蘋果 (AAPL) 2004 Q1 法說會逐字稿

Good day, everyone, and welcome to this Apple Computer conference call to discuss first quarter financial results.

大家好，歡迎參加 Apple Computer 電話會議，討論第一季度的財務業績。

Today's call is being recorded.

今天的電話正在錄音。

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

在這個時候，我想把電話轉給公司財務和投資者關係高級總監 Nancy Paxton 女士進行開場白和介紹。

Please go ahead.

請繼續。

Thank you.

謝謝你。

Good afternoon and thanks to everyone for joining us today.

下午好，感謝大家今天加入我們。

Apple issued its first quarter earnings press release at approximately 1:30 P.M.

蘋果公司在下午 1:30 左右發布了第一季度財報新聞稿。

Pacific time today and the earnings press release and financials are available on First Call as well as Apple's website.

太平洋時間今天和財報新聞稿和財務數據可在 First Call 和 Apple 網站上找到。

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

今天發言的有 Apple 首席財務官 Fred Anderson 和 GE，財務高級副總裁 Peter Oppenheimer 和副總裁兼企業財務主管 Gary Wistler 將與分析師一起參加問答環節。

Please note that some of the information you'll hear during this call consists of forward-looking statements regarding revenue, gross margin, operating expenses, other income and expense, taxes, products, promotions, Apple's retail initiatives, debt retirement and earnings.

請注意，您將在本次電話會議中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、稅收、產品、促銷、Apple 的零售計劃、債務償還和收益的前瞻性陳述。

Actual results or trends could differ materially from our forecast.

實際結果或趨勢可能與我們的預測大相徑庭。

For more information please refer to pages 31 through 39 of Apple form 10-K for the year ended September 27, 2003.

如需更多信息，請參閱截至 2003 年 9 月 27 日的年度 Apple 表格 10-K 第 31 至 39 頁。

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

另請注意，如果非 GAAP 財務指標包含在今天的電話會議中，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 don't anticipate providing nonGAAP measures, should we provide them a reconciliation of the GAAP and nonGAAP measures will be posted on Apple's website at www.apple.com/investor.

雖然我們預計不會提供 nonGAAP 措施，但如果我們向他們提供 GAAP 和 nonGAAP 措施的對賬，我們將在 Apple 的網站 www.apple.com/investor 上發布。

In connection with SEC rules on corporate disclosure, Apple is making this analyst 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。

With that, I'd 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。

We are very pleased with the results of our first fiscal quarter which exceeded our guidance.

我們對第一財季超出我們預期的業績感到非常滿意。

Revenue of 2 billion 6 million was up 36% year over year and represented Apple's highest quarterly revenue in 4 years.

20 億 600 萬的收入同比增長 36%，是蘋果 4 年來最高的季度收入。

Net income was 63 million or 17 cents per diluted share.

淨收入為 6300 萬或每股攤薄收益 17 美分。

These GAAP results include an after tax investment gain of 3 million which increased earnings by 1 cent per share.

這些 GAAP 結果包括 300 萬的稅後投資收益，每股收益增加了 1 美分。

We sold 829,000 Macintosh units and 733 iPods during the quarter.

我們在本季度售出了 829,000 台 Macintosh 設備和 733 台 iPod。

That represents a year over year increase of 12% for CPU units and 35% for iPod shipments.

這意味著 CPU 單元的出貨量同比增長 12%，iPod 出貨量同比增長 35%。

In addition to iPods, strong sales of peripherals and software, particularly Panther upgrades, drove revenue growth substantially higher than CPU units growth during the quarter.

除 iPod 外，外圍設備和軟件的強勁銷售，尤其是 Panther 升級，推動了本季度收入增長遠高於 CPU 單位增長。

Ending channel inventory declined slightly and remained within our target range of four to five weeks.

終端渠道庫存略有下降，並保持在我們四到五週的目標範圍內。

In terms of products, portable units represented a record high 48% of all Macintosh systems sold during the quarter.

在產品方面，便攜式設備佔本季度銷售的所有 Macintosh 系統的 48%，創下歷史新高。

PowerBook shipments hit a record high of 195,000 units while iBook shipments totaled 201,000 units.

PowerBook 出貨量創下 195,000 台的歷史新高，而 iBook 出貨量總計 201,000 台。

Power Mac shipments were 206,000 units and iMac shipments were 227,000 units.

Power Mac 出貨量為 206,000 台，iMac 出貨量為 227,000 台。

The iTunes Music Store and our new third generation iPods continued to gain momentum during the quarter bolstered by the introduction of iTunes for Windows.

iTunes 音樂商店和我們新的第三代 iPod 在本季度繼續獲得動力，這得益於 Windows 版 iTunes 的推出。

The iTunes Music Store remains very popular, available to both Mac and Windows users in the United States and just one click away from 25 million AOL members.

iTunes Music Store 仍然非常受歡迎，美國的 Mac 和 Windows 用戶都可以使用，只需單擊一下即可獲得 2500 萬 AOL 會員。

We had a blowout quarter for iPods, selling a record 733,000 units representing 256 million in revenue.

我們的 iPod 經歷了一個井噴的季度，銷售了創紀錄的 733,000 台，代表了 2.56 億美元的收入。

According to the latest data available for NPD Tech World, which tracks US retail channels, iPod remains the clear number one selling MP3 player.

根據追踪美國零售渠道的 NPD Tech World 的最新數據，iPod 仍然是銷量第一的 MP3 播放器。

As we announced last week, over 30 million songs have been purchased and downloaded through the iTunes Music Store including 17 million during the December quarter.

正如我們上周宣布的那樣，通過 iTunes Music Store 購買和下載了超過 3000 萬首歌曲，其中包括 12 月季度的 1700 萬首。

In the latest survey conducted by Nielson Sound Scam, the iTunes Music Store accounted for 70% of all legal music download.

在 Nielson Sound Scam 進行的最新調查中，iTunes 音樂商店佔所有合法音樂下載的 70%。

Clearly iPod and iTunes Music Store are distancing themselves from the competition and we expect this momentum to continue.

顯然 iPod 和 iTunes 音樂商店正在遠離競爭，我們預計這種勢頭將繼續下去。

At Mac World last week, we announced the exciting ultra portable iPod mini, targeted at the high end of the market for flash based MP3 players which represents an estimated 31% of the overall MP3 player market.

在上週的 Mac World 上，我們發布了令人興奮的超便攜 iPod mini，目標是基於閃存的 MP3 播放器市場的高端市場，估計佔整個 MP3 播放器市場的 31%。

Next month on Super Bowl Sunday, Pepsi and Apple will launch a historic promotion to give away 100 million songs from the iTunes Music Store.

