBITDA Margin%	15.7	31.6	134
P/Earnings	41.04x	32.9x	156
P/Sales	4.4x	7.7x	192
Premium to 52-Wk Low (%)	30.9	18.9	627
Yield (%)	0.7	0.5	656
Total Debt/Equity (the lower the better)	0.5x	0.2x	998
Discount to 52-Wk High (%)	4.5	22.5	1905

Negative values are shown in brackets.



Apple has a position of market dominance in the Technology sector.
Apple vs Technology sector [Technology sector Total in Brackets]
Revenue of $391 billion[67.7% of aggregate sector revenue of $726.6 billion; down from 67.7% in the previous year.]

Description	Value	Global Rank	In Am Region
Total Assets ($)	365B	230	95
Revenue ($)	391B	25	5
Net Profit ($)	93.7B	13	4
Return on Equity %	164.6	103	43
Net Profit Margin %	24.0	4,890	851
Price to Book	62.1	34,984	5,138
Price/Earnings	38.5	19,453	2,772
Yield %	0.4	19,038	3,241
PV1000 (1Year) $	968	26,736	4,729
$ Change (1Year) %	39.1	6,696	1,121

Description	Value	In NASDAQ-100 Index	In NASDAQ Market	In Technology sector
Total Assets ($)	365B	5	5	1
Revenue ($)	391B	2	2	1
Net Profit ($)	93.7B	2	2	1
Return on Equity %	164.6	2	4	1
Net Profit Margin %	24.0	22	144	10
Price/Earnings	32.9	43	764	31
Yield %	0.5	44	672	18
PV1000 (1Year) $	968	56	300	24

Apple is ranked number 1 out of 262 listed technology companies in the United States with a market capitalization of $3,002.9 billion.
Within its sector it has a relatively low P/E of 32.9.

Stocks are scored on a set of parameters reflecting fundamental analytical tools involving valuation, size and financial performance. They are ranked according to the average values of those parameters. The highest ranking is 5 and the lowest ranking is 1.

As at March 31, 2025 institutions had decreased their holdings to 53.1% of issued capital, down from 62.4% nine months ago.

Quarter - ended	Mar 31	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
% of issued capital	53.1	62.9	60.6	62.4

As at March 31, 2025, 5006 Institutions (Funds) held investments in shares of Apple. Institutions decreased their holdings to 53.1% of issued capital, down from 62.9% as at Dec 31. The largest shareholder was Vanguard Group Inc. with 9% of Apple. The second largest shareholder was Blackrock Inc. with 8%.

*Note: Minimum Core Shareholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of shareholding above the minimum core holding may be indicative of a potential positioning by an active institution to overweight.

Apple Top 4 Active Funds (in desc order of Shares) hold 21.4% [second last column shows % above minimum core shareholding; last column shows percentile rank by AUM (Assets Under Management) among 7881 Funds]. Please download the spreadsheet to view full list of 2071 Active Funds holding 38.9% of Apple as at March 31, 2025.

Fund	Shares	% of Total	Value $
Vanguard Group Inc. (0000102909)	1,400,790,809	9	311.3 B
Blackrock Inc. (0002012383)	1,140,202,870	8	253.4 B
Geode Capital Management, LLC (0001214717)	349,807,156	2	77.7 B
FMR LLC (0000315066)	328,100,180	2	72.9 B
% Held by Top 4 Institutional shareholders	3,218,901,015	21.4	715.2 B

Fund	% above Core*	Percentile rank
Vanguard Group Inc. (0000102909)	10	100
Blackrock Inc. (0002012383)	12	100
Geode Capital Management, LLC (0001214717)	26	100
FMR LLC (0000315066)	14	100

Apple Top Index Fund (in desc order of Shares) is ranked 1 by Shares held in AAPL holds 2.0% [second last column shows % above minimum core shareholding; last column shows percentile rank by AUM (Assets Under Management) among 7881 Funds]. Please download the spreadsheet to view full list of 2936 Index Funds holding 13.2% of Apple as at March 31, 2025.

Fund	Shares	% of Total	Value $
Berkshire Hathaway Inc. (0001067983)	300,000,000	2	66.7 B
% Held by Top 1 Institutional shareholders	300,000,000	2.0	66.7 B

Fund	% above Core*	Percentile rank
Berkshire Hathaway Inc. (0001067983)	-	100

Value is shown in the table below at March 31 AAPL share price of $222.20.

Institution (CIK)	Shares	Value, $	% increase
Eisler Capital Management Ltd. (0002055810)	179,225	41.5 M	17,922,500.0
PEAK6 LLC (0001389958)	28,320	6.6 M	944,000.0
NBC SECURITIES (0000791540)	135,636	31.4 M	97,579.9
Quest Partners LLC (0001883897)	2,240	518,238	37,333.3
FIDUCIARY FAMILY OFFICE, LLC (0002020280)	443,327	102.6 M	21,604.6
Total	788,748	182.5 million	-

Top 5 Increases by worth [March 31, 2025 vs December 31, 2024]
Value is shown in the table below at March 31 AAPL share price of $222.20.

