iPhone net sales increased by 2% and Mac net sales increased by 7% compared to the same period last year, indicating successful product updates and market penetration. These products continue to be key revenue drivers for the company.

iPad net sales increased by 15% compared to the same period last year, driven by higher net sales of iPad Air. This suggests a successful product refresh and increased demand for Apple's tablet offerings.

Wearables, Home and Accessories net sales decreased by 5% compared to the same period last year, due primarily to lower net sales of Wearables. This could indicate increased competition or changing consumer preferences in this product category.

The company repurchased 108.12 million shares for $48.3 billion during the six months ended March 29, 2025. This demonstrates management's confidence in the company's future and commitment to returning capital to shareholders.

The Board of Directors raised the Company's quarterly cash dividend from $0.25 to $0.26 per share, beginning with the dividend to be paid during the third quarter of 2025. This indicates a commitment to returning value to shareholders.

Research and development expenses increased due to increases in headcount-related expenses and infrastructure-related costs. Selling, general and administrative expense increased due to increases in professional services and headcount-related expenses. This suggests increased investment in future growth.

The company acknowledges that restrictions on international trade, such as tariffs, can materially adversely affect the company's business and supply chain. The company is monitoring the impact of trade disputes and implementing mitigation strategies.

The company acknowledges that political events, trade disputes, geopolitical tensions, conflict, terrorism, natural disasters, public health issues, industrial accidents and other business interruptions can have a material adverse effect on the company and its customers, employees, suppliers, contract manufacturers, logistics providers, distributors, cellular network carriers and other channel partners.

The company acknowledges that various stakeholders, including governments, regulators, investors, employees, customers and others, have differing expectations about a wide range of social and other issues related to the Company's business.

iPhone net sales increased during the second quarter of 2025 compared to the second quarter of 2024 due primarily to higher net sales of Pro models. Year-over-year iPhone net sales were relatively flat during the first six months of 2025.

Services net sales increased during the second quarter and first six months of 2025 compared to the same periods in 2024 due primarily to higher net sales from advertising, the App Store® and cloud services.

Wearables, Home and Accessories net sales decreased during the second quarter and first six months of 2025 compared to the same periods in 2024 due primarily to lower net sales of Wearables.

The total gross margin percentage increased from 46.6% to 47.1% for the three months ended March 29, 2025. This improvement suggests better cost management or favorable product mix.

Products gross margin percentage decreased during the second quarter and first six months of 2025 compared to the same periods in 2024 due primarily to a different mix of products and weakness in foreign currencies relative to the U.S. dollar, partially offset by favorable costs.

Services gross margin percentage increased during the second quarter and first six months of 2025 compared to the same periods in 2024 due primarily to a different mix of services, partially offset by higher Services costs and weakness in foreign currencies relative to the U.S. dollar.

Research and development expenses increased due to increases in headcount-related expenses and infrastructure-related costs. This suggests increased investment in future growth.

During the second quarter of 2025, the Company announced the following new or updated products: iPhone 16e, iPad Air®, iPad, MacBook Air®, Mac Studio®.

The timing of product introductions can also impact the Company's net sales to its indirect distribution channels as these channels are filled with new inventory following a product launch, and channel inventory of an older product often declines as the launch of a newer product approaches.

The company repurchased 108.12 million shares for $48.3 billion during the six months ended March 29, 2025. This demonstrates management's confidence in the company's future and commitment to returning capital to shareholders.

The Board of Directors raised the Company's quarterly cash dividend from $0.25 to $0.26 per share, beginning with the dividend to be paid during the third quarter of 2025. This indicates a commitment to returning value to shareholders.

On May 1, 2025, the Company announced the Board of Directors had authorized an additional program to repurchase up to $100 billion of the Company's common stock.

The Company makes statements about its values, including the environmental and societal impact of its business, through various non-financial reports, information provided on the Company's website, and in press statements and other communications.

The Company also pursues environmental and other goals and initiatives that involve risks and uncertainties, require investments, and depend in part on third-party performance or data that is outside the Company's control, and there can be no assurance that the Company will fully achieve all of its goals and initiatives.

Efforts by the Company to advance its business and values, or achieve its goals and further its initiatives, or to align with stakeholders' expectations, or comply with evolving, varied and at times conflicting federal, state and international laws, regulations and standards, or any failure or perceived failure to do so, can result in adverse reactions by consumers and other stakeholders, including the commencement of legal and regulatory proceedings against the Company, and can materially adversely affect the Company's business, reputation, results of operations, financial condition and stock price.

Macroeconomic conditions, including inflation, interest rates and currency fluctuations, have directly and indirectly impacted, and could in the future materially impact, the Company's results of operations and financial condition.

The weakness in foreign currencies relative to the U.S. dollar had an unfavorable year-over-year impact on Americas, Europe, Greater China, and Japan net sales during the second quarter of 2025.

The company acknowledges that restrictions on international trade, such as tariffs, can materially adversely affect the company's business and supply chain. The company is monitoring the impact of trade disputes and implementing mitigation strategies.