下個月的超級碗星期天，百事可樂和蘋果公司將推出一項歷史性的促銷活動，從 iTunes 音樂商店贈送 1 億首歌曲。

Building on this momentum as we announced last week, Hewlett Packard will begin selling an HP branded digital music player based on Apple's iPod and pre-installing iTunes on it's consumer PCs and notebooks this summer.

在我們上周宣布的這一勢頭的基礎上，惠普將在今年夏天開始銷售基於蘋果 iPod 的惠普品牌數字音樂播放器，並在其消費類 PC 和筆記本電腦上預裝 iTunes。

It was an outstanding quarter for Apple's retail stores which generated revenue of $273 million up 84% from the year ago quarter.

對於蘋果零售店來說，這是一個出色的季度，其收入為 2.73 億美元，比去年同期增長 84%。

The retail segment profit was 9 million which does not include associated manufacturing profit of $52 million.

零售部門利潤為 900 萬美元，其中不包括 5200 萬美元的相關製造利潤。

We opened eight stores during the quarter including our first international store in Tokyo, bringing our quarter end open store count to 73.

我們在本季度開設了 8 家門店，包括我們在東京的第一家國際門店，使我們的季度末開店數量達到 73 家。

With an average of 69 stores open during the quarter, average quarterly revenue per store increased to $4 million up from 3.1 million in the year ago quarter.

本季度平均有 69 家門店開業，每家門店的平均季度收入從去年同期的 310 萬美元增加到 400 萬美元。

Traffic through the stores accelerated in the holiday quarter reaching a total of 5.9 million people compared to 4.3 million in the September quarter.

假日季度通過商店的客流量加速達到 590 萬人，而 9 月季度為 430 萬人。

This translates into an average of over 6,000 visitors per store per week in the December quarter.

這意味著在 12 月季度，每家商店每周平均有超過 6,000 名訪客。

We are very pleased with the early results of our Tokyo store which opened on November 30.

我們對 11 月 30 日開業的東京店的早期成果感到非常滿意。

First months sales through the Tokyo store were the highest of any Apple store opening to date, averaging over $1 million per week.

東京商店的第一個月銷售額是迄今為止所有 Apple Store 商店中最高的，平均每週銷售額超過 100 萬美元。

We have plans to open additional high profile stores, one in San Francisco in the spring of 2004 and one in Osaka, Japan in the fall.

我們計劃在 2004 年春季在舊金山開設一家，秋季在日本大阪開設一家。

For retail in the year ahead, we'll focus on driving comparable store revenue increases with programs aimed at switchers, small business and enhanced services through our already extremely popular genius bar.

對於未來一年的零售業，我們將通過我們已經非常受歡迎的天才吧，通過針對切換器、小型企業和增強服務的計劃，專注於推動可比商店收入的增長。

Our total education channel unit shipments increased 8% from the year ago quarter while revenue was up 20% driven by strong growth in higher education.

在高等教育強勁增長的推動下，我們的教育渠道單位總出貨量同比增長 8%，而收入增長 20%。

In terms of geographic performance, Europe segment revenues were up 48% year over year while Japan was up 13% and Asia Pacific up 55%.

在地域表現方面，歐洲部門的收入同比增長 48%，日本增長 13%，亞太地區增長 55%。

The Americas segment revenue increased 25% year over year.

美洲部門收入同比增長 25%。

Adding U.S.

添加美國

Apple retail store sales to the America's segment sales yields a 34% year over year increase.

蘋果零售店對美國細分市場的銷售額同比增長 34%。

Gross margin was 26.7%, slightly below our guidance of 27.1%, primarily due to higher warranty expense than expected and an unplanned product transition on the power Mac G5.

毛利率為 26.7%，略低於我們 27.1% 的指引，主要是由於保修費用高於預期以及 Power Mac G5 的計劃外產品過渡。

Operating expenses were 462 million, 7 million higher than expected due to slightly higher advertising expenses as well as variable selling expenses associated with the higher than expected revenue.

營業費用為 4.62 億美元，比預期高 700 萬美元，原因是廣告費用略高，以及與收入高於預期相關的可變銷售費用。

Operating profit expanded to 3.7% of sales, Apple's highest quarterly operating margin in 13 quarters.

營業利潤擴大到銷售額的 3.7%，是蘋果 13 個季度以來最高的季度營業利潤率。

Other income and expense was 13 million including 4 million in pretax gains from the sale of Aukamise(ph) shares.

其他收入和支出為 1300 萬美元，其中包括出售 Aukamise(ph) 股票的 400 萬美元稅前收益。

The tax rate for the quarter was 28% as expected.

本季度的稅率為 28%，符合預期。

In terms of the balance sheet, cash was up 225 million sequentially to just under 4.8 billion.

在資產負債表方面，現金環比增加 2.25 億至略低於 48 億。

The increase in cash was attributable to the strong earnings in the quarter combined with our continued outstanding working capital management.

現金的增加是由於本季度的強勁收益以及我們持續出色的營運資金管理。

Total capital expenditures for the quarter were 44 million including 28 million for our retail initiative.

本季度總資本支出為 4400 萬，其中 2800 萬用於我們的零售計劃。

Looking ahead to the March quarter, I'd like to review our outlook which includes the types of forward-looking information that Nancy referred to at the beginning of the call.

展望 3 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提到的前瞻性信息類型。

For the second quarter of fiscal 2004 we expect our third consecutive quarter of year over year double digit growth in both revenue and earnings.

對於 2004 財年第二季度，我們預計收入和收益將連續第三個季度實現兩位數的同比增長。

We are targeting revenue of about $1.8 billion and earnings per diluted share of 8 cents to 10 cents.

我們的目標是收入約為 18 億美元，每股攤薄收益為 8 美分至 10 美分。

We expect a sequential increase in gross margins to about 27.5%.

我們預計毛利率將連續增長至約 27.5%。

We expect operating expenses to remain relatively flat at about 460 million as the seasonal decrease in advertising spending is offset by higher research and development expenses as well as the full impact of employee salary merit increases which became effective on December 1.

我們預計運營費用將保持相對平穩，約為 4.6 億美元，因為廣告支出的季節性下降被較高的研發費用以及 12 月 1 日生效的員工加薪的全面影響所抵消。

We expect other income and expense to be about 10 million and we expect the tax rate to be 28%.

我們預計其他收入和支出約為 1000 萬，我們預計稅率為 28%。

Lastly we planned to retire the 300 million in senior debt on February 17 and become a debt-free company.

最後，我們計劃在 2 月 17 日將 3 億的高級債務還清，成為一家無債務公司。

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

有了這個，我想打開提問的電話。

Our question and answer session today will be conducted electronically.

我們今天的問答環節將以電子方式進行。

If you'd like to ask a question, simply press the star key followed by the digit 1 on your touch tone telephone.

