蘋果 (AAPL) 2003 Q3 法說會逐字稿

Good day and welcome to this Apple Computer conference call to discuss third-quarter financial results.

美好的一天，歡迎參加這次 Apple Computer 電話會議，討論第三季度的財務業績。

Today's call is being recorded.

今天的電話正在錄音。

At this time, for opening remarks and introductions I'll turn the call over to the Senior Director of Investor Relations and Corporate Finance, Ms. Nancy Paxton.

此時，關於開場白和介紹，我將把電話轉給投資者關係和公司財務高級總監 Nancy Paxton 女士。

Please go ahead, ma'am.

請繼續，女士。

Thank you.

謝謝你。

Good afternoon, and thanks to everyone for joining us.

下午好，感謝大家加入我們。

Apple issued its third-quarter earnings press release at approximately 1:30 p.m.

蘋果公司在下午 1 點 30 分左右發布了第三季度財報新聞稿。

Pacific time today.

今天太平洋時間。

The earnings press release and financials are available on Firstcall, as well as Apple's web site.

收益新聞稿和財務信息可在 Firstcall 以及 Apple 網站上獲取。

Speaking today is Apple CFO, Fred Anderson, and he'll be joined by Senior VP of Finance, Peter Oppenheimer, and VP and Corporate Treasurer Gary Whistler for the Q&A session with the analysts.

今天發言的是 Apple 首席財務官 Fred Anderson，他將與財務高級副總裁 Peter Oppenheimer 以及副總裁兼企業財務主管 Gary Whistler 一起參加與分析師的問答環節。

Some of the information you'll hear consists of forward-looking statements regarding revenue, gross margin, operating expenses, other income and expense, capitalized research and development expense, taxes, products, Apple's retail initiative, and net earnings.

您將聽到的一些信息包括有關收入、毛利率、運營費用、其他收入和費用、資本化研發費用、稅收、產品、Apple 的零售計劃和淨收益的前瞻性陳述。

Actual results and trends could differ materially from our forecast.

實際結果和趨勢可能與我們的預測大相徑庭。

For more information, please refer to pages 35 through 44 of Apple's latest Form 10-K for the fiscal year ended September 28, 2002.

如需更多信息，請參閱 Apple 最新的 10-K 表格（截至 2002 年 9 月 28 日的財政年度）的第 35 至 44 頁。

Please also note that should non-GAAP financial measures be included in the call, such information should be viewed in addition to and not in lieu of Apple's GAAP results.

另請注意，如果電話會議中包含非 GAAP 財務指標，則應在查看此類信息的同時查看這些信息，而不是代替 Apple 的 GAAP 結果。

While we do not anticipate providing non-GAAP measures, should we do so a reconciliation of the GAAP and non-GAAP measures would be posted on Apple's site at www.apple.com/investor.

雖然我們預計不會提供非 GAAP 措施，但如果我們這樣做，GAAP 和非 GAAP 措施的對賬將發佈在 Apple 網站 www.apple.com/investor 上。

In connection with SEC rules on corporate disclosure, Apple is making this analysts call open to the media and general public by broadcasting the call live over the internet.

根據美國證券交易委員會關於公司披露的規定，蘋果正在通過互聯網直播此次電話會議，向媒體和公眾開放此次分析師電話會議。

And with that, I would like to turn the call over to Fred Anderson.

有了這個，我想把電話轉給弗雷德安德森。

Thank you, Nancy.

謝謝你，南希。

Fiscal Q3 was an excellent quarter for Apple, both in terms of new product announcements and business execution.

就新產品發布和業務執行而言，第三財季對蘋果來說是一個出色的季度。

We're especially proud of our results against a backdrop of tough economic environments.

在艱難的經濟環境背景下，我們特別為我們的業績感到自豪。

Revenues of $1.545 billion for the quarter were ahead of our guidance.

本季度 15.45 億美元的收入超出了我們的預期。

We achieved our highest revenue level in 11 quarters, growing 5% sequentially and 8% year-over-year.

我們實現了 11 個季度以來的最高收入水平，環比增長 5%，同比增長 8%。

Earnings per share were five cents, compared to consensus expectations of three cents.

每股收益為 5 美分，而市場普遍預期為 3 美分。

We sold 771,000 CPU units during the quarter.

我們在本季度售出了 771,000 個 CPU 單元。

Up 8% sequentially, down 5% from the year-ago quarter.

環比增長 8%，比去年同期下降 5%。

The year-over-year unit decline was more than offset by higher average revenue per systems sold, a function of strong sales of portables, iPods, and displays.

單位銷量同比下降被每個系統銷售的平均收入增加所抵消，這是便攜式設備、iPod 和顯示器銷售強勁的結果。

Ending channel inventory was down by about 11,000 units sequentially.

終端渠道庫存環比下降約 11,000 台。

And was within our target range of four to five weeks.

並且在我們四到五週的目標範圍內。

In terms of products, both iBooks and Power Books continued to sell very well.

在產品方面，iBooks 和 Power Books 均繼續暢銷。

Portable products represented a record high 46% of all MacIntosh systems sold during the quarter.

便攜式產品佔本季度銷售的所有 MacIntosh 系統的 46%，創歷史新高。

Desktop products were down, especially iMacs.

桌面產品下降，尤其是 iMac。

We sold 287,000 iMac units compared to 378,000 in the year-ago quarter.

我們售出了 287,000 台 iMac，而去年同期為 378,000 台。

Our Power Mac G4 sales continued to be very soft with 127,000 units sold.

我們的 Power Mac G4 銷售繼續非常疲軟，售出 127,000 台。

A function of both continued poor business conditions for many of our professional customers, and our management of channel inventory in anticipation of updates to the Power Mac product line.

我們的許多專業客戶的業務狀況持續不佳，以及我們對 Power Mac 產品線更新的預期管理渠道庫存。

A major highlight of the quarter was the April 28 introduction of the iTunes Music Store and our new third-generation iPods.

本季度的一大亮點是 4 月 28 日推出的 iTunes 音樂商店和我們新的第三代 iPod。

We sold over five million songs through the iTunes Music Store during the quarter and have sold over 6.5 million songs to date.

我們在本季度通過 iTunes 音樂商店售出了超過 500 萬首歌曲，迄今為止已售出超過 650 萬首歌曲。

We are extremely pleased with the success and critical acclaim that the iTunes Music Store has achieved in such a short period of time.

對於 iTunes 音樂商店在如此短的時間內取得的成功和好評，我們感到非常高興。

It was a recordbreaking quarter for iPod sales.

這是 iPod 銷售創紀錄的一個季度。

We sold 304,000 units, up from 80,000 units in the March quarter, and 54,000 units in the year-ago quarter.

我們售出了 304,000 台，高於 3 月季度的 80,000 台和去年同期的 54,000 台。

As Steve Jobs announced at our worldwide developer's conference a few weeks ago, Apple shipped its one millionth iPod during the quarter.

正如史蒂夫喬布斯幾週前在我們的全球開發者大會上宣布的那樣，蘋果在本季度出貨了第 100 萬台 iPod。

Through the end of fiscal Q3, Apple had generated revenue on 984,000 of these units.

到第三財季末，蘋果已經為其中的 984,000 台設備創造了收入。

The balance of which included such items as seed and demo units, as well as inventory in our retail stores.

其中的餘額包括種子和演示單元等項目，以及我們零售店的庫存。

It was also a great quarter for the Apple retail stores.

對於蘋果零售店來說，這也是一個很好的季度。

We opened six stores during the quarter, ending with 59, and we opened three more stores early this month for a current total of 62.

我們在本季度開設了 6 家門店，以 59 家結束，本月初我們又開設了 3 家門店，目前總數為 62 家。

Store revenues were $145 million, up $10 million from the March quarter, and ahead of our expectations.

