Apple 1Q24 10-Q Takeaways, Apple Balance Sheet Observations

Today’s update will wrap up Neil’s 1Q24 earnings preview. We will examine Apple’s 1Q24 10-Q filing and the latest balance sheet trends. Here’s what we have covered so far on the Apple earnings front:

  • Feb 2nd: Big picture takeaway, Apple’s 1Q24 numbers (vs. my expectations), 2Q24 guidance.

  • Feb 5th: Looking through 1Q24 numbers to examine Apple’s ecosystem growth.

  • Feb 6th: Analyzing Apple’s earnings call with analysts.

  • Today: Examining the 10-Q and balance sheet developments.

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Apple 2022 10-K Takeaways (Daily Update)

Today's Above Avalon daily update includes Neil’s key takeaways from Apple's annual 10-K filing for 2022. The update covers 19 Apple financial topics.

Hello everyone.

We conclude our Apple 4Q22 earnings review with Apple’s 10-K filing for FY2022. Published at the end of the fiscal year (Apple's fiscal year ends in September), 10-K filings include a more in-depth examination into Apple’s financials and business versus the 10-Q filings published at the end of 1Q, 2Q, and 3Q.

Apple 2022 10-K Takeaways

Share Buyback. Here is quarterly data from the past three years for Apple's share buyback via open market transactions:

  • 4Q19: $17.9B. Average repurchase price per share: $52.20.

  • 1Q20: $10.0B. Average repurchase price per share: $62.55.

  • 2Q20: $18.5B. Average repurchase price per share: $71.67.

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Above Avalon Membership

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