如果您想提出問題，只需在按鍵式電話上按星號鍵，然後按數字 1。

Once again star 1 if you'd like to ask a question.

如果您想提問，請再次給 1 星號。

We'll pause a moment to assemble our question audience.

我們將暫停片刻來召集我們的提問聽眾。

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

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

We'll take our first question today from Steve Milunovich from Merrill Lynch.

我們今天將從美林證券的史蒂夫米盧諾維奇那裡回答我們的第一個問題。

Thank you.

謝謝你。

Could you comment first on the higher warranty expense in the quarter?

您能否先評論一下本季度較高的保修費用？

Exactly what product that was associated with and whether that will continue.

究竟與什麼產品相關聯以及是否會繼續。

Also curious if you can say anything about the relationship with HP in terms of economics and what kind of incremental business that could create in the second half.

也很好奇您能否就經濟方面與惠普的關係以及下半年可能創造什麼樣的增量業務發表任何看法。

Okay.

好的。

In terms of the extra warranty expense in the quarter, we had unplanned reserves that we accrued for a higher than normal warranty repairs for certain portable products such as our Power Book 15" product and iBook.

就本季度的額外保修費用而言，我們為某些便攜式產品（例如我們的 Power Book 15" 產品和 iBook 的正常保修維修計提了計劃外儲備金。

And the second question was related to HP?

第二個問題與惠普有關？

We are incredibly optimistic about the announcement last week in terms of HP remarketing an HP branded iPod based upon the Apple iPod product and bundling our iTunes software on all of their consumer PCs.

我們對上周宣布的惠普重新銷售基於 Apple iPod 產品的惠普品牌 iPod 並將我們的 iTunes 軟件捆綁在他們所有的消費類 PC 上的聲明非常樂觀。

No one can sit here today and predict how much incremental revenue is going to be driven.

今天沒有人可以坐在這裡預測將會帶來多少增量收入。

We'll just have to let the numbers as they evolve speak for themselves.

我們只需要讓數字隨著它們的演變而說明一切。

HP is number one in the consumer market.

惠普在消費市場上排名第一。

They have incredible distribution reach to the consumer market.

他們對消費市場的分銷範圍令人難以置信。

So we are very optimistic that this is going to drive significant incremental business for our iPod and iTunes Music Store.

因此，我們非常樂觀地認為，這將為我們的 iPod 和 iTunes 音樂商店帶來顯著的增量業務。

Was there a particular problem in product reliability with that PowerBook and is lower warranty expense part of the reason you expect a better gross margin in 2Q?

那台 PowerBook 的產品可靠性是否存在特殊問題，以及較低的保修費用是您預計第二季度毛利率更高的部分原因嗎？

I think it's been reported that some customers, of course, were reporting the appearance of some faint white spots on their displays after using the system for a short period.

我認為據報導，當然，一些客戶在使用該系統一段時間後，在他們的顯示器上出現了一些微弱的白點。

Apple and our supplier quickly resolved the problem and any customers experiencing this problem should contact our Apple Care organization.

Apple 和我們的供應商迅速解決了問題，遇到此問題的任何客戶都應聯繫我們的 Apple Care 組織。

Given this, we felt that it was appropriate to accrue a reserve at the end of our December quarter to provide for these repairs and take care of any ongoing problems.

鑑於此，我們認為在 12 月季度末積累儲備金以提供這些維修和處理任何持續存在的問題是適當的。

For any new systems being shipped, the problem has been resolved.

對於任何正在發貨的新系統，問題都已解決。

Thank you.

謝謝你。

Thanks, Steve.

謝謝，史蒂夫。

Can we have the next question, please?

請問下一個問題可以嗎？

We'll go next to Dan Rysis with UBS.

我們將與瑞銀一起去丹·瑞西斯（Dan Rysis）。

Good afternoon.

下午好。

Thank you.

謝謝你。

I wanted to ask you about product availability as well as how you could characterize demand for the Power Macs and the Power Books in the fourth quarter and how they go into this quarter.

我想問您有關產品可用性的問題，以及您如何描述第四季度對 Power Mac 和 Power Books 的需求以及它們如何進入本季度。

Obviously the iPod category had a very big surprise but if you could just talk about how you characterize that.

顯然 iPod 類別有一個非常大的驚喜，但如果你能談談你如何描述它。

Sure.

當然。

Clearly even though we increased the supply of our iPods above what had been originally forecasted for the December quarter, we were unable to meet all of the demand.

顯然，即使我們將 iPod 的供應量增加至高於 12 月季度最初預測的水平，我們仍無法滿足所有需求。

We clearly had reports of a lot of stock outs of certain models around the world.

很明顯，我們收到了有關全球某些型號大量缺貨的報告。

Even though we had a record quarter of 733,000 iPod unit sales which, as I said, generated 256 million in revenues, and, by the way, that does not include accessories related to the iPod or extended warranty services.

儘管我們的 iPod 銷量達到創紀錄的季度 733,000 台，正如我所說，創造了 2.56 億美元的收入，順便說一句，這還不包括與 iPod 相關的配件或延長保修服務。

If you added all those in, it would have been the total revenues related to iPod would have been 270 million.

如果把所有這些都加進去，與 iPod 相關的總收入將達到 2.7 億美元。

We had a great quarter but it could have been higher had we not had the shortages and what I'll tell you is that we have tremendous momentum going into the March quarter that we've just started and that will be enhanced by the new iPod mini shipping in February as well as the Pepsi Apple promotion, the giveaway of up to 100 million songs.

我們有一個很棒的季度，但如果我們沒有短缺，它可能會更高2 月 mini 發貨以及百事蘋果促銷活動，送出多達 1 億首歌曲。

Just couldn't be happier with the iPod but we have to acknowledge that we didn't have enough supply to meet all the demand.

對 iPod 再滿意不過了，但我們必須承認，我們沒有足夠的供應來滿足所有需求。

Did you have to do tradeoffs between the mini and the regular iPods in terms of supplies and with your suppliers.

您是否必須在供應和供應商方面在 mini 和常規 iPod 之間進行權衡。

No, not to my knowledge.

不，據我所知。

And again the mini iPod won't begin shipping til February.

再一次，迷你 iPod 要到 2 月才會開始發貨。

The second question I think you were asking about the Power Mac?

我想你問的第二個問題是關於 Power Mac 的？

Yeah.

是的。

The Power Mac sell-through for the December quarter was actually slightly better than even the September quarter; although, the unit sales were lower and that was because of a couple of factors.

12 月季度的 Power Mac 銷售量實際上甚至比 9 月季度還要好一些。雖然，單位銷售額較低，這是由於幾個因素。

One is the normal fill for the channel when you introduce for the first quarter a new product, plus we did decrease our ending channel inventory some on our Power Mac line in the December quarter for the September quarter.

