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Available-for-Sale Debt Investments and Equity Investments (Tables)
 3 Months Ended
Oct. 27, 2018
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-sale Debt Investments and Equity Investments
The following table summarizes our available-for-sale debt investments and equity investments (in millions):
 
October 27, 2018
 
July 28, 2018
Available-for-sale debt investments
$
34,183

 
$
37,009

Marketable equity securities
—

 
605

Total investments
34,183

 
37,614

Non-marketable equity securities included in other assets
1,125

 
978

Equity method investments included in other assets
115

 
118

Total
$
35,423

 
$
38,710
Summary of Available-for-Sale Investments
The following tables summarize our available-for-sale debt investments (in millions):
October 27, 2018
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. government securities
$
5,783

 
$
—

 
$
(29
)
 
$
5,754

U.S. government agency securities
434

 
—

 
(4
)
 
430

Non-U.S. government and agency securities
153

 
—

 
—

 
153

Corporate debt securities
26,444

 
33

 
(446
)
 
26,031

U.S. agency mortgage-backed securities
1,481

 
—

 
(60
)
 
1,421

Commercial paper
309

 
—

 
—

 
309

Certificates of deposit
85

 
—

 
—

 
85

Total (1)
$
34,689

 
$
33

 
$
(539
)
 
$
34,183


July 28, 2018
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. government securities
$
7,318

 
$
—

 
$
(43
)
 
$
7,275

U.S. government agency securities
732

 
—

 
(5
)
 
727

Non-U.S. government and agency securities
209

 
—

 
(1
)
 
208

Corporate debt securities
27,765

 
44

 
(445
)
 
27,364

U.S. agency mortgage-backed securities
1,488

 
—

 
(53
)
 
1,435

Total (1)
$
37,512

 
$
44

 
$
(547
)
 
$
37,009

(1) Net unsettled investment purchases were $1 million and net unsettled investment sales were $1.5 billion as of October 27, 2018 and July 28, 2018, respectively and were included in other current assets and other current liabilities.
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
 
October 27, 2018
 
October 28, 2017
Gross realized gains
$
2

 
$
8

Gross realized losses
(8
)
 
(4
)
Total
$
(6
)
 
$
4
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 October 27, 2018 and July 28, 2018 (in millions):
 
UNREALIZED LOSSES
LESS THAN 12 MONTHS
 
UNREALIZED LOSSES
12 MONTHS OR GREATER
 
TOTAL
October 27, 2018
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross 
Unrealized 
Losses
U.S. government securities 
$
516

 
$
(3
)
 
$
5,231

 
$
(26
)
 
$
5,747

 
$
(29
)
U.S. government agency securities
4

 
—

 
427

 
(4
)
 
431

 
(4
)
Non-U.S. government and agency securities
—

 
—

 
153

 
—

 
153

 
—

Corporate debt securities
13,483

 
(257
)
 
6,738

 
(189
)
 
20,221

 
(446
)
U.S. agency mortgage-backed securities
456

 
(12
)
 
947

 
(48
)
 
1,403

 
(60
)
Total
$
14,459

 
$
(272
)
 
$
13,496

 
$
(267
)
 
$
27,955

 
$
(539
)
 
UNREALIZED LOSSES
LESS THAN 12 MONTHS
 
UNREALIZED LOSSES
12 MONTHS OR GREATER
 
TOTAL
July 28, 2018
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross
Unrealized
Losses
 
Fair Value
 
Gross 
Unrealized 
Losses
U.S. government securities 
$
2,966

 
$
(20
)
 
$
4,303

 
$
(23
)
 
$
7,269

 
$
(43
)
U.S. government agency securities
206

 
(2
)
 
521

 
(3
)
 
727

 
(5
)
Non-U.S. government and agency securities
105

 
(1
)
 
103

 
—

 
208

 
(1
)
Corporate debt securities
16,990

 
(344
)
 
3,511

 
(101
)
 
20,501

 
(445
)
U.S. agency mortgage-backed securities
826

 
(24
)
 
581

 
(29
)
 
1,407

 
(53
)
Total
$
21,093

 
$
(391
)
 
$
9,019

 
$
(156
)
 
$
30,112

 
$
(547
)
Maturities of Fixed Income Securities
The following table summarizes the maturities of our available-for-sale debt investments as of October 27, 2018 (in millions): 
 
Amortized Cost
 
Fair Value
Within 1 year
$
12,283

 
$
12,243

After 1 year through 5 years
19,248

 
18,922

After 5 years through 10 years
1,662

 
1,581

After 10 years
15

 
16

Mortgage-backed securities with no single maturity
1,481

 
1,421

Total
$
34,689

 
$
34,183
Summary of Adjustments to Carrying Value of Investments
We recorded adjustments to the carrying value of our non-marketable equity securities measured using the measurement alternative in the first quarter of fiscal 2019 as follows (in millions):
 
Three Months Ended
 
October 27, 2018
Adjustments to non-marketable equity securities measured using the measurement alternative:
 
Upward adjustments
$
10

Downward adjustments, including impairments
(16
)
Net downward adjustments
$
(6
)
Gains and losses recognized on our marketable and non-marketable equity securities for the first quarter of fiscal 2019 are summarized below (in millions):
 
Three Months Ended
 
October 27, 2018
Net gains and losses recognized during the period on equity investments
$
8

Less: Net gains and losses recognized on equity investments sold
(12
)
Unrealized gains and losses recognized during reporting period on equity securities still held at the reporting date
$
(4
)