We have reviewed Apple's new financial policy, which is expected to move the company to a net cash neutral position over time, through declines in both cash and debt balances, as well as continued improvements to its overall business through increased scale, consistent profitability, and strengthened ecosystem through growth of its services business. We are affirming all of our ratings on Apple Inc., including the 'AA+' corporate credit rating. The stable outlook reflects our expectation that Apple Inc. will maintain a commitment to a minimal financial risk profile as it shrinks its balance sheet over the next several years through shareholder returns, debt repayments, and potential acquisitions. On May 23, 2018, S&P Global Ratings affirmed its 'AA+' corporate credit rating