商店收入為 1.45 億美元，比 3 月季度增加 1000 萬美元，超出了我們的預期。

With an average of 55 stores open during the quarter, average quarterly revenue per store was $2.6 million.

本季度平均開設 55 家門店，每家門店的平均季度收入為 260 萬美元。

The retail segment loss narrowed to $2 million from $3 million in the March quarter.

零售部門的虧損從三月季度的 300 萬美元收窄至 200 萬美元。

And the manufacturing profit was $25 million.

製造利潤為2500萬美元。

Traffic through the stores continued to be impressive.

通過商店的客流量繼續令人印象深刻。

And was ahead of year-ago numbers on a same-store basis, driven by strong recent interest in music and the new iPods.

在最近對音樂和新 iPod 的強烈興趣的推動下，同店數據也超過了去年同期。

A total of 3.1 million people visited our stores during the quarter.

本季度共有 310 萬人次光顧我們的門店。

Based on our most recent wave of customer research, about 50% of customers buying Mac systems in our stores did not currently own a Mac.

根據我們最近一波的客戶調查，在我們商店購買 Mac 系統的客戶中，約有 50% 目前沒有 Mac。

The retail segment's quarter culminated in the highly successful opening of our North Michigan Avenue store in Chicago on June 27.

6 月 27 日，我們在芝加哥的北密歇根大道店大獲成功，零售部門的季度達到了高潮。

Tomorrow, on the 21st day of operation of this store, we expect to receive our 100,000th visitor, that's 18 days ahead of of the date we achieved the same milestone at our Soho store in New York City.

明天，在這家商店開業的第 21 天，我們預計將迎來第 100,000 名訪客，這比我們在紐約市 Soho 商店實現相同里程碑的日期提前了 18 天。

Early results from the Michigan Avenue store, coupled with the success we have experienced from our Soho and L.A. growth stores, give us high hopes for our San Francisco and Tokyo stores due to open in 2004.

密歇根大道店的早期成果，再加上我們在 Soho 和 L.A. 增長店所取得的成功，讓我們對將於 2004 年開業的舊金山和東京店寄予厚望。

We expect to have a total of 70 stores open by Thanksgiving this year, compared to 50 as of last Thanksgiving.

我們預計今年感恩節前將有 70 家門店開業，而去年感恩節時只有 50 家。

We are very pleased with our results in the U.S. education market during the quarter.

我們對本季度在美國教育市場的業績感到非常滿意。

Our unit shipments were up 5% over the year-ago quarter.

我們的單位出貨量比去年同期增長了 5%。

While IDC has not yet released its results for the June quarter, its most recent published forecast projects a 19% market decline for the quarter, suggesting a healthy market share increase for Apple, relative to the year-ago quarter.

雖然 IDC 尚未公佈 6 月季度的業績，但其最新發布的預測預計該季度市場將下降 19%，這表明與去年同期相比，蘋果的市場份額增長穩健。

Our focus on mobile computing was a key contributor to the successful results of our education business this quarter.

我們對移動計算的關注是本季度教育業務取得成功的關鍵因素。

Portables accounted for 47% of our total U.S. education units, propelled by larger one-to-one deployments in a variety of institutions across multiple grade levels in both rural and suburban settings.

便攜式設備占我們美國教育單位總數的 47%，這得益於在農村和郊區環境中跨多個年級的各種機構中更大的一對一部署。

We also improved our education market coverage model during the quarter by adding approximately 60 education agents who began selling our solutions to selected institutions.

我們還在本季度通過增加大約 60 家教育代理來改進我們的教育市場覆蓋模型，這些代理開始向選定的機構銷售我們的解決方案。

In terms of geographic performance, U.S. business was strongest.

在地域表現方面，美國業務最為強勁。

The Asia Pacific region was negatively impacted by the SARS virus, and Europe and Japan continue to suffer from relatively weak economic condition.

亞太地區受到SARS病毒的負面影響，歐洲和日本繼續遭受相對疲軟的經濟狀況。

Gross margin was 27.7%, down 60 basis points from the March quarter.

毛利率為 27.7%，比 3 月季度下降 60 個基點。

And operating expenses were relatively even with the March quarter numbers at 419 million as expected.

運營費用相對平穩，3 月季度的數字為 4.19 億，正如預期的那樣。

Other income and expense was 17 million, including 2 million in gains on sales of Apple's remaining holdings in Arm and Earthlink.

其他收入和支出為 1700 萬，其中包括出售蘋果在 Arm 和 Earthlink 中剩餘股份的 200 萬收益。

The effective tax rate was 28%, consistent with our guidance.

有效稅率為 28%，與我們的指引一致。

In terms of the balance sheet, cash was up by $19 million sequentially to 4.545 billion.

資產負債表方面，現金環比增加1900萬美元至45.45億美元。

This represents a fiscal year-to-date increase of $208 million.

這意味著本財年迄今增加了 2.08 億美元。

We continue to be pleased with our working capital management, particularly around accounts receivable and inventory.

我們繼續對我們的營運資金管理感到滿意，特別是在應收賬款和庫存方面。

As expected, sales days outstanding increased sequentially from 30 to 33 days, due to seasonably strong education market buying in the month of June.

正如預期的那樣，由於 6 月份的季節性強勁的教育市場購買，未完成的銷售天數從 30 天連續增加至 33 天。

Inventory declined sequentially from four days to three days.

庫存從四天下降到三天。

The June quarter was an impressive one for Apple, with the announcement of several outstanding new products.

六月季度對蘋果來說是一個令人印象深刻的季度，發布了幾款出色的新產品。

In addition to the iTunes Music Store and the new iPods, we introduced a new version of Final Cut Pro.

除了 iTunes Music Store 和新的 iPod，我們還推出了新版本的 Final Cut Pro。

We also introduced iChat AV and the iSight Video Camera, and we provided a preview of some of the 100-plus new features of Mac OS X Panther, the fourth major release of Mac OS X.

我們還介紹了 iChat AV 和 iSight Video Camera，並提供了 Mac OS X Panther 的 100 多項新功能的預覽，這是 Mac OS X 的第四個主要版本。

And of course, we announced the new Power Mac G5, featuring the world's first 64-bit desktop processor.

當然，我們還發布了新的 Power Mac G5，它配備了世界上第一個 64 位桌面處理器。

We believe that the new G5s coupled with the availability of Quark Express 6, are laying the foundation for future growth in Power Mac sales.

我們相信，新的 G5 加上 Quark Express 6 的推出，正在為 Power Mac 銷售的未來增長奠定基礎。

Looking ahead to the September quarter, I'd like to review our outlook which includes the types of information that Nancy referred to in the safe harbor statement at the beginning of the call.

展望 9 月季度，我想回顧一下我們的前景，其中包括南希在電話會議開始時在安全港聲明中提到的信息類型。

On a sequential basis, we expect a high, single-digit percentage increase in revenues and a slight increase in earnings.

在連續的基礎上，我們預計收入將出現高個位數的百分比增長，而收益將略有增長。

We expect a sequential decline in gross margin percent of about 100 basis points due to lower operating system sales and ramp expenses associated with our new products.

由於與我們的新產品相關的操作系統銷售和斜坡費用下降，我們預計毛利率將連續下降約 100 個基點。

We expect operating expenses to be about $420 million, which excludes approximately $10 million of capitalized costs related to development of Mac OS X Panther, which we publicly demonstrated at our developers conference last month.

我們預計運營費用約為 4.2 億美元，其中不包括我們在上個月的開發者大會上公開展示的與 Mac OS X Panther 開發相關的大約 1000 萬美元的資本化成本。

We expect operating other income and expense to decline to about $10 million due to lower interest rates on our investment portfolio, and we expect the tax rate to continue to be 28%.