Institution (CIK)	Shares	Worth Change, $
Blackrock Inc. (0002012383)	16,785,263	3.9 B
JP Morgan Chase & Co (0000019617)	15,737,447	3.6 B
Amundi (0001330387)	14,651,321	3.4 B
Geode Capital Management, LLC (0001214717)	9,642,243	2.2 B
Citigroup Inc. (0000831001)	9,383,005	2.2 B
Total	66,199,279	15.3 billion

2806 Institutional shareholders decreased their holdings in Q1/2025. The top decrease was Gladstone Capital Management who reduced their shareholding in Apple by 712,037 shares (99.9%) from 713,037 as at December 31 to 1,000 as at March 31.

Top 5 Decreases [March 31, 2025 vs December 31, 2024]

Value is shown in the table below at March 31 AAPL share price of $222.20.

Institution (CIK)	Shares	Value, $	% Decreases
Gladstone Capital Management LLP (0001353394)	712,037	(164.7 M)	-99.9
Renaissance Technologies LLC (0001037389)	2,463,237	(569.9 M)	-99.8
Vista Cima Wealth Management LLC (0002055907)	22,619	(5.2 M)	-99.8
CURIO WEALTH, LLC (0002049201)	5,188	(1.2 M)	-99.7
Proficio Capital Partners LLC (0001654175)	20,945,084	(4.8 B)	-99.5
Total	24,148,165	(5.6 billion)	-

Value is shown at price of March 31, 2025 (in desc order of Shares)
Value is shown in the table below at March 31 AAPL share price of $222.20.

Institution (CIK)	Shares	Value, $
Intermede Investment Partners Ltd (0001664713)	1,064,225	236.5 M
MKP Capital Management, LLC (0001534949)	425,000	94.4 M
ADVENTIST HEALTH SYSTEM SUNBELT HEALTHCARE CORP (0001103139)	425,000	94.4 M
Canada Post Corp Registered Pension Plan (0001991835)	361,039	80.2 M
ADAPT Investment Managers SA (0002029917)	256,892	57.1 M
Total	2,532,156	562.6 million

An analysis conducted after the mid - quarter deadline of May 18 for 20251 SEC filings by 7147 institutions shows that there were 5 exits. Norges Bank was the largest exit with 187,160,162 shares valued at 46.8 B as at March 31.

Institution (CIK)	Shares	Value, $
Norges Bank (0001374170)	187,160,162	46.8 B
Nuveen Asset Management, LLC (0001521019)	80,181,514	20 B
Swedbank AB (0000946431)	18,725,882	4.7 B
ACTIAM N.V. (0001619124)	3,839,577	959.2 M
DSM Capital Partners LLC (0001214639)	1,656,917	413.9 M
Total	291,564,052	72.8 billion

Please view detailed Institutional Shareholders - Categorised and Complete List in DATA & ARCHIVE DOWNLOAD CENTER

A total of 35,906 patents were issued to Apple in the last eleven years. In the past year 4,284 patents were issued, 1.3 times average of 3,264 patents per year.

12 months ended Jun 20	No. of Patents Issued
2025	4,284
2024	8,051
2023	4,937
2022	3,003
2021	3,402
2020	3,111
2019	2,615
2018	2,570
2017	2,117
2016	1,469
2015	347
Total	35,906

Apple is ranked 2 by patents issued in the past year out of 3,730 NASDAQ listed companies. A total of 97,073 patents were issued to NASDAQ listed companies in the past year, an average of 82.5 patents per company. Apple received 7,773 patents in the past 12 months, 299 times average.

ADVT: Average Daily Volume of shares Traded
Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Current Ratio: Current Assets/Current Liabilities (times)
Debt/Equity: Net Debt/Net Assets %
Dividend Yield: Dividend Per Share/Share Price (%)
EBIT Margin : Earnings Before Interest and Tax/Revenue (%)
Earnings Yield: Earnings Per Share/Share Price (%)
Income during the n years (3/2/1): Dividends received during the Period
Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods
PCP: Previous Corresponding Period
PV1000: Present value of 1000 invested 1 year/'n' years ago
Price Close/Moving Avg Price: Latest Price/Moving Average Price
Price/Earnings: Share Price/Earnings Per Share (times)
Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)
Price/Sales: Share Price/Sales Per Share (times)
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend
TTM: Trailing 12 Months
Turnover Rate: value of annual trading volume as a percentage of market capitalisation
Volatility: Highest Price minus Lowest Price/Lowest Price (%)
Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.

Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.

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