My estimate of Apple's 2nd fiscal quarter performance is based in part on continuing strength of Mac sales, in particular the popular iMac. I expect the iMac to be an industry standout in the March quarter for a desktop PC, regardless of make or operating system. Though the Mac portable line is expected to be refreshed this week, sales of the current models will have more than held their own in the March quarter. I estimate the March quarter will deliver about a 36% gain in Mac unit sales in year-over-year comparisons.
The iPod line of digital music players, led by the iPhone OS-based iPod touch, will see only a slight year-over-year decline in unit sales. The iPod line will have benefitted from strong post-holiday sales in first few weeks of January.
I estimate iPhone units sales fell just shy of doubling the prior year's sales performance with strong overseas sales providing the greatest lift in unit sales growth performance.
In all, I expect total revenue of just over $12.8 billion, operating income of about $3.645 billion, net income of about $2.586 billion and earnings per share of $2.80 based on 924 million diluted shares in the tally.
Mac units | 3,010,000 | |
Mac Revenue | 3,984,086,853 | |
iPhone Units | 7,450,000 | |
iPhone revenue | 4,756,335,126 | |
iPod Units | 10,800,000 | |
iPhone revenue | 1,746,437,768 | |
Other | 2,325,000,000 | |
Total Revenue | 12,811,859,748 | |
COGS | -7,687,115,849 | |
Gross margin - 40% | 5,124,743,899 | |
Operating Expenses: | ||
Research and Development | -377,949,863 | |
SG&A | -1,101,819,938 | |
Total Operating Expenses | -1,479,769,801 | |
Operating Income | 3,644,974,098 | |
Other Income | 50,000,000 | |
Income before Tax Provision | 3,694,974,098 | |
Provision For income Taxes - 30% | -1,108,492,229 | |
Net Income | 2,586,481,869 | |
Diluted Shares | 924,000,000 | |
eps | 2.80 |
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