Summary by Moomoo AI
On April 2, 2024, Apple Inc.'s Chief Financial Officer, Luca Maestri, received a follow-up letter from the United States Securities and Exchange Commission (SEC) regarding the company's Form 10-K for the fiscal year ended September 30, 2023. The SEC reviewed Apple's March 20, 2024 response to a previous comment letter and requested additional information. The SEC's comments focused on the need for Apple to provide a more detailed analysis of the qualitative factors that influenced the level of disclosures in their operations discussion, particularly changes in Services revenue. Additionally, the SEC asked for an expanded analysis on the similarities and differences between the various types of services within Apple's 'Services' grouping, differences in revenue recognition, customer categories for each service type, and the quantitative significance of various service categories. Apple is expected to respond within ten business days or provide a timeline for their response.