Hello everyone. Monday’s update concluded our review of Apple’s 4Q26 earnings release and conference call.
Given Apple’s fiscal year reporting, the company’s 10-K is released after the September quarter. Compared to 10-Q filings published at the end of 1Q, 2Q, and 3Q, 10-K filings include a more in-depth examination into Apple’s financials and business that goes beyond any one quarter. In today's update, we will examine eight broader topics / subjects found within Apple's 2026 10-K.
Let's jump in.
Apple’s 2026 10-K: Eight Things That Jump Out
1) Capital Return
Share Buyback. Here is quarterly data from the past three years for Apple's share buyback via open market transactions:
4Q23: $15.5B. Average repurchase price per share: $183.41.
1Q24: $20.5B. Average repurchase price per share: $183.77.
2Q24: $23.5B. Average repurchase price per share: $180.37.
3Q24: $26.0B. Average repurchase price per share: $187.36.
4Q24: $25.0B. Average repurchase price per share: $222.70.
1Q25: $23.3B. Average repurchase price per share: $233.00.
2Q25: $25.0B. Average repurchase price per share: $231.23.
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