一個是當您在第一季度推出新產品時渠道的正常填充，此外，我們確實在 12 月季度的 Power Mac 產品線上為 9 月季度減少了一些結束渠道庫存。

We were at our expectations on the Power Mac line, but I will tell you that the duo processor is stronger in terms of the mix of sales being higher end than we would have expected.

我們對 Power Mac 系列的預期是，但我會告訴你，就銷售組合而言，雙核處理器比我們預期的更高端。

I view that as a positive.

我認為這是積極的。

The way I should have followed-up to the iPod question is what's the indication of shelf space in your retailers as far as tradeoffs with the other iPod.

我應該跟進 iPod 問題的方式是，就與其他 iPod 的權衡而言，您的零售商的貨架空間指示是什麼。

How is the retail reception going to be?

零售接待情況如何？

Will it be not as many outlets as the current iPod?

會不會沒有現在的 iPod 那麼多的網點？

We're really pleased.

我們真的很高興。

We have much broader distribution with our iPod than we do with our Macintosh products or our other products because we have places like Best Buy and Bowe's(ph) and Circuit City, other outlets that are carrying it.

與我們的 Macintosh 產品或我們的其他產品相比，我們的 iPod 的分銷範圍要廣得多，因為我們有 Best Buy 和 Bowe's(ph) 和 Circuit City 等銷售它的商店。

I think we have, Peter, over 8000 outlets in terms of retail store fronts around the world.

彼得，我認為我們在全球擁有超過 8000 家零售店面。

We feel that we have very broad good distribution.

我們覺得我們有非常廣泛的良好分佈。

That's only going to get enhanced when the HP deal comes online this summer.

這只會在今年夏天惠普交易上線時得到加強。

Okay, thank you.

好的謝謝你。

Thanks, Ben.

謝謝，本。

Can we have the next question, please.

請問下一個問題可以嗎？

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。

Thank you very much.

非常感謝。

Fred, you said that part of the gross margin pressure in the quarter was due to the unplanned product transition in the Power Mac line?

Fred，您說本季度的部分毛利率壓力是由於 Power Mac 產品線的計劃外產品過渡？

I'm assuming most of that is airfreight?

我假設大部分是空運？

Was hoping you could confirm that and do you expect to continue to airfreight at all in the March quarter or will that go away.

希望您能確認這一點，您是否希望在 3 月季度繼續空運，或者這種情況會消失。

Then also, in your 10-K you had mentioned that gross margins could be under pressure because of aggressive industry pricing and some increases in component costs.

然後，在你的 10-K 中，你提到毛利率可能會因為激進的行業定價和組件成本的增加而面臨壓力。

Can you talk about whether those were material factors at the gross margin line this quarter at all?

您能否談談這些是否是本季度毛利率線的重要因素？

Okay, I'm going to ask Peter Oppenheimer to answer that question relative to the G5.

好的，我將請彼得奧本海默回答與 G5 相關的問題。

Okay, I'll do the components as well.

好的，我也會做組件。

I'll start with the components, Rich.

我將從組件開始，Rich。

The component costs that we saw in the December quarter were reasonably in line with our forecast.

我們在 12 月季度看到的組件成本合理地符合我們的預測。

In terms of the impact to gross margin that Fred talked about in his preamble, that really related to our transition of the product.

就 Fred 在序言中談到的對毛利率的影響而言，這確實與我們的產品轉型有關。

We reduced price on the single processor 1.6 and 1.8 and we introduced a dual processor 1.8 at virtually the same price point that we had its predecessor product so we saw lower margins as a result of doing that and had some transition costs as well.

我們降低了單處理器 1.6 和 1.8 的價格，並且我們推出了雙處理器 1.8，其價格幾乎與我們之前的產品相同，因此我們看到這樣做的結果是利潤率降低了，並且還產生了一些過渡成本。

Airfreight did not really differ materially from what we had in our initial forecast.

空運與我們最初的預測並沒有太大的不同。

Okay.

好的。

So it was a combination of just lower margins based on the new pricing structure as well as maybe some price protection, perhaps?

因此，這可能是基於新定價結構的較低利潤率以及一些價格保護的結合，也許？

Yes.

是的。

There was a little of that and then also some cancellation of POs as a result of changing the configurations of those two.

由於更改了這兩者的配置，其中有一些，然後還取消了一些 PO。

So there were about three different hits we took related to that G4 mid-quarter transition that was unplanned.

因此，我們採取了與 G4 季度中期計劃外的過渡相關的大約三個不同的打擊。

Okay and so, going I guess you had given a gross margin range of 27-28 for the year and I guess going into the next quarter you expect all of these sort of one-time factors to be behind us and to be solidly back in that range again.

好的，所以，我想你今年的毛利率範圍是 27-28，我想進入下個季度，你預計所有這些一次性因素都將落後於我們並穩固地回歸又是那個範圍。

Yes, 27.5% and I'm going to ask Peter to go over about the four reasons for the improvement that we are expecting.

是的，27.5%，我將請彼得複述我們所期望的改進的四個原因。

Right, Rich, let me just start by talking about what we expect to see in the commodity environment first and then there's some other factors as well.

好的，Rich，讓我先談談我們期望在商品環境中看到的情況，然後還有其他一些因素。

For LCDs, we would see supply and demand in equilibrium so prices being relatively flat.

對於 LCD，我們會看到供需平衡，因此價格相對持平。

For memory, we would expect supply to exceed demand and therefore, see pricing trending down slightly and the other commodities, we would expect a decline at normal rates.

對於內存，我們預計供應將超過需求，因此，看到價格略有下降，而其他商品，我們預計將以正常價格下跌。

So overall, we would see a favorable component cost environment in the March quarter from what we saw in December.

因此，總體而言，與 12 月相比，我們將在 3 月季度看到有利的組件成本環境。

In addition to that, we would see a better mix of pro product sales in the March quarter and return to more normal warranty expense in the March quarter as well.

除此之外，我們將在 3 月季度看到更好的專業產品銷售組合，並在 3 月季度恢復更正常的保修費用。

Slightly offsetting those three positive factors, we expect to have lower software sales as Panther enters the second quarter.

略微抵消這三個積極因素，我們預計隨著 Panther 進入第二季度，軟件銷售額將下降。

Great.

偉大的。

Thanks, Peter.

謝謝，彼得。

Thanks, Rich.

謝謝，里奇。

Can we have the next question please?

請問下一個問題可以嗎？

Our next question comes from Joel Wagonfeld with First Albany Capital.

我們的下一個問題來自 First Albany Capital 的 Joel Wagonfeld。

Thanks, very much.

非常感謝。

I was wondering, does offering the iTunes software on the Windows platform with HP reduce the effectiveness of your iPod and your iTunes which is driving more of your Mac sales?