由於我們投資組合的利率較低，我們預計其他運營收入和支出將下降至約 1000 萬美元，我們預計稅率將繼續為 28%。

With that, I'd like to open the call to questions.

有了這個，我想打開問題電話。

Thank you, sir.

謝謝你，先生。

Today's question-and-answer session will be conducted electronically.

今天的問答環節將以電子方式進行。

If you'd like to ask a question, please signal by pressing the star key, followed by the digit one on your touchtone telephone.

如果您想提出問題，請按星號鍵，然後按按鍵式電話上的數字 1 發出信號。

If are you using a speakerphone, please make sure your mute function is turned off to ensure sure that your signal will reach our equipment.

如果您使用的是免提電話，請確保您的靜音功能已關閉，以確保您的信號能夠到達我們的設備。

I'll be taking the questions in the order that you signal.

我會按照你發出信號的順序回答問題。

And we'll take as many questions as time permits.

我們會在時間允許的情況下回答盡可能多的問題。

Once again, that is star-one to ask a question.

再一次，這是提出問題的明星。

I'll pause for just a moment to assemble our roster.

我會暫停片刻來整理我們的名單。

We'll take the first question from Rebecca Runkle with Morgan Stanley.

我們將回答 Rebecca Runkle 和摩根士丹利的第一個問題。

This is actually Max Gross calling for Rebecca.

這實際上是馬克斯·格羅斯在呼喚麗貝卡。

Just had a couple of questions, if I may, about gross margins.

如果可以的話，我有幾個關於毛利率的問題。

A little bit about your guidance.

一點關於你的指導。

I was wondering what you were expecting in the component environment and what you saw in the component environment in the June quarter.

我想知道您對組件環境的期望以及您在六月季度的組件環境中看到的情況。

If you could tell us about that a little bit.

如果你能告訴我們一點。

Okay.

好的。

Peter, you want to take the question on the component environment, both for the June quarter and going forward for the September quarter?

Peter，您想回答有關 6 月季度和 9 月季度未來組件環境的問題嗎？

Sure.

當然。

As we -- the last quarter I gave you three areas of commentary on what we expected for the third quarter.

正如我們 - 上個季度，我就我們對第三季度的預期提供了三個方面的評論。

And component costs came in as we anticipated.

組件成本如我們預期的那樣出現。

LCD prices did tighten, as we anticipated in the quarter.

正如我們在本季度所預期的那樣，LCD 價格確實收緊了。

We anticipated that memory prices would trade in a very tight range, and they did.

我們預計內存價格將在非常窄的範圍內交易，而且確實如此。

And we also anticipated that other commodity prices would experience normal rates of decline, and for the most part, that happened.

我們還預計其他大宗商品價格將經歷正常的下跌速度，而且在大多數情況下，這種情況確實發生了。

As we look forward to the fourth quarter, we see an upward pressure on memory prices driven largely by strong demand in notebook and server products against the backdrop of minimal capacity expansion.

在我們展望第四季度時，我們看到內存價格的上漲壓力主要是由於在產能擴張最小的背景下筆記本電腦和服務器產品的強勁需求。

We expect CFT prices have peaked, and we think that all other commodity prices will fall at rates consistent with historical trends.

我們預計 CFT 價格已經見頂，我們認為所有其他商品價格將以與歷史趨勢一致的速度下跌。

I just had another question on the software and services business.

我剛剛對軟件和服務業務提出了另一個問題。

Sure.

當然。

Go ahead.

前進。

That revenue line, it's been tremendous in the last 12 -- last 12 months, up about 29% to the previous last 12 months.

該收入線在過去 12 - 過去 12 個月中非常可觀，比過去 12 個月增長了約 29%。

And just wonder if you could give a little bit more color on what's going on in there.

只是想知道你是否可以為那裡發生的事情提供更多的色彩。

I mean, it's really kept going after Jaguar.

我的意思是，它真的一直在追趕捷豹。

I noticed more Apple applications.

我注意到更多的 Apple 應用程序。

Just wondering if you could give a little more color detail on that particular line segment.

只是想知道您是否可以在該特定線段上提供更多顏色細節。

Well, our Mac OS X sales remained strong in the June quarter.

嗯，我們的 Mac OS X 銷售在 6 月季度保持強勁。

And secondly, we had the new release of Final Cut Pro, which also contributed significantly to our software and other revenue.

其次，我們發布了 Final Cut Pro 的新版本，這也為我們的軟件和其他收入做出了重大貢獻。

Is there anything else you want to add?

你還有什麼要補充的嗎？

I would just add that in our retail stores, sales of [INAUDIBLE] and third-party products did well, in addition to what Fred mentioned.

我只想補充一點，在我們的零售店中，[聽不清] 和第三方產品的銷售表現不錯，除了 Fred 提到的。

Okay.

好的。

All right.

好的。

That's all, thanks a lot.

就是這樣，非常感謝。

Thank you, Max.

謝謝你，馬克斯。

Could we have the next question, please?

請問下一個問題好嗎？

Our next question comes from Richard Gardner with Smith Barney.

我們的下一個問題來自 Smith Barney 的 Richard Gardner。

Hi, Fred, Peter, it's Cynthia.

嗨，弗雷德，彼得，我是辛西婭。

How are you?

你好嗎？

Good, Cynthia

好，辛西婭

Good.

好的。

I was hoping you could comment a little on exiting the quarter, your comfort level on the inventory of the Power Mac G4s.

我希望你能對本季度的退出發表一點評論，你對 Power Mac G4s 庫存的舒適度。

I know you're already taking preorders on a G5.

我知道你已經在接受 G5 的預訂了。

Any color on the profile of the single versus the double CPU?

單 CPU 和雙 CPU 的配置文件上有顏色嗎？

I noticed on the site, I guess the G5 dual was a top-selling item.

我在網站上註意到，我猜 G5 dual 是最暢銷的產品。

Then I had an iTunes followup question.

然後我有一個 iTunes 後續問題。

Let me take the channel inventory.

讓我來盤點一下渠道。

We feel good about where we ended the quarter on channel inventory.

我們對本季度結束時的渠道庫存狀況感到滿意。

As I indicated on the preamble to the call, we actually decreased from the end of last -- from the March quarter to the end of the June quarter, our total global channel inventory by 11,000 units.

正如我在電話會議的序言中所指出的那樣，我們實際上從上一季度末 - 從三月季度到六月季度末，我們的全球渠道總庫存減少了 11,000 件。

We remained well within our, you know, target of four to five weeks of channel inventory.

您知道，我們保持在四到五週的渠道庫存目標之內。

So on the G4, you're also comfortable?

所以在 G4 上，你也舒服嗎？

Very comfortable.

非常舒服。

That was probably the largest single contributor in account, as far as I can recall, for the full, almost the full 11,000 decline.

據我所知，這可能是賬戶中最大的單一貢獻者，幾乎完全下降了 11,000。

And that's one of the reasons that we've reported weaker than otherwise would have revenue units for the G4 Power Mac, because we did take down the channel inventory in anticipation of announcing the G5.

這就是我們報告 G4 Power Mac 的收入單位比其他情況要弱的原因之一，因為我們確實在預期宣布 G5 時取消了渠道庫存。

Great.

偉大的。

And any profile on G5 preorders, at all?

還有任何關於 G5 預購的資料嗎？

Gee, the customer response has been strong.

哎呀，客戶的反應一直很強烈。

They certainly believe that, you know, it's going to be a great product, and has a great potential for enhancing their productivity.

他們當然相信，你知道，這將是一個偉大的產品，並且有很大的潛力來提高他們的生產力。

Great.

