15 unchanged sentences
Open market and privately negotiated purchases 28,986 $ 224.25 28,986
−Removed: September 1, 2024 to September 28, 2024:
+Added: August 31, 2025 to September 27, 2025:
Open market and privately negotiated purchases 27,247 $ 238.56 27,247
Total 89,498 $ 99,779
−Removed: (1) As of September 28, 2024, the Company was authorized by the Board to purchase up to $110 billion of the Company’s common stock under a share repurchase program announced on May 2, 2024, of which $20.9 billion had been utilized.
−Removed: During the fourth quarter of 2024, the Company also utilized the final $4.1 billion under its previous repurchase program, which was authorized in May 2023.
+Added: (1) On May 2, 2024, the Company announced a program to repurchase up to $110 billion of the Company’s common stock.
+Added: During the fourth quarter of 2025, the Company utilized the final $19.8 billion under the May 2024 program.
+Added: On May 1, 2025, the Company announced an additional program to repurchase up to $100 billion of the Company’s common stock.
+Added: As of September 27, 2025, $221 million of the May 2025 program had been utilized.
The programs do not obligate the Company to acquire a minimum amount of shares.
3 unchanged sentences
The following graph shows a comparison of five-year cumulative total shareholder return, calculated on a dividend-reinvested basis, for the Company, the S&P 500 Index and the Dow Jones U.S.
−Removed: Technology Supersector Index.
+Added: Technology Total Stock Market Index.
The graph assumes $100 was invested in each of the Company’s common stock, the S&P 500 Index and the Dow Jones U.S.
−Removed: Technology Supersector Index as of the market close on September 27, 2019.
+Added: Technology Total Stock Market Index as of the market close on September 25, 2020.
Past stock price performance is not necessarily indicative of future stock price performance.
3 unchanged sentences
Dow Jones U.S.
−Removed: Technology Supersector Index $ 100 $ 146 $ 216 $ 156 $ 215 $ 322
+Added: Technology Total Stock Market Index
+Added: $ 100 $ 147 $ 107 $ 147 $ 220 $ 287
| 2025 Form 10-K | 20
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.