我想知道，在 Windows 平台上與 HP 一起提供 iTunes 軟件是否會降低您的 iPod 和 iTunes 的效率，從而推動您的 Mac 銷售？

Is this a change in strategy that we may see in other areas and in light of that, what would you project the mix of non core CPU products to be, say, two to three years out?

這是我們在其他領域可能會看到的戰略變化嗎？鑑於此，您預計非核心 CPU 產品的組合將在兩到三年後實現嗎？

Thanks.

謝謝。

Whoa, the last one I'm not going to take out a crystal ball to predict that mix three years out.

哇，最後一個我不會拿出水晶球來預測三年後的組合。

I just, I am sorry, I don't have that kind of crystal ball.

我只是，對不起，我沒有那種水晶球。

Related to the HP strategic alliance or relationship that will come online this summer, I view that it's a great opportunity to drive incremental sales both of our iPod as well as songs on our Music Store.

與今年夏天將上線的惠普戰略聯盟或關係相關，我認為這是推動我們的 iPod 以及我們音樂商店中的歌曲銷量增長的絕佳機會。

We will still have one advantage, though, as it relates to a customer who is considering whether they want to stay Windows or may consider next time they buy a second or third computer for the home as to whether they want to buy a Mac.

不過，我們仍然有一個優勢，因為它與正在考慮是否要繼續使用 Windows 的客戶有關，或者可能在下次購買第二或第三台計算機時考慮是否要購買 Mac。

The reason is that iTunes is the only application of our digital lifestyle aps, meaning iLife, that is available on Windows.

原因是 iTunes 是我們的數字生活方式應用程序（即 iLife）的唯一應用程序，可在 Windows 上使用。

We have iPhoto, iMovie and we have iDVD and broadband, which I think is just phenomenal, that are not available on Windows.

我們有 iPhoto、iMovie，我們有 iDVD 和寬帶，我認為這非常棒，在 Windows 上不可用。

So I think that people who enjoy the fantastic experience of using iTunes software and the HP branded iPod may over time say, you know, I'd like the opportunity to enjoy some of the other digital lifestyle software.

因此，我認為享受使用 iTunes 軟件和惠普品牌 iPod 的美妙體驗的人可能會說，你知道，我希望有機會享受其他一些數字生活方式軟件。

So, I think there's still a reason for them to want to buy Mac.

所以，我認為他們仍然有理由想要購買 Mac。

Thanks, very much.

非常感謝。

We shouldn't expect some others to migrate over time?

我們不應該期望其他一些人隨著時間的推移而遷移嗎？

No plans to do so.

沒有計劃這樣做。

Thanks.

謝謝。

Thanks, Joel.

謝謝，喬爾。

The next question, please.

下一個問題，請。

Our next question comes from Walter Wynetski, an independent analyst.

我們的下一個問題來自獨立分析師 Walter Wynetski。

Yes, thanks.

對了謝謝。

I have two questions, Fred.

我有兩個問題，弗雷德。

First, relative to software sales, would you care to maybe quantify the impact either on revenues or talk about if it had any significant impact on the gross margin?

首先，相對於軟件銷售，您是否願意量化對收入的影響或談論它是否對毛利率產生重大影響？

And second, relative to the HP distribution agreement or a partnership, would it be fair to look at that as more of a one-off distribution type of agreement to increase the installed base as opposed to maybe Apple moving in more of a direction to license its IP in a more general basis?

其次，相對於惠普分銷協議或合作夥伴關係，是否可以將其視為更多的一次性分銷類型的協議，以增加安裝基礎，而不是蘋果更多地轉向許可方向它的IP在更一般的基礎上？

I'll take the HP one first and I'll ask Peter to answer the second one.

我先拿 HP 一個，然後讓 Peter 回答第二個。

You know, I think Apple viewed this as a tremendous opportunity to have a strategic partner relationship with a great company that could, you know, bring to market our iPod and our iTunes Music Store to a greater number of customers world wide.

你知道，我認為 Apple 認為這是一個巨大的機會，可以與一家偉大的公司建立戰略合作夥伴關係，你知道，這家公司可以將我們的 iPod 和我們的 iTunes 音樂商店推向全球更多的客戶。

So, we think that is a win-win situation for both HP and Apple and I wouldn't speculate on any other opportunities like that in the future.

因此，我們認為這對惠普和蘋果來說都是雙贏的局面，我不會推測未來還有其他類似的機會。

Peter, you want to take the revenue and gross margin?

彼得，你想拿收入和毛利率嗎？

Sure.

當然。

Total software sales as shown on the data summary were 238 million, that's software and other, up 54% year over year.

數據摘要顯示的軟件總銷售額為 2.38 億，即軟件和其他，同比增長 54%。

So, overall, we did very well in software but would point out specifically Panther.

所以，總的來說，我們在軟件方面做得很好，但會特別指出 Panther。

We were very happy with its first quarter.

我們對第一季度非常滿意。

Revenues were over $60 million meeting our expectations and it has gotten rave customer reviews.

收入超過 6000 萬美元，符合我們的預期，並獲得了熱烈的客戶評價。

That's the best first quarter upgrade revenue levels that I can remember on a new operating system.

這是我能記得的新操作系統上最好的第一季度升級收入水平。

It was just phenomenal, the market acceptance for that new operating system, really.

這種新操作系統的市場接受度真的很驚人。

Fred, did that have a notable or any kind of impact on the gross margin line?

弗雷德，這對毛利率有顯著影響嗎？

It had, as expected, we factored in a really strong quarter and it happened.

正如預期的那樣，我們考慮到了一個非常強勁的季度，它發生了。

You know, we expect in the second quarter and beyond to even see a stronger performance in terms of follow on quarters with this release of the operating system than prior OS releases.

您知道，我們預計在第二季度及以後，該操作系統版本的後續季度表現甚至會比之前的操作系統版本更強勁。

The other reason is we have about almost 10 million various versions of releases of Mac OS 10 out there right now and so this provides a much larger installed base for upgrades.

另一個原因是我們現在有大約 1000 萬個不同版本的 Mac OS 10，因此這為升級提供了更大的安裝基礎。

When you come out with one with 150 features like we just did with Panther which ar really significant improvements, you should see your OS upgrade sales go up substantially, and they did.

當您推出一款具有 150 項功能的產品時，就像我們剛剛對 Panther 所做的那樣，這是非常顯著的改進，您應該會看到您的操作系統升級銷售額大幅上升，而且確實如此。

Thank you, Walter.

謝謝你，沃爾特。

Can we have the next question, please?

請問下一個問題可以嗎？

Our next question today comes from Bill Shope with JP Morgan.

我們今天的下一個問題來自摩根大通的比爾肖普。

Okay, great, thanks.