偉大的。

And on iTunes, you've given detail before on sale of albums versus individual songs.

在 iTunes 上，您之前已經詳細介紹了專輯與單曲的銷售情況。

I'm curious if you can detail maybe your latest weekly run rate.

我很好奇您是否可以詳細說明您最近的每週運行率。

Now, I -- you know, I don't want to say anything beyond what I did.

現在，我——你知道，我不想說任何超出我所做的事情。

Is that, you know, we've now sold over 6.5 million songs, and don't really want to get into breaking down albums versus songs.

是嗎，你知道，我們現在已經售出了超過 650 萬首歌曲，並且真的不想將專輯與歌曲分開。

Okay.

好的。

And did you -- had you disclosed iPod Window versus Mac for the quarter?

你有沒有披露過本季度 iPod Window 與 Mac 的對比？

I did not.

我沒有。

And in fact, we really don't have that information today, because, as you know, the shrinkwrap iPod you buy has both the iTunes software for the Mac, as well as Music Match Software, right, for Windows.

事實上，我們今天真的沒有這些信息，因為如您所知，您購買的收縮包裝 iPod 既有適用於 Mac 的 iTunes 軟件，也有適用於 Windows 的 Music Match 軟件。

So we don't know until they register, right --

所以我們不知道，直到他們註冊，對 -

Got it --

知道了 -

Which one they are.

他們是哪一個。

Great.

偉大的。

Then last question on education.

然後是關於教育的最後一個問題。

The one-on-one deployments you did this quarter, were they -- how were your actual account wins or was it deployment of older account wins, Fred, in the school systems?

您在本季度進行的一對一部署是——您的實際帳戶獲勝情況如何，或者是在學校系統中部署較舊的帳戶獲勝，弗雷德？

Well, we shipped the second half of the main order for iBooks in the June quarter.

好吧，我們在 6 月季度發貨了 iBooks 主要訂單的後半部分。

I think we started the Schaumburg, Illinois deployment.

我想我們開始了伊利諾伊州紹姆堡的部署。

Still quite a bit to go on that, but we did start that.

還有很多事情要做，但我們確實開始了。

And then there were a couple of other minor deployments, which, you know, basically we haven't announced publicly.

然後還有其他一些小型部署，你知道，基本上我們還沒有公開宣布。

Okay.

好的。

Great.

偉大的。

Thank you.

謝謝你。

Thanks, Cynthia.

謝謝，辛西婭。

Could we have the next question, please?

請問下一個問題好嗎？

The next question is from Michael Hillmeyer with Merrill Lynch.

下一個問題來自美林的 Michael Hillmeyer。

Hi, Fred.

嗨，弗雷德。

Couple of questions, none of which you might actually answer.

幾個問題，你可能沒有真正回答。

But maybe I'll get lucky.

但也許我會走運。

Well, try anyway.

好吧，還是試試吧。

Of course.

當然。

The first is in regards to the profit structure for iTunes song sales.

首先是關於 iTunes 歌曲銷售的利潤結構。

I think you said, you know, back when you introduced the new product, iTunes Music Store, you said at some time down the road on a conference call you would talk about that.

我想你說過，你知道，當你介紹新產品 iTunes 音樂商店時，你曾說過在電話會議上的某個時間你會談論這個。

If you would, that would be great.

如果你願意，那就太好了。

If not, I understand.

如果沒有，我理解。

And then, any color on when the Windows version of iTunes might be showing up?

然後，Windows 版本的 iTunes 何時出現？

That's the first question.

這是第一個問題。

Then the second one is Power Book mix, any color on the 12-inch versus the 17-inch sales there?

然後第二個是 Power Book mix，12 英寸的顏色與 17 英寸的銷售有什麼不同？

Third one, Panther, is that going to support 64-bit apps?

第三個，Panther，它會支持 64 位應用程序嗎？

Panther, what was the question?

豹子，問題是什麼？

Will Panther, will that support 64-bit apps?

Panther 會支持 64 位應用程序嗎？

And then the last one is, what do you think you can do to, sort of, you know, get the iMac back on track or, you know, cheaper prices or newer products there?

最後一個問題是，你認為你能做些什麼來讓 iMac 重回正軌，或者，你知道，那裡有更便宜的價格或更新的產品？

Okay.

好的。

Wow, you asked a lot of questions --

哇，你問了很多問題——

And then you probably won't want to answer some of them.

然後你可能不想回答其中的一些問題。

That's okay.

沒關係。

No.

不。

I -- I'm going to surprise you a little bit.

我——我要給你一點驚喜。

In terms of the -- basically you asked me about the profit structure on iPods?

關於--基本上你問我關於iPod的利潤結構？

No, on the iTunes, the song sales.

不，在 iTunes 上，歌曲銷售。

Yeah.

是的。

Well, basically, as you know, the iTunes Music Store, this was our first quarter, right, introduction.

好吧，基本上，如您所知，iTunes 音樂商店，這是我們的第一季度，對，介紹。

It might surprise you that we were very close to breaking even in our first quarter of the iTunes Music store.

您可能會驚訝於我們在 iTunes 音樂商店的第一季度非常接近收支平衡。

Okay.

好的。

That was your first question.

那是你的第一個問題。

And any idea like what your general gross margin is on those?

有什麼想法，比如你的一般毛利率是多少？

Yeah, I'm not going to get into that.

是的，我不打算談這個。

Sorry.

對不起。

Okay.

好的。

In terms of the Windows version, still on track to, you know, be launched before the end of calendar year.

就 Windows 版本而言，您知道，它仍有望在日曆年年底之前推出。

Okay.

好的。

In terms of Power Book mix, I don't know that we want to get into, for competitive reasons, giving you, you know, breakdown by mix.

就 Power Book 組合而言，我不知道出於競爭原因，我們想要進入，你知道，按組合細分。

I'm sorry.

對不起。

I just don't think it's a good thing for us to do.

我只是不認為這對我們來說是件好事。

Okay.

好的。

In terms of Panther, again, I'm not the technology guy.

再說一次，就 Panther 而言，我不是技術專家。

But it's my understanding that, you know, it will support 64-bit apps.

但據我了解，您知道，它將支持 64 位應用程序。

Okay.

好的。

Cool.

涼爽的。

And your last question on the iMac --

還有你關於 iMac 的最後一個問題——

Yeah?

是的？

You know, it's -- I think what's been happening -- I'll just make a couple of comments.

你知道，這是--我認為正在發生的事情--我將發表一些評論。

Is that, first of all, the flat-panel iMac is in its sixth quarter, right, since being introduced.

是嗎，首先，平板 iMac 自推出以來已進入第六季度。

And, you know, it's still performing well.

而且，你知道，它仍然表現良好。

But, you know, there's, clearly, a shift going on in the marketplace, not just for Apple, to portables from desktops.

但是，你知道，很明顯，市場正在發生轉變，不僅僅是針對蘋果，從台式機轉向便攜式設備。

And then finally, what I would say is that, you know, its price point starts at $1299.

最後，我要說的是，你知道，它的起價為 1299 美元。

So, I think it's capturing a fairly significant and reasonable market share in its price band.

因此，我認為它在其價格範圍內佔據了相當重要且合理的市場份額。

Okay.

好的。

Cool.

涼爽的。

Thank you.

謝謝你。

Thanks, Michael.

謝謝，邁克爾。

Could we have the next question, please?

請問下一個問題好嗎？

We'll go next to Kevin Hunt with Thomas Weisel Partners.

我們將與 Thomas Weisel Partners 一起討論 Kevin Hunt。

Thanks.

謝謝。

I want to follow up on the comment about the laptop shift, Fred.

