Apple reports second quarter results
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, those regarding the Company’s expectations regarding the impact of the COVID-19 pandemic ; anticipated income, gross margin, operating expenses, other income / (expenses) and tax rate; capital repayment plans; our goal of maintaining a neutral net cash position; and our investment plans and environmental initiatives. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by forward-looking statements. Risks and uncertainties include, but are not limited to: the effect of the COVID-19 pandemic on the business, results of operations, financial condition and share price of the Company; the effect of global and regional economic conditions on the Company’s business, including the effects on the purchasing decisions of consumers and businesses; the Company’s ability to compete in highly competitive markets subject to rapid technological change; the Company’s ability to manage frequent product and service introductions and transitions, including delivering to market and stimulating customer demand for new products, services and technological innovations in a timely manner; the effect that changes in the combination of products and services and in the geographic, currency or channel combination, increases in component costs, increases in the cost of acquiring and delivering content for the Company’s services, price competition or the introduction of new services, including new products or services with higher cost structures, could have on the gross margin of the Company; the Company’s dependence on the performance of the distributors of the Company’s products, including cellular network operators and other resellers; the risk of depreciation of the value of inventories and other assets and the risk of cancellation of purchase commitments; the continued availability on acceptable terms, or not at all, of certain components, services and new technologies essential to the Company’s business, including those components and technologies that may only be available from single or limited sources; the Company’s reliance on manufacturing and logistics services provided by third parties, many of which are located outside of the United States and which may affect the quality, quantity or cost of products manufactured or services rendered to the society ; the effect of design and manufacturing defects in products and services on the financial performance and reputation of the Company; the Company’s reliance on third party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all; the Company’s reliance on assistance from third party software developers to develop and maintain software applications and services for the Company’s products; the impact of adverse legal proceedings or government investigations; the impact of complex and changing laws and regulations around the world, which expose the Company to potential liabilities, increased costs and other adverse effects on the Company’s business; the Company’s ability to manage the risks associated with the Company’s retail stores; the Company’s ability to manage the risks associated with the Company’s investments in new business strategies and acquisitions; the impact on the Company’s business and reputation of failures in computer systems, network interruptions, loss of or unauthorized access to or dissemination of confidential information; the Company’s ability to comply with data protection laws and regulations; the continuous service and availability of key officers and employees; political events, international trade disputes, war, terrorism, natural disasters, public health issues and other business disruptions that could disrupt the supply, delivery or demand for the Company’s products; financial risks, including risks related to currency fluctuations, credit risks and fluctuations in the market value of the Company’s investment portfolio; and changes in tax rates and exposure to additional tax obligations. Further information on these risks and other potential factors that could affect the business and financial results of the Company is included in the documents filed by the Company with the SEC, including in the sections “Risk Factors” and “Management’s Discussion and Analysis of the Financial Position and Results of Operations” of the latest periodic reports filed by the Company on Forms 10-K and 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which relate to their respective dates.