好的，太好了，謝謝。

As we are trying to model the new iPod mini, can you tell us whether or not it carries higher or lower margins than the current iPod average just qualitatively?

當我們試圖為新的 iPod mini 建模時，您能告訴我們它在質量上是否比當前 iPod 的平均利潤率更高或更低？

And then, also, could you give us an idea if you had shortages on key notebook components during the December quarter and then, finally could you just give us a qualitative read in what you saw in terms of S&B in the retail stores?

然後，如果您在 12 月季度期間出現關鍵筆記本電腦組件短缺的情況，您能否給我們一個想法，然後，您能否給我們一個定性解讀，了解您在零售店中看到的 S&B 情況？

Sure.

當然。

Let me first say that the iPod gross margins were better than expected in the first quarter and they were very close to our overall corporate gross margin average due to a strong mix of direct sales in the quarter combined with favorable component costs.

我首先要說的是，iPod 第一季度的毛利率好於預期，並且由於本季度直接銷售的強勁組合以及有利的組件成本，它們非常接近我們的整體公司毛利率平均值。

What I would say, I don't want to get into because we are also under nondisclosure in terms related to HP and don't want to get into specifically gross margin on the mini iPod but I will tell you, on these two new products roll into as we go into the year into the mix, we're still confident, although we won't be able to maintain the gross margins that we enjoyed that were very good and strong this quarter when you roll in the effect of the HP deal and the mini iPod because they both would have lower gross margins than what we achieved in the current iPod.

我想說的是，我不想進入，因為我們也未披露與惠普相關的條款，也不想進入 mini iPod 的具體毛利率，但我會告訴你，關於這兩個新產品隨著我們進入這一年，我們仍然充滿信心，儘管我們將無法保持本季度非常好的和強勁的毛利率，因為惠普的影響交易和迷你 iPod，因為它們的毛利率都低於我們在當前 iPod 中取得的毛利率。

We still believe we can maintain gross margins even when those roll in at close to 20%.

我們仍然相信，即使毛利率接近 20%，我們也可以保持毛利率。

Okay. and the FNB activity in the stores and notebook component availability?

好的。商店中的 FNB 活動和筆記本組件的可用性？

I am sorry, could you repeat the questions?

對不起，你能重複一下問題嗎？

I just asked the question, just a qualitative read on FNB activity in the stores and, again, shortages on notebook component availability?

我只是問了一個問題，只是對商店中 FNB 活動的定性閱讀，以及筆記本組件可用性的短缺？

Okay, I am going to ask Peter to answer that.

好的，我要請彼得回答這個問題。

I'll start with the notebook components.

我將從筆記本組件開始。

Across all the quarter, we were able to meet our demand on both the iBook and the PowerBook.

在整個季度中，我們都能夠滿足我們對 iBook 和 PowerBook 的需求。

I recall panel supply occasionally being a little tight but across the quarter, we were fine and met demand.

我記得面板供應偶爾會有點緊張，但在整個季度，我們都很好並且滿足了需求。

In terms of the retail, I don't have a quantification of how much FNB sales were of the phenomenal 273 million that Ron had; however, he did make a qualitative comments on the fact he was pleased with both FNB sales, consumer sales as well some of the education programs as well, in terms of reaching out to customers from the stores.

在零售方面，我無法量化 Ron 擁有的驚人的 2.73 億的 FNB 銷售額。但是，他確實對 FNB 銷售、消費者銷售以及一些教育計劃在從商店接觸客戶方面感到滿意這一事實做出了定性評論。

Thank you.

謝謝你。

Thank you, Bill.

謝謝你，比爾。

Can we have the next question, please?

請問下一個問題可以嗎？

We'll go next to Rebecca Runkle with Morgan Stanley.

我們將與摩根士丹利一起去 Rebecca Runkle。

Thanks, Fred.

謝謝，弗雷德。

Just a couple of follow-up questions.

只是幾個後續問題。

First one, as relates to inventory decrease you saw in the channel for EpowerMac that you saw in the quarter which gave you the lower than expected for my model December sales for EpowerMac, can you talk about the order of magnitude decrease of inventory and where it stands right now and what you expect going forward?

第一個，與您在本季度看到的 EpowerMac 渠道中看到的庫存減少有關，這使您對我的模型 12 月 EpowerMac 的銷售低於預期，您能談談庫存減少的數量級以及它在哪裡現在站著，你對未來的期望是什麼？

Well, what we can tell you is, I don't want to get into the individual products, although the EpowerMac drove a significant part of what I am going to say.

好吧，我們可以告訴你的是，我不想進入單個產品，儘管 EpowerMac 推動了我要說的重要部分。

The channel inventory in terms of units was down 6% at the end of the December quarter from the September quarter.

以單位計的渠道庫存在 12 月季度末比 9 月季度下降了 6%。

And, where you'd like to see it or a little bit lower than you'd like to see it?

而且，你想在哪裡看到它或比你想看到的低一點？

As I said in the preamble, we try to manage our channel inventory and the four to five week range and we were within that range on a look-back basis, we were very much at the low end of that range.

正如我在序言中所說，我們試圖管理我們的渠道庫存和四到五週的範圍，我們在回顧的基礎上處於該範圍內，我們非常處於該範圍的低端。

Obviously we are expecting sales to decline a little which is the normal industry phenomenon from the December quarter to the March quarter.

顯然，我們預計銷售額會略有下降，這是從 12 月季度到 3 月季度的正常行業現象。

And just qualitatively, a little bit of a follow-up if you can provide some perspective on desktops versus notebooks.

如果你能提供一些關於台式機與筆記本電腦的觀點，只是定性的，一點點跟進。

I guess what I'm driving at, you talked some of the reasons why EpowerMac was weaker than people perhaps expected and certainly there are some reasons to expect iMac performance as it was but both of those numbers missed, for my model, whereas notebooks exceeded.

我猜我在說什麼，你談到了 EpowerMac 比人們預期的要弱的一些原因，當然也有一些理由可以預期 iMac 的性能，但對於我的型號來說，這兩個數字都錯過了，而筆記本電腦超過了.

And why the shift to notebooks is happening at a faster rate or in line with expectations and variances that were more one-time in nature that unfolded in the quarter?

為什麼向筆記本電腦的轉變正在以更快的速度發生，或者與本季度出現的更多一次性性質的預期和差異一致？

First thing I would say is, I remember about a year ago Steve said that 2003 would be the year of the portable and it certainly has been for Apple.

我要說的第一件事是，我記得大約一年前，史蒂夫說 2003 年將是便攜式設備之年，而且對於蘋果來說肯定是這樣的。

We've seen, as expected, a significant mix shift away from desk tops to portables and we have two great portable offerings with our PowerBook and iBook.

