AAPL · Apple Inc.
10-Q filed 2026-05-01 period 2026-03-28
89 Strong
confidence high · source filing on SEC.gov ↗
- Revenue grew 17% YoY to $111.18B in Q2 2026, driven by a 22% increase in iPhone sales and 16% growth in Services.
- The Board authorized an additional $100B share repurchase program and raised the quarterly dividend to $0.27 per share.
- Regulatory risks remain elevated with a €500M EU fine under appeal and ongoing DMA and DOJ antitrust investigations.
Filing Health Score pillars
Profitability 25%
95
Revenue grew 17% YoY to $111.18B in Q2 2026, with gross margin expanding to 49.3% from 47.1% and operating income growing 21.3% to $35.89B, demonstrating strong operating leverage (Item 2 - MD&A - Gross Margin / Operating Expenses).
Balance sheet 20%
90
Total cash and marketable securities of $146.60B comfortably exceed total debt of $84.71B, while the share count continues to decline due to ongoing repurchases, though the current ratio is relatively tight at 1.07 (Item 1 - Financial Statements - Balance Sheets).
Cash generation 20%
98
Six-month operating cash flow of $82.63B exceeds net income of $71.68B, and free cash flow reached $78.29B (30.7% margin) with very low capex intensity of 1.7% of revenue (Item 1 - Financial Statements - Statements of Cash Flows).
Risk flags 20%
75
While there are no going-concern issues, the company faces significant regulatory and litigation risks, including a €500M EU fine, ongoing DMA investigations with potential 10% global revenue fines, and a DOJ antitrust lawsuit (Item 1 - Legal Proceedings).
Mgmt signal 15%
85
Management signals strong confidence via a new $100B share repurchase authorization and a dividend increase, alongside robust segment momentum (Greater China up 28%), despite warning of intensifying component cost pressures (Item 2 - MD&A - Macroeconomic Conditions / Capital Return Program).
Key metrics (Three Months Ended March 28, 2026)
period: Three Months Ended March 28, 2026
total debt: $84,711 million
net income: $29,578 million
shares outstanding: 14,667,688 thousand
cash and equivalents: $45,572 million
revenue: $111,184 million
operating cash flow: $82,627 million (Six Months Ended March 28, 2026)
Gemma triage notes (pre-analysis, second opinion)
None for this filing.Automated research summaries derived from SEC filings. Not investment advice.