Apple Inc.

“The Company’s operations and performance depend significantly on global and regional economic conditions.”

“Uncertainty about, or a decline in, global or regional economic conditions can also have a significant impact on the Company’s developers, suppliers, contract manufacturers, logistics providers, distributors, cellular network carriers and other channel partners. Potential outcomes include financial instability, inability to obtain credit, and insolvency.”

“Political events, trade and other international 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, developers, suppliers, contract manufacturers, logistics providers, distributors, cellular network carriers and other channel partners.”

“Beginning in the second quarter of 2025, new tariffs were announced on imports to the U.S., including additional tariffs on imports from China mainland, India, Japan, South Korea, Taiwan, Vietnam and the European Union (“EU”), among others. In response, several countries have imposed, or threatened to impose, reciprocal tariffs on imports from the U.S. and other retaliatory measures. Various modifications to U.S. tariffs have been announced and further changes could be made in the future, which may include additional sector-based tariffs or other measures. The ultimate impact remains uncertain…”

“Many of the Company’s operations, retail stores, data centers and other facilities, as well as critical business operations of the Company’s suppliers and contract manufacturers, are in locations prone to earthquakes and other natural disasters. Global climate change is resulting in certain types of natural disasters and extreme weather occurring more frequently or with more intense effects. In addition, the Company’s and its suppliers’ operations, retail stores, data centers and other facilities are subject to the risk of interruption by fire, power shortages, nuclear power plant accidents an…”