Apple (BUE:AAPL) Total Inventories

: ARS2,350,471 Mil (As of Dec. 2023)

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Apple's total inventories for the quarter that ended in Dec. 2023 was ARS2,350,471 Mil. Apple's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was ARS2,283,002 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 Dec. 2023 was ARS-722.69.

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 Dec. 2023 was 8.92.

Inventory Turnover measures how fast the company turns over its inventory within a year. Apple's Inventory Turnover for the quarter that ended in Dec. 2023 was 10.23.

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 Dec. 2023 was 0.05.

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

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Total Inventories

229,632.15

301,488.63

643,392.39

687,246.69

2,215,533.51

Apple Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Inventories																1,143,372.97	1,478,069.13	1,764,239.99	2,215,533.51	2,350,471.00

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 (BUE: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 Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(26389100.024	+	0.75 * 8373034.008	+	0.5 * 2350471.002	-	100868454.091
-	0	-	0)	/	92742.8
=	-722.69

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 Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	2283002.2565	/	23363920.021	*	365 / 4
	=	8.92

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 Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	23363920.021	/	2283002.2565
	=	10.23

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 Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	2283002.2565	/	43166575.039
	=	0.05

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 (BUE:AAPL) Business Description

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Website

https://www.apple.com

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.