Fred，我想跟進有關筆記本電腦轉移的評論。

Clearly, your business shifted that way pretty heavily this quarter.

顯然，您的業務在本季度發生了相當大的變化。

But wondering how much that was just, like you said, because of, maybe, G4 being kind of weak.

但是想知道這只是多少，就像你說的那樣，因為也許 G4 有點弱。

And how much was due to you pushing the laptops into the education market?

您將筆記本電腦推向教育市場的原因有多少？

I mean, can you, kind of like, give us what your outlook is longer-term of what you think the shift is --

我的意思是，你能不能告訴我們你認為轉變的長期前景是什麼——

Yeah, I harken back to Steve Jobs' statement at Mac World, San Francisco, in January when he said that this was going to be the year of portables for Apple.

是的，我想起了史蒂夫·喬布斯 1 月份在舊金山 Mac World 上的聲明，當時他說這將是蘋果便攜設備的一年。

You know, clearly, it is a strategic focus for Apple, overall.

你知道，總體而言，這是蘋果的戰略重點。

And clearly, a focus of our education business, which we're extremely pleased by the, you know, the 5% year-over-year unit sales growth in education, in a very tough funding environment today.

顯然，這是我們教育業務的一個重點，在當今非常艱難的融資環境中，我們對教育部門銷售額同比增長 5% 感到非常高興。

And we attribute, you know, a significant part of that result to our one-on-one initiatives in putting a portable in the hands, you know, for districts that see the benefit of enhancing the learning process and improving test scores, and putting a portable in the hands of every student and every teacher.

你知道，我們將這一結果的重要部分歸功於我們一對一的舉措，即為那些看到加強學習過程和提高考試成績的好處的地區提供便攜式便攜設備，並把每個學生和每個老師都可以隨身攜帶。

So clearly, I think those are contributing factors.

很明顯，我認為這些都是促成因素。

But then you've got, kind of, a macro industry phenomenon here in that there is a general movement to portables from desktops.

但是，您在這裡看到了一種宏觀的行業現象，即從台式機到便攜式設備的普遍運動。

I think with the size of LCDs and portables today, there are people who are buying them as replacement for desktop systems.

我認為今天的 LCD 和便攜式設備的尺寸，有人購買它們作為桌面系統的替代品。

So I think all of those factors are contributing to it.

所以我認為所有這些因素都促成了它。

And clearly, we had a record quarter with 46% of our total sales, unit sales being portables.

很明顯，我們有一個創紀錄的季度，佔總銷售額的 46%，單位銷售額是便攜式的。

Okay.

好的。

Also, can I followup on the earlier -- the iTunes question?

另外，我可以跟進之前的 iTunes 問題嗎？

Can we assume that the information you gave on the call is all you're going to give, any commentary on profitability of that business or outlook for it, anything like that?

我們是否可以假設您在電話會議上提供的信息就是您將要提供的全部信息，關於該業務的盈利能力或前景的任何評論，諸如此類？

As I said, we, in our first quarter of having the music store open, we were close to break even.

正如我所說，在音樂商店開業的第一季度，我們接近收支平衡。

Okay.

好的。

Thanks, Kevin.

謝謝，凱文。

Could we have the next question, please?

請問下一個問題好嗎？

Now we'll go to Andrew Neff with Bear, Stearns.

現在我們將和貝爾一起去安德魯·內夫，斯特恩斯。

Sure.

當然。

If I could just a question on the international and mix.

如果我可以就國際和混合的問題。

It looks like the international year-over-year was fairly soft in the growth in the Americas, could you go into more of what's going on internationally and maybe outlook for that?

看起來美洲的國際同比增長相當疲軟，您能否深入了解國際上正在發生的事情以及對此的展望？

Well, here's what I'd say.

好吧，這就是我要說的。

If you go back to the prior year, as I recall, 42% of our sales were to international, compared to 39% of this quarter.

如果你回到前一年，我記得，我們 42% 的銷售額來自國際，而本季度這一比例為 39%。

And I'd say this is probably the low point in mix of international sales, typically because of the strong education quarter in the U.S.

我想說這可能是國際銷售組合的低點，通常是因為美國教育季度強勁。

But then I would combine that with saying that you've got a relatively economy in both Japan and Europe, as well as, although I think this isn't as significant, and the least important factor, you had the effect of SARS in certain Asia Pacific markets.

但是然後我會結合說你在日本和歐洲都有一個相對經濟，雖然我認為這不是那麼重要，也是最不重要的因素，但你在某些方面受到了 SARS 的影響亞太市場。

Okay.

好的。

Then a followup just in terms of -- I know you said you, sort of, didn't want to address this.

然後跟進——我知道你說過你不想解決這個問題。

In terms of iTunes, can you give us any sense about how, you know, any way that we can factor into our expectations?

就 iTunes 而言，您能否告訴我們如何將我們的期望考慮在內？

And another question in terms of iPod ASP.

另一個關於 iPod ASP 的問題。

Can you give us an order of magnitude of what we should look for for that?

你能給我們一個我們應該尋找的數量級嗎？

I'm sorry, the first was on iTunes?

對不起，第一個是在 iTunes 上？

On iTunes, just trying to understand the economics of that.

在 iTunes 上，只是想了解其中的經濟性。

Yeah.

是的。

Well, here's the thing.

好吧，事情就是這樣。

You know, clearly, you know, we're addressing a minority part of the market today of 5% or less, right, with it only being available on the Mac platform.

你知道，很清楚，你知道，我們正在解決當今市場的 5% 或更少的少數部分，對，它只在 Mac 平台上可用。

Window users today cannot access our music store.

今天的 Window 用戶無法訪問我們的音樂商店。

By the end of the calendar year, you know, because we're courting iTunes software to Windows, then, you know, all of those other 95% of the Windows world are going to be able to access our music store.

到日曆年年底，你知道，因為我們正在向 Windows 尋求 iTunes 軟件，然後，你知道，Windows 世界的所有其他 95% 都將能夠訪問我們的音樂商店。

And, not only can they buy music, right, in terms of the songs or albums, but they can also have that experience and say, you know, I love the music store.

而且，他們不僅可以購買音樂，對，就歌曲或專輯而言，而且他們也可以有這種體驗並說，你知道，我喜歡音樂商店。

I think I want to take my music library with me on the road.

我想我想在路上帶著我的音樂庫。

And so, we think it will be a Trojan horse for people even buying more on the Windows side of our iPods.

因此，我們認為這將成為人們在我們的 iPod 的 Windows 端購買更多產品的特洛伊木馬。

And then lastly, which is less certain, over time, they love the experience of not only our music store, but our iPod, then they may the next time they decide to buy a second or third computer for their home, they may decide to buy Mac.

最後，不太確定的是，隨著時間的推移，他們不僅喜歡我們的音樂商店，還喜歡我們的 iPod，那麼他們可能下次決定為家裡購買第二或第三台電腦時，他們可能會決定買麥克。

So, we think that there is a synergistic effect there.

因此，我們認為那裡存在協同效應。

[INAUDIBLE] songs, is there any way we can go through the economics of what Apple -- what the contribution is?

[聽不清] 歌曲，有什麼方法可以讓我們了解一下 Apple 的經濟學——貢獻是什麼？

For competitive reasons, we [INAUDIBLE] know that.

出於競爭原因，我們 [聽不清] 知道這一點。

I just don't want to do that.

我只是不想那樣做。

I'm sorry.

對不起。

And just on the iPod ASPs, any order of magnitude of what that is, or --?

就在 iPod ASP 上，任何數量級的東西，或者——？

Peter, you want to comment on it?

彼得，你想評論一下嗎？

I think for competitive reasons, we don't want to comment, because that would, honestly, Andy, give our mix away, which we don't want to do right now.

