Apple Now Has 132K Full-Time Employees, Spent $14.2B on R&D in 2018 Fiscal Year
Following the conclusion of its 2018 fiscal year, which ended September 29, Apple today filed its annual Form 10-K [PDF] with the SEC. We've combed through the exhaustive, legalese-rich 72-page report so you don't have to.
Highlights:
- 9,000 more employees: Apple has 132,000 full-time employees as of the end of its 2018 fiscal year, up from 123,000 a year prior.
- R&D expenses rose nearly $3 billion: Apple spent $14.2 billion on research and development in its 2018 fiscal year, a nearly 23 percent increase over the $11.5 billion it spent in its 2017 fiscal year.
- Apple continues to execute its share repurchase program: Apple had 23,712 shareholders of record as of October 26, 2018, down from 25,333 as of October 20, 2017. There were 4,754,986,000 outstanding shares of Apple stock as of the end of its 2018 fiscal year.
- Genius Bar expenses are down: Apple's expenses from warranty claims totaled $4.1 billion in its 2018 fiscal year, down from $4.3 billion in its 2017 fiscal year and $4.6 billion in its 2016 fiscal year.
- CapEx to drop: Apple anticipates utilizing approximately $14 billion for capital expenditures during its 2019 fiscal year, down from $16.7 billion in its 2018 fiscal year. The capital is used towards Apple's manufacturing equipment, data centers, corporate facilities, and retail stores.
- Apple snaps up more office space: Apple owned 16.5 million square feet and leased 24.3 million square feet of building space as of September 29, 2018. By comparison, Apple owned 13.4 million square feet and leased 23.0 million square feet of building space as of September 30, 2017.
Apple's annual Form 10-K also acknowledges that "international trade disputes" could adversely affect its business, almost certainly referring to an ongoing trade dispute between the United States and China:
International trade disputes could result in tariffs and other protectionist measures that could adversely affect the Company's business. Tariffs could increase the cost of the Company's products and the components and raw materials that go into making them. These increased costs could adversely impact the gross margin that the Company earns on its products. Tariffs could also make the Company's products more expensive for customers, which could make the Company's products less competitive and reduce consumer demand. Countries may also adopt other protectionist measures that could limit the Company's ability to offer its products and services. Political uncertainty surrounding international trade disputes and protectionist measures could also have a negative effect on consumer confidence and spending, which could adversely affect the Company's business.
Apple's annual Form 10-K can be viewed or downloaded in a variety of formats from the company's Investor Relations website.
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