What is Apple's capex?

Apple (AAPL) reported capex of $1.97B in Q1 2026.

How has Apple's capex changed year-over-year?

Apple's capex decreased by 35.8% year-over-year, from $3.07B to $1.97B.

What is the long-term trend for Apple's capex?

Over 4 years (2021 to 2025), Apple's capex has grown at a 3.5% compound annual growth rate (CAGR), from $11.09B to $12.72B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Apple AAPL CapEx

CapEx at other companies

HPHPQ

$170M-7.1%

MicrosoftMSFT

$30.88B+84.4%

QualcommQCOM

$533M+149%

Sirius XMSIRI

$105M-44.4%

AmazonAMZN

$44.2B+76.7%

Logitech InternationalLOGI

$13.84M+8.2%

Other financials

Income statement

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Revenue$111.18B+16.6%

Gross profit$54.8B+22.1%

Operating income$35.9B+21.3%

Net income$29.6B+19.4%

EPS (diluted)$2.01+21.8%

Balance sheet

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Cash & equivalents$45.6B+61.8%

Total debt$82.7B-10.3%

Total equity$106.49B+59.4%

Total assets$371.08B+12.0%

Cash flow

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Operating cash flow$28.7B+19.8%

Free cash flow$26.7B+28.0%

Valuation

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Market cap$4.04T+34.6%

Enterprise value$4.08T+33.0%

P/E33×+2.1×

P/S9×+1.5×

Profitability

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Gross margin47.9%+1.2pp

Operating margin32.6%+0.8pp

Net margin27.2%+2.9pp

FCF margin28.6%+4.0pp

Returns & leverage

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Return on equity141.5%+3.5pp

Debt / equity0.8×-0.6×

Current ratio1.1×+0.2×

Where this comes from

Reported directly by Apple in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Apple’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Apple's capex?: Apple (AAPL) reported capex of $1.97B in Q1 2026.
How has Apple's capex changed year-over-year?: Apple's capex decreased by 35.8% year-over-year, from $3.07B to $1.97B.
What is the long-term trend for Apple's capex?: Over 4 years (2021 to 2025), Apple's capex has grown at a 3.5% compound annual growth rate (CAGR), from $11.09B to $12.72B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.