Apple (AAPL) Operating Expenses (2009 - 2026)
Apple (AAPL) posted Operating Expenses of $19.08 billion for fiscal Q3 2026 (quarter ended Jun 27, 2026), up 22.9% from $15.52 billion a year earlier and up 0.9% from the prior quarter.
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Analysis
Apple (AAPL) Operating Expenses (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 27, 2026, Operating Expenses at Apple was $72.26 billion, up 19.4% year-over-year; for FY2025 (ended Sep 27, 2025), it was $62.15 billion, up 8.2% from FY2024.
- Annual Operating Expenses has increased for 16 consecutive fiscal years, with a five-year compound annual growth rate of 10.0% (FY2020 to FY2025).
- In prior fiscal years, Apple's Operating Expenses was $57.47 billion in FY2024 (+4.8%), $54.85 billion in FY2023 (+6.8%), $51.35 billion in FY2022 (+17.0%) and $43.89 billion in FY2021 (+13.5%).
- The fiscal Q3 2026 figure stands as the highest quarterly Operating Expenses in data going back to fiscal Q2 2009.
- On a year-over-year basis, Operating Expenses has increased in each of the last 66 quarters, with growth averaging 13.1% over the last eight quarters.
- The year-over-year growth in Operating Expenses has ranged between 1.2% (fiscal Q1 2024) and 23.7% (fiscal Q2 2026) over the last five years.
- According to Business Quant data, Operating Expenses for the three prior fiscal quarters was $18.9 billion (Q2 2026), $18.38 billion (Q1 2026) and $15.91 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,863.18 Bn | 4,610.67 Bn | 54.77 Bn | 19.08 Bn |
| 2 | Cisco Systems | 445.19 Bn | 381.12 Bn | 11.06 Bn | 6.80 Bn |
| 3 | Dell Technologies | 353.32 Bn | 309.07 Bn | 9.83 Bn | 4.45 Bn |
| 4 | Arista Networks | 261.04 Bn | 214.50 Bn | 1.91 Bn | 532.30 Mn |
| 5 | Sandisk | 248.81 Bn | 237.33 Bn | 7.58 Bn | 545.00 Mn |
| 6 | Seagate Technology Holdings | 201.18 Bn | 196.18 Bn | 1.90 Bn | 2.07 Bn |
| 7 | Western Digital | 159.43 Bn | 147.56 Bn | 2.03 Bn | 465.00 Mn |
| 8 | Sony | 144.77 Bn | 95.16 Bn | 6.53 Bn | 14.83 Bn |
| 9 | Lumentum Holdings | 96.72 Bn | 88.53 Bn | 477.30 Mn | 198.00 Mn |
| 10 | Hewlett Packard Enterprise | 90.82 Bn | 68.69 Bn | 4.93 Bn | 10.82 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 19.08 Bn |
| Mar 28, 2026 | 18.90 Bn |
| Dec 27, 2025 | 18.38 Bn |
| Sep 27, 2025 | 15.91 Bn |
| Jun 28, 2025 | 15.52 Bn |
| Mar 29, 2025 | 15.28 Bn |
| Dec 28, 2024 | 15.44 Bn |
| Sep 28, 2024 | 14.29 Bn |
| Jun 29, 2024 | 14.33 Bn |
| Mar 30, 2024 | 14.37 Bn |
| Dec 30, 2023 | 14.48 Bn |
| Sep 30, 2023 | 13.46 Bn |
| Jul 1, 2023 | 13.42 Bn |
| Apr 1, 2023 | 13.66 Bn |
| Dec 31, 2022 | 14.32 Bn |
| Sep 24, 2022 | 13.20 Bn |
| Jun 25, 2022 | 12.81 Bn |
| Mar 26, 2022 | 12.58 Bn |
| Dec 25, 2021 | 12.76 Bn |
| Sep 25, 2021 | 11.39 Bn |
API Access
Apple Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=AAPL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "AAPL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=AAPL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();