Horace Dediu writes for Asymco, “Three months ago Apple provided the following guidance: ‘As we move ahead into the June quarter,[…] We expect revenue to be between $51.5 billion and $53.5 billion. We expect gross margin to be between 38% and 38.5%. We expect OpEx to be between $7.7 billion and $7.8 billion. We expect OI&E to be about $400 million. And we expect our tax rate to be about 14.5%.'”
Dediu writes, “If we aim for a revenue figure close to the upper end of the range ($53.2 billion) and insert all the other figures (split the difference for OpEx) then the company’s fiscal third quarter looks as follows:”
• Revenues: $53.2b
• iPhone (units): 43.2 million
• iPad (units): 11.6 million
• Mac (units): 4.3 million
• Services ($): 9.5 billion
• Other products ($): 3.5 billion
• Gross margin (%): 38.6%
• EPS ($): $2.26
How Dediu arrived at that EPS figure is explained in full here.
MacDailyNews Take: As always, the amount and timing of Apple’s massive buyback program during the quarter is the great unknown.
Reminder: Apple’s Q318 results are scheduled to be revealed on Tuesday, July 31, 2018, at market close. Check our homepage right around 4:30pm EDT for the results report.