Apple Inc.'s Senior Unsecured Notes Assigned 'AA+' Rating

SAN FRANCISCO (S&P Global Ratings) Aug. 1, 2022--S&P Global Ratings today assigned its 'AA+' issue-level rating to Cupertino, Calif.-based global hardware and services provider Apple Inc.'s senior unsecured notes due 2029, 2032, 2052 and 2062. The company will use the proceeds for general corporate purposes, including share repurchases, dividends, and repayment of debt. We rate the new notes the same as our long-term issuer credit rating on the company. All of our other ratings on Apple are unchanged. Apple's fiscal third-quarter revenue increased 2% year over year to $83 billion, with year-over-year revenue growth in iPhone at 3% and Services at 12%, while revenues declined in Mac at 10%, iPad at 2%, and Wearables, Home, and Accessories at 8%. Revenue

...August 1, 2022 SAN FRANCISCO (S&P Global Ratings) Aug. 1, 2022--S&P Global Ratings today assigned its '##+' issue-level rating to Cupertino, Calif.-based global hardware and services provider Apple Inc.'s senior unsecured notes due 2029, 2032, 2052 and 2062. The company will use the proceeds for general corporate purposes, including share repurchases, dividends, and repayment of debt. We rate the new notes the same as our long-term issuer credit rating on the company. All of our other ratings on Apple are unchanged. Apple's fiscal third-quarter revenue increased 2% year over year to $83 billion, with year-over-year revenue growth in iPhone at 3% and Services at 12%, while revenues declined in Mac at 10%, iPad at 2%, and Wearables, Home, and Accessories at 8%. Revenue grew in the Americas and Europe, but modestly lower in Greater China and much weaker in Japan. We believe Apple will maintain its target of a net cash-neutral position over time. Cash and investments totaled $179 billion and...

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