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Investments (Tables) | 9 Months Ended
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Apr. 27, 2024
Investments, Debt and Equity Securities [Abstract] |
Summary of Available-for-Sale Debt Investments | The following tables summarize our available-for-sale debt investments (in millions):
April 27, 2024 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 2,411 |  |  | $ | — |  |  | $ | (49) |  |  | $ | 2,362 |
U.S. government agency securities | 248 |  |  | — |  |  | (3) |  |  | 245 |
Non-U.S. government and agency securities | 390 |  |  | — |  |  | — |  |  | 390 |
Corporate debt securities | 3,985 |  |  | 1 |  |  | (198) |  |  | 3,788 |
U.S. agency mortgage-backed securities | 2,058 |  |  | — |  |  | (228) |  |  | 1,830 |
Commercial paper | 563 |  |  | — |  |  | — |  |  | 563 |
Certificates of deposit | 229 |  |  | — |  |  | — |  |  | 229 |
Total | $ | 9,884 |  |  | $ | 1 |  |  | $ | (478) |  |  | $ | 9,407 |
July 29, 2023 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized and Credit Losses |  | Fair Value
U.S. government securities | $ | 3,587 |  |  | $ | 1 |  |  | $ | (62) |  |  | $ | 3,526 |
U.S. government agency securities | 428 |  |  | — |  |  | (5) |  |  | 423 |
Non-U.S. government and agency securities | 364 |  |  | — |  |  | (1) |  |  | 363 |
Corporate debt securities | 7,238 |  |  | 3 |  |  | (327) |  |  | 6,914 |
U.S. agency mortgage-backed securities | 2,421 |  |  | 14 |  |  | (230) |  |  | 2,205 |
Commercial paper | 1,484 |  |  | — |  |  | — |  |  | 1,484 |
Certificates of deposit | 677 |  |  | — |  |  | — |  |  | 677 |
Total | $ | 16,199 |  |  | $ | 18 |  |  | $ | (625) |  |  | $ | 15,592 |
Gross Realized Gains and Gross Realized Losses Related to Available-for-Sale Investment | The following table presents the gross realized gains and gross realized losses related to available-for-sale debt investments (in millions):
| Three Months Ended |  | Nine Months Ended
| April 27, 2024 |  | April 29, 2023 |  | April 27, 2024 |  | April 29, 2023
Gross realized gains | $ | 2 |  |  | $ | 1 |  |  | $ | 7 |  |  | $ | 4 |
Gross realized losses | (16) |  |  | (7) |  |  | (64) |  |  | (19) |
Total | $ | (14) |  |  | $ | (6) |  |  | $ | (57) |  |  | $ | (15) |
Available-for-Sale Investments with Gross Unrealized Losses | The following tables present the breakdown of the available-for-sale debt investments with gross unrealized losses and the duration that those losses had been unrealized at April 27, 2024 and July 29, 2023 (in millions):
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
April 27, 2024 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 1,740 |  |  | $ | (25) |  |  | $ | 570 |  |  | $ | (24) |  |  | $ | 2,310 |  |  | $ | (49) |
U.S. government agency securities | 175 |  |  | (1) |  |  | 65 |  |  | (2) |  |  | 240 |  |  | (3) |
Non-U.S. government and agency securities | 239 |  |  | — |  |  | — |  |  | — |  |  | 239 |  |  | — |
Corporate debt securities | 629 |  |  | (7) |  |  | 2,967 |  |  | (161) |  |  | 3,596 |  |  | (168) |
U.S. agency mortgage-backed securities | 486 |  |  | (13) |  |  | 1,344 |  |  | (215) |  |  | 1,830 |  |  | (228) |
Commercial paper | 91 |  |  | — |  |  | — |  |  | — |  |  | 91 |  |  | — |
Total | $ | 3,360 |  |  | $ | (46) |  |  | $ | 4,946 |  |  | $ | (402) |  |  | $ | 8,306 |  |  | $ | (448) |
| UNREALIZED LOSSES LESS THAN 12 MONTHS |  | UNREALIZED LOSSES 12 MONTHS OR GREATER |  | TOTAL
July 29, 2023 | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
U.S. government securities | $ | 2,394 |  |  | $ | (26) |  |  | $ | 931 |  |  | $ | (36) |  |  | $ | 3,325 |  |  | $ | (62) |
U.S. government agency securities | 343 |  |  | (2) |  |  | 72 |  |  | (3) |  |  | 415 |  |  | (5) |
Non-U.S. government and agency securities | 363 |  |  | (1) |  |  | — |  |  | — |  |  | 363 |  |  | (1) |
Corporate debt securities | 1,736 |  |  | (22) |  |  | 4,315 |  |  | (275) |  |  | 6,051 |  |  | (297) |
U.S. agency mortgage-backed securities | 658 |  |  | (13) |  |  | 1,438 |  |  | (217) |  |  | 2,096 |  |  | (230) |
Commercial paper | 97 |  |  | — |  |  | — |  |  | — |  |  | 97 |  |  | — |
Certificates of deposit | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |
Total | $ | 5,593 |  |  | $ | (64) |  |  | $ | 6,756 |  |  | $ | (531) |  |  | $ | 12,349 |  |  | $ | (595) |
Maturities of Available-for-Sale Debt Investments | The following table summarizes the maturities of our available-for-sale debt investments as of April 27, 2024 (in millions):
| Amortized Cost |  | Fair Value
Within 1 year | $ | 2,745 |  |  | $ | 2,696 |
After 1 year through 5 years | 5,081 |  |  | 4,881 |
Mortgage-backed securities with no single maturity | 2,058 |  |  | 1,830 |
Total | $ | 9,884 |  |  | $ | 9,407 |

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