我認為出於競爭原因，我們不想發表評論，因為老實說，安迪會洩露我們的混音，我們現在不想這樣做。

Okay.

好的。

Thank you, gentlemen.

謝謝你們，先生們。

Thanks, Andy.

謝謝，安迪。

Could we have the next question, please?

請問下一個問題好嗎？

We'll go now to Bill Finley with STN Midwest Research.

我們現在將與 STN 中西部研究部的 Bill Finley 聯繫。

Good afternoon.

下午好。

A couple of questions for clarification on the new G5.

關於新 G5 的幾個問題需要澄清。

I know we've asked the backlog question.

我知道我們已經問了積壓問題。

What type of ramp are you folks expecting in terms of when first bulk shipments will arrive, when demo units will be in the stores?

就第一批大宗貨物何時到達，演示單元何時進入商店而言，你們期待什麼類型的坡道？

And what about meeting up with the seed unit demand before actual units hit the stores?

在實際單位上市之前滿足種子單位需求又如何呢？

Peter, you want to answer that?

彼得，你想回答這個問題嗎？

Sure.

當然。

As Steve commented, at the developers conference, we expect to begin shipping in the month of August.

正如史蒂夫所說，在開發者大會上，我們預計將在 8 月份開始發貨。

And we expect August and September to be busy months.

我們預計 8 月和 9 月將是忙碌的幾個月。

But in terms of understanding that you need to put in demo units, seed units.

但就理解而言，您需要放入演示單元、種子單元。

You also need to feed units to the developer community.

您還需要向開發者社區提供單元。

Any additional flavor on when they'll be in stores?

他們什麼時候會在商店裡有什麼額外的味道嗎？

After the initial demand of all the other folks is taken care of?

在所有其他人的最初需求得到照顧之後？

Sure.

當然。

Many of the areas that you mentioned we give the first production unit off the line to.

您提到的許多領域，我們將第一個生產單元用於下線。

Such as seeds and developers.

比如種子和開發商。

So -- and press.

所以——然後按下。

They tend to get them first.

他們傾向於先得到它們。

And then we get them into the channel, and to the customers' hands as quickly as we can.

然後我們讓他們盡快進入渠道，並儘快送到客戶手中。

Okay.

好的。

Followup question on software.

關於軟件的後續問題。

You had mentioned Quark Express, specifically.

你特別提到了 Quark Express。

Any additional flavor on how it's been selling in the stores or apple.com?

關於它在商店或 apple.com 上的銷售情況還有什麼其他的味道嗎？

Don't have any data available to report to you today on that.

今天沒有任何數據可以向您報告。

Okay.

好的。

And then one last followup on the apple.com question.

然後是對 apple.com 問題的最後一次跟進。

Can you give any addition flavor or details in terms of on-line sales for the latest quarter?

您能否就最近一季度的在線銷售提供任何額外的風味或細節？

Want to take that, Peter?

想拿那個嗎，彼得？

Sure.

當然。

No -- just to be clear, through the -- are you talking about direct sales or sales through the store, including channel orders?

不——只是為了明確一點，通過——你是在談論直接銷售還是通過商店進行銷售，包括渠道訂單？

Direct.

直接的。

Okay.

好的。

We measure direct, including education, our internet direct sales to businesses and consumers, and the Apple retail stores, and that number for the third quarter was 42%, which was up from 36% in the year-ago quarter.

我們衡量了直接（包括教育）、我們對企業和消費者的互聯網直接銷售以及蘋果零售店，第三季度的這一數字為 42%，高於去年同期的 36%。

Okay.

好的。

And one last question on portables.

最後一個關於便攜式的問題。

You had mentioned in the previous call, that you had left the previous quarter with a fair amount of backlog coming into the current quarter.

您在上一次電話會議中提到，您在上一季度留下了相當數量的積壓工作進入本季度。

Can you give any details on what the backlog was on the new 12- and 17-inch coming into the quarter?

您能否詳細說明本季度新推出的 12 英寸和 17 英寸的積壓情況？

On the new Power Books?

在新的 Power Books 上？

Again, for competitive reasons, we don't want to go into that.

同樣，出於競爭原因，我們不想涉足這個問題。

I'm sorry.

對不起。

Okay.

好的。

Thank you.

謝謝你。

Thanks, Bill.

謝謝，比爾。

Could we have the next question, please?

請問下一個問題好嗎？

Our next question is from Jonathan Geurkink with Ragen MacKenzie.

我們的下一個問題來自 Jonathan Geurkink 和 Ragen MacKenzie。

Yeah, hi.

是的，你好。

Most of them have been answered.

他們中的大多數都已得到答复。

Just, any sense for gross margin on the G5 machines?

只是，對 G5 機器的毛利率有任何意義嗎？

If you could give us any color there, range, what have you?

如果你能給我們任何顏色，範圍，你有什麼？

Yeah, again, I'm going to have to give you, "I'm sorry" again.

是的，再一次，我將不得不再次對你說“對不起”。

I don't want to go, for competitive reasons, into giving gross margins on our various product line.

出於競爭原因，我不想為我們的各種產品線提供毛利率。

Thank you.

謝謝你。

Okay.

好的。

Thank you, Jonathan.

謝謝你，喬納森。

Could we have the next question, please?

請問下一個問題好嗎？

Our next question is from Charles Wolf with Needham & Company.

我們的下一個問題來自Needham & Company 的Charles Wolf。

I'm going to try to ask a question you might answer this time.

我將嘗試問一個你這次可能會回答的問題。

Okay, Charles.

好的，查爾斯。

Be the first time in a year, but -- I --

一年來第一次，但是——我——

Don't take it personally.

不要個人認為。

No, I don't.

不，我沒有。

I don't.

我不。

But, I have, sort of, one-part, two-part questions.

但是，我有一個部分，兩部分的問題。

What was your head count at the end of the quarter?

本季度末您的人數是多少？

Okay?

好的？

That one's easy.

那很容易。

Yeah.

是的。

And I'm going to throw that one to Peter.

我要把那個扔給彼得。

What's your second question?

你的第二個問題是什麼？

How many employees do you have full time equivalent in the Apple stores now?

您現在在 Apple 商店有多少全職員工？

Okay.

好的。

Well -- while Peter's looking for that, I'm going to give you an approximation.

好吧——雖然彼得正在尋找那個，我會給你一個近似值。

I believe that we have over 1,200 full-time equivalents in our Apple retail stores.

我相信我們的 Apple 零售店有超過 1,200 名全職員工。

So that's part of SG&A in terms of expenses?

那麼就費用而言，這是 SG&A 的一部分嗎？

That's correct.

這是正確的。

Now, can we infer from your guidance, your revenue guidance for the September quarter that the orders for the G5 are pretty strong?

現在，我們能否從您的指導和您對 9 月季度的收入指導中推斷出 G5 的訂單非常強勁？

Charlie, could you repeat that question, please?

查理，你能重複一下這個問題嗎？

You know, you're guiding a fairly aggressive increase in revenues, sequentially, at least from June to --

你知道，至少從六月到——

Sure --

當然 -

Can I infer from that that the orders for the new G5 are pretty strong?

我能從中推斷出新 G5 的訂單非常強勁嗎？

Let me tell you where I think, qualitatively, the growth is going to come from.

讓我告訴你我認為，從質量上講，增長將來自哪裡。

Yes.

是的。

Okay.

好的。

I think, clearly, the G5 Power Mac line and associated displays, that's the first big driver of growth.

我認為，很明顯，G5 Power Mac 系列和相關顯示器是增長的第一大驅動力。

I think we're going to achieve, secondly, some good growth in our retail business, our Apple retail stores.

