What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2022-10-28 compared with 2021-10-29 · 31 added, 42 removed, 77 unchanged (49% of the section changed)

3 unchanged sentences

iPhone ® is the Company’s line of smartphones based on its iOS operating system.

In October and November 2020, the Company released iPhone 12, iPhone 12 mini, iPhone 12 Pro and iPhone 12 Pro Max, all with 5G technology.

In September 2021, the Company released iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max.

The iPhone line includes iPhone 14 Pro, iPhone 14, iPhone 13, iPhone SE ® , iPhone 12 and iPhone 11.

Mac ® is the Company’s line of personal computers based on its macOS ® operating system.

In November 2020, the Company released new versions of MacBook Air ® , 13-inch MacBook Pro ® and Mac mini ® , and in May 2021, the Company released a redesigned iMac ® , all powered by the Apple M1 chip.

In October 2021, the Company released a redesigned MacBook Pro, available in 14- and 16-inch models and powered by the Apple M1 Pro or M1 Max chip.

The Mac line includes laptops MacBook Air ® and MacBook Pro ® , as well as desktops iMac ® , Mac mini ® , Mac Studio™ and Mac Pro ® .

iPad ® is the Company’s line of multipurpose tablets based on its iPadOS ® operating system.

In October 2020, the Company released a new iPad Air ® , and in April 2021, the Company released a new iPad Pro ® powered by the Apple M1 chip.

In September 2021, the Company released an updated iPad and a new iPad mini ® .

The iPad line includes iPad Pro ® , iPad Air ® , iPad and iPad mini ® .

Wearables, Home and Accessories

Wearables, Home and Accessories includes AirPods ® , Apple TV ® , Apple Watch ® , Beats ® products, HomePod ® , iPod touch ® and accessories.

AirPods are the Company’s wireless headphones that interact with Siri ® .

In December 2020, the Company released AirPods Max™, new over-ear wireless headphones, and in October 2021, the Company released the third generation of AirPods.

Apple Watch is the Company’s line of smart watches based on its watchOS ® operating system.

In September 2021, the Company announced Apple Watch Series 7, which was available starting in October 2021.

Wearables, Home and Accessories includes:

• AirPods ® , the Company’s wireless headphones, including AirPods, AirPods Pro ® and AirPods Max™;

• Apple TV ® , the Company’s media streaming and gaming device based on its tvOS ® operating system, including Apple TV 4K and Apple TV HD;

• Apple Watch ® , the Company’s line of smartwatches based on its watchOS ® operating system, including Apple Watch Ultra™, Apple Watch Series 8 and Apple Watch SE ® ;

• Beats ® products, HomePod mini ® and accessories.

| 2022 Form 10-K | 1

7 unchanged sentences

The Company also offers digital content through subscription-based services, including Apple Arcade ® , a game subscription service;

Apple Fitness+ SM , a personalized fitness service;

Apple Music ® , which offers users a curated listening experience with on-demand radio stations;

Apple News+ ® , a subscription news and magazine service;

and Apple TV+ SM , which offers exclusive original content.

During 2021, the Company released Apple Fitness+ SM , a personalized fitness service.

and Apple TV+ ® , which offers exclusive original content and live sports.

Payment Services

33 unchanged sentences

The Company currently holds a broad collection of intellectual property rights relating to certain aspects of its hardware devices, accessories, software and services.

This includes patents, copyrights, trademarks, service marks, trade dress and other forms of intellectual property rights in the U.S.

This includes patents, designs, copyrights, trademarks and other forms of intellectual property rights in the U.S.

and various foreign countries.

Although the Company believes the ownership of such intellectual property rights is an important factor in its business and that its success does depend in part on such ownership, the Company relies primarily on the innovative skills, technical competence and marketing abilities of its personnel.

The Company regularly files patent applications to protect innovations arising from its research, development and design, and is currently pursuing thousands of patent applications around the world.

Over time, the Company has accumulated a large portfolio of issued patents, including utility patents, design patents and others.

The Company also holds copyrights relating to certain aspects of its products and services.

No single intellectual property right is solely responsible for protecting the Company’s products.

The Company believes the duration of its intellectual property rights is adequate relative to the expected lives of its products.

Although the Company believes the ownership of such intellectual property rights is an important factor in differentiating its business and that its success does depend in part on such ownership, the Company relies primarily on the innovative skills, technical competence and marketing abilities of its personnel.

The Company regularly files patent, design, copyright and trademark applications to protect innovations arising from its research, development, design and marketing, and is currently pursuing thousands of applications around the world.

Over time, the Company has accumulated a large portfolio of issued and registered intellectual property rights around the world.

No single intellectual property right is solely responsible for protecting the Company’s products and services.

The Company believes the duration of its intellectual property rights is adequate relative to the expected lives of its products and services.

