Thoughts Heading Into Apple’s 3Q25 Earnings Release
Hello everyone. Apple reports earnings on Thursday. For today's update, we will begin to prepare for the earnings release.
Thoughts Heading Into Apple’s 3Q25 Earnings Release
As we will discuss in greater detail tomorrow, Apple’s 3Q25 results should be relatively fine. Revenue growth will likely be close to 2Q25 levels while margins may get dinged a little bit by tariffs. And yet, the numbers themselves probably won’t matter a whole lot. Instead, Apple finds itself stuck in mud on Wall Street. A growing list of headwinds have contributed to Apple shares experiencing some of their worst underperformance relative to peers and the market in recent memory.
While every other Big Tech company has moved notably higher from the tariff-induced lows of early April, Apple has barely participated.
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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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