Apple (NAS:AAPL) Total Inventories

: $7,351 Mil (As of Jun. 2023)

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Apple's total inventories for the quarter that ended in Jun. 2023 was $7,351 Mil. Apple's average total inventories from the quarter that ended in Mar. 2023 to the quarter that ended in Jun. 2023 was $7,417 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Apple's Net-Net Working Capital per share for the quarter that ended in Jun. 2023 was $-12.39.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Apple's Days Inventory for the three months ended in Jun. 2023 was 14.91.

Inventory Turnover measures how fast the company turns over its inventory within a year. Apple's Inventory Turnover for the quarter that ended in Jun. 2023 was 6.12.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Apple's Inventory-to-Revenue for the quarter that ended in Jun. 2023 was 0.09.

Apple Total Inventories Historical Data

The historical data trend for Apple's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Apple Annual Data

Trend

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Total Inventories

3,956.00

4,106.00

4,061.00

6,580.00

4,946.00

Apple Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Total Inventories																5,433.00	4,946.00	6,820.00	7,482.00	7,351.00

Apple Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Apple (NAS:AAPL) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Apple's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2023 is

	Net-Net Working Capital Per Share (Q: Jun. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(62482	+	0.75 * 19549	+	0.5 * 7351	-	274764
-	0	-	0)	/	15647.9
=	-12.39

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Apple's Days Inventory for the three months ended in Jun. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2023 )	/	Cost of Goods Sold (Q: Jun. 2023 )	*	Days in Period
	=	7416.5	/	45384	*	365 / 4
	=	14.91

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Apple's Inventory Turnover for the quarter that ended in Jun. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Jun. 2023 )	/	Average Total Inventories (Q: Jun. 2023 )
	=	45384	/	7416.5
	=	6.12

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Apple's Inventory to Revenue for the quarter that ended in Jun. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	7416.5	/	81797
	=	0.09

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Apple Total Inventories Related Terms

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Apple (NAS:AAPL) Business Description

Industry

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Address

One Apple Park Way, Cupertino, CA, USA, 95014

Website

https://www.apple.com

Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), and AirPods, among others. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, Apple Care, Apple TV+, Apple Arcade, Apple Fitness, Apple Card, and Apple Pay, among others. Apple's products include internally developed software and semiconductors, and the firm is well known for its integration of hardware, software, semiconductors, and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers.

Executives

Alex Gorsky	director	JOHNSON & JOHNSON, ONE JOHNSON & JOHNSON PLAZA, NEW BRUNSWICK NJ 08933
Monica C Lozano	director
Deirdre O'brien	officer: Senior Vice President	ONE APPLE PARK WAY, CUPERTINO CA 95014
Robert A Iger	director	C/O WALT DISNEY CO, 500 S BUENA VISTA STREET, BURBANK CA 91521-1062
Andrea Jung	director	C/O APPLE INC, ONE APPLE PARK WAY, CUPERTINO CA 95014
Susan Wagner	director	C/O BLACKROCK, INC., 40 EAST 52ND STREET, NEW YORK NY 10022
James A Bell	director	C/O THE DOW CHEMICAL COMPANY, 2211 H.H. DOW WAY, MIDLAND MI 48674
Albert Jr Gore	director	C/O APPLE INC, 1 INFINITE LOOP, CUPERTINO CA 95014
Ronald D Sugar	director	10877 WILSHIRE BLVD., SUITE 1650, LOS ANGELES CA 900274
Katherine L. Adams	officer: SVP, General Counsel	APPLE INC., 1 INFINITE LOOP, CUPERTINO CA 95014
Luca Maestri	officer: Senior Vice President, CFO	1 INFINITE LOOP, CUPERTINO CA 95014
Angela J Ahrendts	officer: Senior Vice President	1 INFINITE LOOP, CUPERTINO CA 95014
Jeffrey E Williams	officer: COO	ONE INFINITE LOOP, CUPERTINO CA 95014
Philip W Schiller	officer: Senior Vice President	C/O APPLE INC, ONE INFINITE LOOP, CUPERTINO CA 95014
Eduardo H Cue	officer: Senior Vice President	1 INFINITE LOOP, CUPERTINO CA 95014