其次，我認為我們將在我們的零售業務、我們的 Apple 零售店實現一些良好的增長。

They have more stores open, and they're planning on opening, you know, more this quarter.

他們開設了更多商店，並且他們計劃在本季度開設更多商店。

And then you've got the back-to-school season that will help there, too.

然後，您將迎來返校季，這也會有所幫助。

And then I -- we expect another continued strong, you know, result in terms of sales from our portables and our iPod business.

然後我 - 我們預計我們的便攜式設備和 iPod 業務的銷售將繼續保持強勁勢頭。

Okay.

好的。

And do you have that total head count number?

你有總人數嗎？

Yes, we had a little over 10,500 permanent employees.

是的，我們有超過 10,500 名正式員工。

And a little under 2,000 temporaries.

還有不到 2,000 名臨時工。

Okay.

好的。

Thanks, Peter.

謝謝，彼得。

Yeah.

是的。

Okay.

好的。

Thanks, Charlie.

謝謝，查理。

Could we have the next question, please?

請問下一個問題好嗎？

Once again, if you'd like to ask a question on today's conference, please press star one on your touchtone telephone.

再次，如果您想就今天的會議提出問題，請在您的按鍵式電話上按星號。

And we go now to Kevin McCarthy with Credit Suisse First Boston.

現在我們去瑞士信貸第一波士頓的凱文麥卡錫。

Yes, hi.

是的，你好。

Thanks.

謝謝。

Fred, I noticed that your op ex grew -- will grow probably around 8% versus 7% revenue growth this year.

弗雷德，我注意到你的運營前增長——可能會增長 8% 左右，而今年的收入增長為 7%。

Is it fair to think, going forward, that you guys are going to map your operating expense growth to revenues within the ballpark, or can we look forward to another cost reduction initiative at some point in the future to start to see some better operating profit growth on your revenues?

是否公平地認為，未來，你們會將運營費用增長映射到球場內的收入，或者我們是否可以期待在未來某個時候採取另一項降低成本的舉措，開始看到一些更好的運營利潤收入增長？

Well, I think there's going to be operating margin expansion, to your point.

好吧，就你的觀點而言，我認為營業利潤率將會擴大。

I think what you're seeing is that, you know, if you're growing a company, let's say, like in 2002 we grew 7% and, you know, we're on track to, you know, have a similar year this year, right?

我想你看到的是，你知道，如果你正在發展一家公司，比方說，就像 2002 年我們增長了 7%，你知道，我們正步入正軌，你知道，有類似的一年今年對吧？

In terms of growth year-over-year.

就同比增長而言。

And, obviously, our goal, and, obviously, this is not a forecast, but our goal would be, as we look to 2004, would be to see if we can't accelerate, you know, our growth.

而且，很明顯，我們的目標，很明顯，這不是一個預測，但我們的目標是，當我們展望 2004 年時，看看我們是否不能加速，你知道，我們的增長。

And if you can accelerate the company's growth to a double-digit growth level, again, conceptually, there should be some good operating margin expansion.

而且，如果您可以將公司的增長加速到兩位數的增長水平，那麼從概念上講，應該會有一些良好的營業利潤率擴張。

You're beginning to see our operating margin climb up when the first time in a few quarters when we were actually making money at the operating line before, you know, the interest income, right?

你開始看到我們的營業利潤率在幾個季度以來第一次攀升，而我們之前實際上在運營線上賺錢，你知道，利息收入，對吧？

And so, bottom line is that the other thing you've got to consider is that the growth in operating expenses are heavily coming from our new retail stores we're rolling out, which hit the SG&A line, right, mainly selling expenses, with now over 1,200 employees in our retail stores.

因此，最重要的是，您必須考慮的另一件事是，運營費用的增長主要來自我們正在推出的新零售店，這觸及了 SG&A 線，對，主要是銷售費用，現在我們的零售店有 1,200 多名員工。

That's been, you know, a vector that's causing our operating expenses to go up.

你知道，這一直是導致我們運營費用上升的媒介。

On the other hand, there's a favorable impact on gross margins from our retail stores because you eliminate the channel margin.

另一方面，我們的零售店對毛利率產生了有利影響，因為您消除了渠道利潤率。

So, but having said all of that, I look prospectively as we're able to, you know, hopefully increase the top-line growth rate to see some nice operating margin expansion.

所以，但說了這麼多，我期待著我們能夠，你知道，希望提高收入增長率，看到一些不錯的營業利潤率增長。

Great, thanks.

太謝謝了。

Thanks, Kevin.

謝謝，凱文。

Could we have the next question, please?

請問下一個問題好嗎？

The next question is from Richard Chu with S.G. Cowen.

下一個問題來自 Richard Chu 和 S.G. Cowen。

A few quick questions.

幾個快速的問題。

First of all, with Power Mac and with G5, how realistic is it to think in terms of getting back, over time, to the 300,000-per-quarter levels that you had some years back?

首先，使用 Power Mac 和 G5，隨著時間的推移，回到幾年前的每季度 300,000 台的水平有多現實？

Or have the market dynamics, really, semi-permanently changed that that you really don't think that will ever happen?

還是市場動態，真的，半永久性地改變了你真的認為這不會發生？

Well, you know, it's going to be kind of a hybrid answer here.

好吧，你知道，這將是一種混合的答案。

If you go back three years ago, I believe it may have either been the June or September quarter of fiscal 2000, we hit around 351,000 units of Power Mac sales, I'm speaking from memory here.

如果你回到三年前，我相信它可能是 2000 財年的六月或九月季度，我們的 Power Mac 銷量達到了大約 351,000 台，我在這裡是憑記憶說的。

But I think that's close --

但我認為這很接近——

Yes.

是的。

And I don't think we're going to get back to that level, to start the answer, because what's happened since then is, you had this big movement toward portables, right?

而且我認為我們不會回到那個水平，開始回答問題，因為從那以後發生的事情是，你對便攜式設備有了很大的發展，對吧？

And you now see Apple with this incredible 17-inch Power Book, which, obviously, is very attractive to some people in the creative market sets, for example, the professionals, that previously would want a Power Mac system.

您現在看到 Apple 推出了這款令人難以置信的 17 英寸 Power Book，顯然它對創意市場中的某些人非常有吸引力，例如專業人士，他們以前想要 Power Mac 系統。

On the other hand, you know, we've dropped down this last quarter below 150,000.

另一方面，你知道，上個季度我們已經跌至 150,000 以下。

So we're less than half where we were three years ago.

所以我們比三年前少了一半。

And clearly, I think the G5 Power Mac is going to rebound.

很明顯，我認為 G5 Power Mac 將會反彈。

The question is, how much?

問題是，多少錢？

I don't think it will go back to 350,000 a quarter.

我認為它不會回到每季度 350,000 的水平。

Do I think we can get it north of 200,000?

我認為我們可以把它弄到 200,000 以北嗎？

Absolutely.

絕對地。

Okay.

好的。

That's helpful.

這很有幫助。

And second, if I can follow on, you were about to comment on iPod profit structures.

其次，如果我可以繼續，您將要評論 iPod 的利潤結構。

And the question shifted to iTunes.

問題轉移到了 iTunes。

Could you go ahead and expand on that, and, as you do that, can you also comment on whether iPod lead times have changed in any fashion as you traversed through the June quarter.

您能否繼續對此進行擴展，並且在您這樣做時，您是否還可以評論一下 iPod 交貨時間是否在您穿越 6 月季度時發生了任何變化。

And somebody asked the question about Windows version.

有人問了關於 Windows 版本的問題。

Can you have -- do you have any indication from USB downloads of what the Window mix might have been?

您能否從 USB 下載中獲得任何有關 Window mix 可能是什麼的跡象？

Yes.