In addition to Company-owned intellectual property, many of the Company’s products and services are designed to include intellectual property owned by third parties.

8 unchanged sentences

Human Capital

The Company believes it has a talented, motivated, and dedicated team, and is committed to supporting the development of all of its team members and to continuously building on its strong culture.

The Company believes it has a talented, motivated and dedicated team, and works to create an inclusive, safe and supportive environment for all of its team members.

As of September 24, 2022, the Company had approximately 164,000 full-time equivalent employees.

Workplace Practices and Policies

The Company is committed to providing a workplace free of harassment or discrimination based on race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, caste or other legally protected characteristic.

The Company is an equal opportunity employer committed to inclusion and diversity.

The Company is an equal opportunity employer committed to inclusion and diversity and to providing a workplace free of harassment or discrimination.

Compensation and Benefits

The Company believes that compensation should not only be competitive;

it should be equitable and should enable employees to share in the Company’s success as shareholders of the Company.

The Company believes that compensation should be competitive and equitable, and should enable employees to share in the Company’s success.

The Company recognizes its people are most likely to thrive when they have the resources to meet their needs and the time and support to succeed in their professional and personal lives.

In support of this, the Company offers a wide variety of benefits to employees around the world.

Growth and Development

The Company invests in tools and resources that support employees’ individual growth and development.

The Company also provides classes and seminars to foster understanding and critical thinking about the Company’s culture, organization and values.

In support of this, the Company offers a wide variety of benefits for employees around the world and invests in tools and resources that are designed to support employees’ individual growth and development.

Inclusion and Diversity

The Company is committed to hiring inclusively, providing training and development opportunities, fostering an inclusive culture, and ensuring equitable pay for employees, and is continuing to focus on increasing diverse representation at every level of the Company.

The Company has initiatives in place to implement its commitment to increase diverse representation, including creating diverse interview panels and candidate slates, focusing on robust diversity recruiting efforts, and expanding diversity outreach efforts through organizations that serve and engage talent from underrepresented communities.

The Company also offers team members access to ongoing inclusion and diversity education, and support throughout their career journey and helps them find community and connection through employee groups that create spaces for belonging, learning, and growing inclusivity, diversity and equity efforts.

The Company believes that open and honest communication among team members, managers and leadership fosters an open, collaborative work environment where everyone can participate, develop and thrive.

Team members are encouraged to come to their managers with questions, feedback or concerns, and the Company regularly conducts surveys that gauge employee sentiment in areas like career development, manager performance and inclusivity.

The Company remains committed to its vision to build and sustain a more inclusive workforce that is representative of the communities it serves.

The Company continues to work to increase diverse representation at every level, foster an inclusive culture, and support equitable pay and access to opportunity for all employees.

The Company believes that open and honest communication among team members, managers and leaders helps create an open, collaborative work environment where everyone can contribute, grow and succeed.

Team members are encouraged to come to their managers with questions, feedback or concerns, and the Company conducts surveys that gauge employee sentiment in areas like career development, manager performance and inclusivity.

Health and Safety

The Company is committed to protecting its employees everywhere it operates.

The Company identifies potential risks associated with workplace activities in order to develop measures to mitigate possible hazards.

The Company supports employees with general safety training and puts specific programs in place for those working in potentially high-hazard environments, including chemical management, laser safety, equipment and machinery safety, hazardous materials management and electrical safety.

The Company has taken additional measures during the COVID-19 pandemic, including providing information resources, testing, face masks and personal protective equipment, and case support.

The Company also offers special sick leave for employees with possible COVID-19 symptoms, as well as comprehensive health coverage.

| 2021 Form 10-K | 4

The Company is committed to protecting its team members everywhere it operates.

The Company identifies potential workplace risks in order to develop measures to mitigate possible hazards.

The Company supports employees with general safety, security and crisis management training, and by putting specific programs in place for those working in potentially high-hazard environments.

Additionally, the Company works to protect the safety and security of its team members, visitors and customers through its global security team.

The Company has also taken additional health and safety measures during the COVID-19 pandemic.

Available Information

2 unchanged sentences

Such reports and other information filed by the Company with the SEC are available free of charge at investor.apple.com/investor-relations/sec-filings/default.aspx when such reports are available on the SEC’s website.

The Company periodically provides other information for investors on its corporate website, www.apple.com, and its investor relations website, investor.apple.com.

This includes press releases and other information about financial performance, information on environmental, social and corporate governance and details related to the Company’s annual meeting of shareholders.

The Company periodically provides certain information for investors on its corporate website, www.apple.com, and its investor relations website, investor.apple.com.

This includes press releases and other information about financial performance, information on environmental, social and governance matters, and details related to the Company’s annual meeting of shareholders.

The information contained on the websites referenced in this Form 10-K is not incorporated by reference into this filing.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business