The Buried
Footnote Forensic Linguistics Analysis
on Corporate Disclosure Documents
Year-over-Year Drift AAPL
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Certainty language minus hedging language in Risk Factors. Positive = assertive, negative = hedging-heavy.

10-K 2021-10-29 10-K 2022-10-28 10-K 2023-11-03 10-Q 2024-02-02 10-Q 2024-05-03 10-Q 2024-08-02 10-K 2024-11-01 10-Q 2025-01-31 10-Q 2025-05-02 10-Q 2025-08-01 10-K 2025-10-31 10-Q 2026-01-30 10-Q 2026-05-01

From 2021-10-29 (10-K) to 2026-05-01 (10-Q), this metric increased across 13 filings.


Risk-factor drift item_1a vs prior same-form filing, cosine similarity

  • 10-K 2025-10-31 vs 2024-11-01 89.1% boilerplate
  • 10-K 2024-11-01 vs 2023-11-03 100.0% boilerplate
  • 10-K 2023-11-03 vs 2022-10-28 71.5% noticeable change
  • 10-K 2022-10-28 vs 2021-10-29 98.8% boilerplate

Vanished metrics promoted KPIs that stopped being reported

No hard disappearances detected for this issuer.

Reclassified / renamed (metric continues under a new name):

  • Greater China NET Sales Greater China as of 10-K 2025-10-31
  • REST OF ASIA Pacific NET Sales REST OF ASIA Pacific as of 10-K 2025-10-31
  • Iphone NET Sales Iphone as of 10-K 2025-10-31
  • Wearables HOME AND Accessories NET Sales Wearables HOME AND Accessories as of 10-K 2025-10-31
  • Americas NET Sales Americas as of 10-K 2025-10-31
  • Europe NET Sales Europe as of 10-K 2025-10-31
  • IPAD NET Sales IPAD as of 10-K 2025-10-31
  • Services NET Sales Services as of 10-K 2025-10-31
  • Japan NET Sales Japan as of 10-K 2025-10-31
  • MAC NET Sales MAC as of 10-K 2025-10-31

Auditor’s report opinion, going-concern & control flags, critical audit matters

  • 10-K 2025-10-31 unqualified 1 CAM · auditor since 2009
    • Description of the Matter
  • 10-K 2024-11-01 unqualified 1 CAM · auditor since 2009
    • Description of the Matter
  • 10-K 2023-11-03 unqualified 1 CAM · auditor since 2009
    • Description of the Matter
  • 10-K 2022-10-28 unqualified 1 CAM · auditor since 2009
    • Description of the Matter
  • 10-K 2021-10-29 unqualified 1 CAM · auditor since 2009
    • Description of the Matter

Balance-sheet trends inventory, receivables, reserves & impairment vs prior year

  • Inventory building faster than sales FY 2023-09-30
    inventory +28% vs revenue -3% · DIO 8.1→10.8 days
  • Inventory building faster than sales FY 2021-09-25
    inventory +62% vs revenue +33% · DIO 8.7→11.3 days
  • Receivables building faster than sales FY 2021-09-25
    receivables +63% vs revenue +33% · DSO 21.4→26.2 days

Revenue-recognition drift rev-rec policy language change vs prior filing

  • 10-K 2023-11-03 acquisition context
    − Performance Obligations− Standalone Selling Price
  • 10-K 2022-10-28 90% similar to prior acquisition context
    − Contract Liabilities