v3.26.1
Cash, Cash Equivalents and Investments
 9 Months Ended
Jul. 26, 2026
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Investments Cash, Cash Equivalents and Investments
Summary of Cash, Cash Equivalents and Investments
The following tables summarize our cash, cash equivalents and investments by security type:
 
July 26, 2026CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
(In millions)
Cash$1,763 $— $— $1,763 
Cash equivalents:
Money market funds*
2,192 — — 2,192 
Bank certificates of deposit and time deposits240 — — 240 
U.S. Treasury and agency securities1,196 — — 1,196 
Municipal securities5 — — 5 
Commercial paper, corporate bonds and medium-term notes1,641 — — 1,641 
Total cash equivalents5,274 — — 5,274 
Total cash and cash equivalents$7,037 $— $— $7,037 
Short-term and long-term investments:
Bank certificates of deposit and time deposits$7 $— $— $7 
U.S. Treasury and agency securities2,911 — 11 2,900 
Non-U.S. government securities**
12 — — 12 
Municipal securities471 — 3 468 
Commercial paper, corporate bonds and medium-term notes1,089 1 3 1,087 
Asset-backed and mortgage-backed securities573 — 4 569 
Total fixed income securities5,063 1 21 5,043 
Publicly traded equity securities965 1,015 1 1,979 
Equity investments in privately held companies378 151 87 442 
Total equity investments1,343 1,166 88 2,421 
Total short-term and long-term investments$6,406 $1,167 $109 $7,464 
Total cash, cash equivalents and investments$13,443 $1,167 $109 $14,501 
_________________________
*Excludes $57 million of restricted cash equivalents invested in money market funds related to deferred compensation plans.
**Consists of German government debt.
October 26, 2025CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
(In millions)
Cash$1,419 $— $— $1,419 
Cash equivalents:
Money market funds*
2,193 — — 2,193 
Bank certificates of deposit and time deposits180 — — 180 
U.S. Treasury and agency securities1,196 — — 1,196 
Municipal securities5 — — 5 
Commercial paper, corporate bonds and medium-term notes2,248 — — 2,248 
Total cash equivalents5,822 — — 5,822 
Total cash and cash equivalents$7,241 $— $— $7,241 
Short-term and long-term investments:
Bank certificates of deposit and time deposits$4 $— $— $4 
U.S. Treasury and agency securities1,229 3 — 1,232 
Non-U.S. government securities**
5 — — 5 
Municipal securities463 5 — 468 
Commercial paper, corporate bonds and medium-term notes848 6 — 854 
Asset-backed and mortgage-backed securities614 4 2 616 
Total fixed income securities3,163 18 2 3,179 
Publicly traded equity securities1,288 824 2 2,110 
Equity investments in privately held companies342 74 46 370 
Total equity investments1,630 898 48 2,480 
Total short-term and long-term investments$4,793 $916 $50 $5,659 
Total cash, cash equivalents and investments$12,034 $916 $50 $12,900 
 _________________________
*Excludes $71 million of restricted cash equivalents invested in money market funds related to deferred compensation plans.
**Consists of Canadian provincial government debt. 
During the three months ended July 26, 2026 and July 27, 2025, interest income from our cash, cash equivalents and fixed income securities was $104 million and $92 million, respectively.
During the nine months ended July 26, 2026 and July 27, 2025, interest income from our cash, cash equivalents and fixed income securities was $297 million and $309 million, respectively.

Maturities of Investments
The following table summarizes the contractual maturities of our investments as of July 26, 2026:
 
CostEstimated
Fair Value
(In millions)
Due in one year or less$2,180 $2,178 
Due after one through five years2,310 2,296 
No single maturity date*1,916 2,990 
Total$6,406 $7,464 
 _________________________
*Securities with no single maturity date include publicly traded and privately held equity securities and asset-backed and mortgage-backed securities.
Gains and Losses on Investments
During the three and nine months ended July 26, 2026 and July 27, 2025, gross realized gains and losses on our fixed income portfolio were not material.
As of July 26, 2026 and October 26, 2025, gross unrealized losses related to our fixed income portfolio were not material. We regularly review our fixed income portfolio to identify and evaluate investments that have indications of possible impairment from credit losses or other factors. Factors considered in determining whether an unrealized loss is considered to be a credit loss include: the significance of the decline in value compared to the cost basis; the financial condition, credit quality and near-term prospects of the investee; and whether it is more likely than not that we will be required to sell the security prior to recovery. Credit losses related to available-for-sale debt securities are recorded as an allowance for credit losses through interest and other income (expense), net. Any additional changes in fair value that are not related to credit losses are recognized in accumulated other comprehensive income (loss) (AOCI). During the three and nine months ended July 26, 2026 and July 27, 2025, we did not recognize material credit losses and the ending allowance for credit losses was not material to our fixed income portfolio.
The components of gain (loss) on equity investments recognized in the Consolidated Condensed Statements of Operations for the three and nine months ended July 26, 2026 and July 27, 2025 were as follows:
Three Months EndedNine Months Ended
July 26,
2026		July 27,
2025		July 26,
2026		July 27,
2025
(In millions)
Publicly traded equity securities
Unrealized gain $— $311 $1,157 $424 
Unrealized loss(270)— (286)(139)
Realized gain on sales and dividends17 5 22 30 
Realized loss on sales or impairment— — (15)— 
Equity investments in privately held companies
Unrealized gain51 9 86 16 
Unrealized loss(1)(6)(8)(13)
Realized gain on sales and dividends3 1 10 8 
Realized loss on sales or impairment(13)(22)(39)(27)
Total gain (loss) on equity investments, net$(213)$298 $927 $299