是的。

I don't want to get into, you know, profit margins on our iPod any more than, you know, I do in any of our other products.

我不想進入，你知道，我們的 iPod 的利潤率，你知道，我在我們的任何其他產品中所做的。

Other than to say we're very satisfied with the margin level, and, you know, it's slightly below what our overall, you know, hardware gross margins for the company are.

除了說我們對利潤率水平非常滿意，而且，你知道，它略低於我們的整體，你知道，公司的硬件毛利率。

But at very acceptable levels.

但在非常可接受的水平。

In terms of lead times on the iPod, you know, we had difficulty keeping up with demand last quarter.

就 iPod 的交貨時間而言，你知道，上個季度我們很難跟上需求。

Peter, I don't know if you want to give any more color on iPod lead times.

彼得，我不知道你是否想為 iPod 交貨時間提供更多顏色。

But --

但 -

Richard, I'm not sure I understand your question on lead times.

理查德，我不確定我是否理解你關於交貨時間的問題。

Could --

可以 -

I was wondering whether the dynamic [INAUDIBLE] lead times could come back to normal as you exited the quarter?

我想知道當您退出本季度時，動態 [聽不清] 交貨時間是否會恢復正常？

I think he's asking, in other words from the time of order to shipment, you know, what are we -- if we were quoting x number of weeks before on an order, what are we quoting how?

我想他是在問，換句話說，從訂購到發貨，你知道，我們是什麼——如果我們在訂單上引用 x 週前，我們如何引用？

I think -- is that what you're asking?

我想——這就是你要問的嗎？

Yes, yes.

是的是的。

Okay.

好的。

Throughout our third quarter, we were constrained on the iPods.

在整個第三季度，我們都受制於 iPod。

Sales were just phenomenal.

銷售簡直是驚人的。

We were working as hard as we could all quarter to keep up with them.

我們一直在努力工作以跟上他們的步伐。

Okay.

好的。

Any indication, again, on the Windows mix by USB downloads?

再次通過 USB 下載對 Windows 組合有任何指示嗎？

Uh -- no.

呃——不。

Okay.

好的。

And then finally if I can -- I promise this is the last one.

最後，如果可以的話- 我保證這是最後一個。

On iTunes on Windows, did you -- can you talk about how you might price that, if at all?

在 Windows 上的 iTunes 上，你是否——你能談談你如何定價，如果有的話？

No.

不。

Not only do we not talk about future products, but we don't talk about future prices.

我們不僅不談論未來的產品，而且也不談論未來的價格。

Okay.

好的。

Thank you very much.

非常感謝。

Okay.

好的。

Thanks, Richard.

謝謝，理查德。

Could we have the next question, please?

請問下一個問題好嗎？

We'll return to Richard Gardner with Smith Barney.

我們將與 Smith Barney 一起回到 Richard Gardner。

Hi.

你好。

Just a followup question.

只是一個後續問題。

We just got off the IBM call, and they were a bit light in the microelectronics area.

我們剛打完 IBM 的電話，他們在微電子領域還比較輕鬆。

And they talked about some yield issues on their new process, which the G5 is being built on.

他們還談到了 G5 正在構建的新工藝的一些良率問題。

And I'm just wondering how concerned you are that you might not be able to take care of demand for the G5 product in September.

我只是想知道你有多擔心你可能無法滿足 9 月份對 G5 產品的需求。

And I think given the revenue outlook to an earlier question, you need a pretty nice sequential uptick in G4, G5 shipments this quarter to hit that revenue expectation.

而且我認為考慮到先前問題的收入前景，本季度 G4、G5 的出貨量需要相當不錯的連續增長才能達到收入預期。

So any color on that would be helpful.

所以上面的任何顏色都會有幫助。

Well, obviously, whenever you ramp a major new product like the G5 Power Mac, there are always schedule risks associated with that.

好吧，很明顯，每當你推出像 G5 Power Mac 這樣的主要新產品時，總會有與之相關的進度風險。

But having said that, we have a lot of confidence in IBM's manufacturing capabilities.

不過話雖如此，我們對IBM的製造能力還是很有信心的。

And as we previously stated, we expect to begin shipping the Power Mac G5s in August.

正如我們之前所說，我們預計將在 8 月開始出貨 Power Mac G5s。

Whether or not we're going to be able to, you know, keep up with demand, and whether availability of the microprocessor will be sufficient to meet demand, I can't tell you sitting here today.

無論我們是否能夠，你知道，跟上需求，以及微處理器的可用性是否足以滿足需求，我今天不能告訴你坐在這裡。

All right, Fred.

好吧，弗雷德。

Thanks.

謝謝。

Thanks, Rich.

謝謝，里奇。

Could we have the next question, please?

請問下一個問題好嗎？

Our next question comes from Denise Parmigiani with Fulcrum Partners

我們的下一個問題來自 Fulcrum Partners 的 Denise Parmigiani

Hi, my question's, actually, already been answered.

嗨，我的問題實際上已經得到了回答。

Thank you.

謝謝你。

Okay.

好的。

Thanks.

謝謝。

Could we have the next question, please?

請問下一個問題好嗎？

We'll move on to Jacob Calderon with Harvest Equity Research.

我們將繼續討論 Harvest Equity Research 的 Jacob Calderon。

Hello, gentlemen, gentlewoman.

你好，先生們，女士們。

Wanted to ask about international retail stores and when we would begin to see some major efforts in that area?

想問一下國際零售店，我們什麼時候開始看到該領域的一些重大努力？

Well, we have previously announced that we're planning to open, early next year, our first store in Japan, in Tokyo on the Ginza.

嗯，我們之前已經宣布，我們計劃明年初在東京的銀座開設我們在日本的第一家商店。

Okay.

好的。

My second question was regarding, do you guys -- have you announced, or are you planning to announce, any products that will address the new home multimedia gateways that are now being contemplated in the industry for the Christmas season?

我的第二個問題是關於你們——你們是否已經宣布或計劃宣布任何產品將解決業界目前正在考慮在聖誕節期間推出的新家庭多媒體網關？

Sorry, again.

再次抱歉。

We just don't talk about future products.

我們只是不談論未來的產品。

Okay.

好的。

Thank you very much.

非常感謝。

Thank you.

謝謝你。

Thanks, Jacob.

謝謝，雅各布。

And thanks to everyone for joining us today.

感謝大家今天加入我們。

A recording of this call will be available for replay via telephone for seven days beginning at 5:30 p.m.

從下午 5 點 30 分開始，7 天內可以通過電話重播此次通話的錄音。

Pacific time today.

今天太平洋時間。

And the replay number is 719-457-0820.

重播號碼是719-457-0820。

Confirmation code is 337741.

確認碼是 337741。

And a replay of the audio webcast of the call will also be available beginning at approximately 5:30 p.m.

下午 5 點 30 分左右開始重播電話會議的音頻網絡廣播。

Pacific time today at www.apple.com/investor.

今天太平洋時間 www.apple.com/investor。

And that will remain available for approximately 12 months.

這將在大約 12 個月內保持可用。

Members of the press with additional questions can contact Lynn Fox at 408-974-6209.

有其他問題的媒體成員可以致電 408-974-6209 聯繫 Lynn Fox。

And financial analysts can contact Joan Hoover, or me, with additional questions.

如果有其他問題，金融分析師可以聯繫 Joan Hoover 或我。

Joan is at 408-974-4570.

瓊的電話是 408-974-4570。

And I'm at 408-974-5420.

我的電話是 408-974-5420。

Thanks again for joining us.

再次感謝您加入我們。

That does conclude today's conference.

今天的會議到此結束。

Thank you for your participation.

感謝您的參與。

You may disconnect at this time.

此時您可以斷開連接。