正如預期的那樣，我們已經看到從台式機到便攜式設備的重大轉變，我們的 PowerBook 和 iBook 提供了兩種出色的便攜式產品。

I think that's a lot of it.

我想這很多。

I think the second point on the iMac, the flat panel iMac at $1299 captures a good share of the price bands for products, $1200 or higher, a lot of the consumer market has moved down below the $1,000 price point, as you know.

我認為 iMac 的第二點，1299 美元的平板 iMac 在 1200 美元或更高的產品價格段中佔據了很大份額，正如你所知，許多消費市場已經跌破 1000 美元的價格點。

So, that would be my comment there.

所以，這將是我的評論。

The combination of moving the portables plus the iMac being priced above where the sweet spot in the market is, below $1,000, has probably contributed to that.

移動便攜式設備加上 iMac 的價格高於市場上的最佳價格，低於 1,000 美元，這可能促成了這一點。

And, of course, you are not going to comment on plans to address that sweet spot?

而且，當然，您不會對解決該最佳點的計劃發表評論嗎？

I'm not going to talk about future products relative to any of our products, including the iMac.

我不會談論與我們的任何產品相關的未來產品，包括 iMac。

And just, lastly and I apologize if I missed it as I dropped off for a second, specific commentary on what you are seeing in the creative professional market given the strong lineup of products that you currently have, and if you can comment or provide any color, in terms of what type of demand you think is product cycle driven versus overall improvement in the buying pattern of that in market?

最後，如果我錯過了它，我深表歉意顏色，就您認為產品週期驅動的需求類型與市場購買模式的整體改善而言，您認為哪種類型的需求？

I'll start this and then ask Peter to chime in if he has anything to add to it.

我會開始這個，然後讓彼得插話，如果他有什麼要補充的話。

What I understand is that, you know, there is this, I guess it is "Trend Watch" that does a twice-a-year survey.

我的理解是，你知道，有這個，我猜是“趨勢觀察”每年進行兩次調查。

The last survey I read for the first time indicated that the number of customers in the creative markets that were saying business conditions were improving, had gone up.

我第一次閱讀的最後一項調查表明，創意市場中認為商業狀況正在改善的客戶數量有所增加。

So, I think the worst is over because conditions are improving and ad revenues are starting to go up.

所以，我認為最糟糕的時期已經過去，因為情況正在改善，廣告收入開始上升。

So, I think the business environment is improving.

所以，我認為商業環境正在改善。

Clearly, we have strong offerings now with the G5 EpowerMac for that market and having finally all the adds such as the Adobe Photo Shop and Cork Express available on the platform and Panther now out on the market.

顯然，我們現在為該市場提供了強大的 G5 EpowerMac 產品，並且最終在該平台上提供了所有附加功能，例如 Adobe Photo Shop 和 Cork Express，而 Panther 現已上市。

I think we have the ingredients for improved pro sales of our pro products into the creative markets.

我認為我們擁有提高我們的專業產品在創意市場上的專業銷售的成分。

Thank you so much.

太感謝了。

You're welcome.

別客氣。

Thanks, Rebecca.

謝謝，麗貝卡。

Can we have the next question, please?

請問下一個問題可以嗎？

We will go next to Shannon Cross with Cross Research.

我們將與 Cross Research 一起前往 Shannon Cross。

Hi, good afternoon, guys.

嗨，下午好，伙計們。

Hi.

你好。

A couple of questions, one, can you give us an update on what you're seeing in the education market., I think you noted higher education is strong but maybe you can talk a little bit about K through 12?

有幾個問題，一個，你能告訴我們你在教育市場上看到的最新情況嗎？我想你注意到高等教育很強大，但也許你可以談談 K 到 12 歲？

Seems like Schwarzenegger maybe is not going to cut the California budget as much as what was expected and then, an update on your pilot with Best Buy and how that went over the holiday season?

似乎施瓦辛格可能不會像預期的那樣削減加州的預算，然後，你在百思買的飛行員的最新情況以及假期期間的情況如何？

Okay, I am going to ask Peter to address both of those.

好的，我將請彼得解決這兩個問題。

I will start with Best Buy.

我將從百思買開始。

Best Buy carries in all of their stores our iPods and we were very pleased with sales in the first quarter.

百思買在他們所有的商店裡都有我們的 iPod，我們對第一季度的銷售非常滿意。

We continued to assort the CPUs in about 50 of their stores and we don't have anything to announce today in terms of expansion of that presence.

我們繼續在他們的大約 50 家商店中對 CPU 進行分類，而且我們今天沒有任何關於擴大這種存在的宣布。

In terms of education, higher ed was up strongly year over year.

在教育方面，高等教育同比強勁增長。

In K-12 was down just slightly.

K-12 略有下降。

Funding requirement in many states as you indicated remains tough but there's money out there available for purchase of computers and we are working hard to get our fair share.

正如您所指出的，許多州的資金需求仍然很困難，但那裡有錢可用於購買電腦，我們正在努力爭取公平的份額。

Okay, great.

好，太棒了。

And then, just a follow-up, I'm curious, in terms of the decrease in channel inventory at the end of the quarter, I know we've hit this a bit, would any of that be sort of prior to the refresh of the EpowerMac line or is this purely just to prepare you guys for sort of a slower quarter as you enter into, you know, '04?

然後，只是跟進，我很好奇，就本季度末渠道庫存的減少而言，我知道我們已經達到了一點，是否會在刷新之前出現EpowerMac 系列的產品，或者這純粹是為了讓你們在進入 04 年時為一個較慢的季度做好準備？

Clearly we're not going to talk about any potential future products, but, yes, as a normal season matter because your average weekly sell through for the whole industry, I think industry typically goes down 8-10 from the December quarter to the March quarter, a company that's doing the right thing ought to bring down their channel inventory in the December quarter.

顯然，我們不會談論任何潛在的未來產品，但是，是的，作為一個正常的季節問題，因為整個行業的平均每週銷售量，我認為行業通常從 12 月季度到 3 月下降 8-10季度，做正確事情的公司應該在 12 月季度降低其渠道庫存。

Okay and then in terms of sales of Panther which are stronger than we anticipated for your overall software sales, how should we think about what percent of your installed basis, anything you can give us?

好的，然後就 Panther 的銷售而言，這比我們對您的整體軟件銷售的預期要強，我們應該如何考慮您安裝基礎的百分比，您可以給我們什麼？

I can give you a little bit on that.

我可以給你一點。

My understanding is we have 20 million of our installed base that would technically be able to upgrade the Macro S-10 and about 50% of that base or 10 million is running some release of Macro S-10.

我的理解是，我們有 2000 萬的已安裝用戶群在技術上能夠升級 Macro S-10，其中大約 50% 或 1000 萬用戶正在運行 Macro S-10 的某些版本。

So, about 50% of the base.

所以，大約是基數的50%。

Great.

偉大的。

Thanks.

謝謝。

Of the eligible base.

符合條件的基地。

We have a bigger base than 20 million, in total.

我們的總人數超過 2000 萬。

Okay, thanks.

好的謝謝。

Thank you, Shannon, can we have the next question, please?

謝謝你，香農，我們可以問下一個問題嗎？

Next we'll go to Charles Wolf with Needham and Company.

接下來我們將與Needham and Company 一起去Charles Wolf。

Yes, I have a couple of questions.

是的，我有幾個問題。

How many Pod sales were sold internationally versus domestically?

國際和國內銷售了多少 Pod？

Simple answer is a little over two-thirds of the sales in the quarter were in the U.S.

簡單的答案是，本季度超過三分之二的銷售額在美國。

Okay and then I noticed in your 10-K you plan to spend about 80 million to expand the Apple stores in 2004 and you spent about 28 million, I believe, in the first quarter.

好的，然後我注意到在你的 10-K 中，你計劃在 2004 年花費大約 8000 萬來擴大 Apple 商店，我相信，你在第一季度花費了大約 2800 萬。

It looks to me you're planning to open around 15 new stores during the year, is that reasonably correct?

在我看來，您計劃在年內開設大約 15 家新店，這合理嗎？

No, we positioned we would have 80 stores by back to school, that could be a couple more.

不，我們定位到開學時我們將擁有 80 家商店，這可能會更多。

What you have to look at is the number of what I'll call large, high profile stores.

你需要看的是我所說的大型高調商店的數量。

If you went to Tokyo, you'd see that was a very incredible store that's a high profile store.

如果你去東京，你會發現那是一家非常了不起的商店，也是一家知名度很高的商店。

In Tokyo, obviously, expected to and has been hitting the first month high sales and a store like that costs more than one in Buffalo, New York which is a small store.

顯然，在東京，預計並且已經達到了第一個月的高銷售額，而像這樣的商店比紐約布法羅的一家小商店還要貴。

Also as we indicated an opening in San Francisco, another high profile store this spring and in the fall another one in Osaka, Japan.

同樣，正如我們指出的那樣，今年春天又在舊金山開設了另一家知名商店，秋季在日本大阪開設了另一家。

And Charlie, let me just clarify some of the capital expenditure numbers.

查理，讓我澄清一些資本支出數字。

In our K we said we would spend about 160 million across the fiscal year of which 85 would be in retail.

在我們的 K 中，我們說我們將在整個財政年度花費約 1.6 億美元，其中 85 美元將用於零售。

In Q-1, we spent 44 million and in total of 28 million was for retail.

在第一季度，我們花費了 4400 萬，總共 2800 萬用於零售。

Okay and finally, I'm curious about the Pepsi giveaway.

好的，最後，我對百事可樂的贈品很好奇。

Is Apple sharing the expenses of that giveaway with Pepsi?

蘋果公司是否與百事可樂分擔贈品的費用？

Let me say this, that we have fully incorporated, we are under nondisclosure on that arrangement and we've incorporated into our guidance whatever impact there might be.

讓我這麼說，我們已經完全納入，我們對該安排保密，並且我們已將任何可能產生的影響納入我們的指導。

Okay.

好的。

Thanks a lot, Fred.

非常感謝，弗雷德。

Thanks, Charlie.

謝謝，查理。

Can we have the next question, please?

請問下一個問題可以嗎？

We'll go now to Keith Bachman with Banc of America.

我們現在將與美國銀行一起去 Keith Bachman。

Hi, thanks.

你好謝謝。

I have two questions.

我有兩個問題。

When you look at the G5 sales, you mentioned the Panther upgrade and where you are with that.

當您查看 G5 的銷售情況時，您提到了 Panther 升級以及您的情況。

A similar question on G5, do you have any sense about where you might be in terms of upgrade associated with people moving from the G4 to the G5 platform?

關於 G5 的一個類似問題，您對與從 G4 遷移到 G5 平台的人相關的升級方面可能處於什麼位置有任何感覺嗎？

I think we're going to continue to see strong upgrades from our installed base, pro base to the G5 over time here.

我認為隨著時間的推移，我們將繼續看到從我們的安裝基礎、專業基礎到 G5 的強勁升級。

I've been asked that question before and I think I answered our goal is to sustain EpowerMac sales, total EpowerMac sales at or above the 200,000 unit level.

之前有人問過我這個問題，我想我已經回答了我們的目標是維持 EpowerMac 的銷量，EpowerMac 的總銷量在 200,000 台或以上。

It doesn't mean it all depends when you come out with a new rev to the G5, you might have something that will spike well above that as you get where the later part of the life cycle of the given rev, you might find it dropped slightly below.

這並不意味著這一切都取決於您何時推出 G5 的新轉速，當您到達給定轉速的生命週期的後期部分時，您可能會發現一些東西會遠遠超過該轉速，您可能會發現它略低於。

But I think we can sustain the EpowerMac line sales at least 200,000 units going forward.

但我認為我們可以維持 EpowerMac 系列至少 200,000 台的銷量。

Okay.

好的。

Per quarter.

每季度。

Fair enough.

很公平。

When you think about the 200,000 level per quarter, is there any sense you get about how to dissect that in terms of upgrades versus potential new market converts?

當您考慮每季度 200,000 的水平時，您是否知道如何從升級與潛在的新市場轉換方面進行剖析？

Well, I can just tell you, well, we could point to one which wasn't an upgrade which was a super computer at Virginia Tech where they bought 11000 dual processor, 1100 I mean, I wish it was 11,000. 1100 G5 Power Macs and that was new.

好吧，我可以告訴你，好吧，我們可以指出一個不是升級的，它是弗吉尼亞理工大學的一台超級計算機，他們購買了 11000 雙處理器，1100 我的意思是，我希望它是 11,000。 1100 G5 Power Macs，那是新的。

So, you know, you're going to find some new.

所以，你知道，你會發現一些新的。

Typically the majority of those, I can't give you an exact percent but the majority of your sales of the Power Mac line would be existing installed base upgrading to a faster processor.

通常，其中大多數，我不能給你一個確切的百分比，但你的 Power Mac 系列的大部分銷售將是現有的安裝基礎升級到更快的處理器。

Okay.

好的。

Europe look particularly strong on a year over year basis, also a sequential basis in terms of GOs.

歐洲看起來特別強勁，同比增長，在 GO 方面也是連續的。

Any kind of flavor or color you can give us there?

有什麼味道或顏色可以給我們嗎？

Peter, why don't you take that?

彼得，你為什麼不接受呢？

Q1 is Europe's big product quarter typically for the industry and for us so that really explains the sequential increase.

第一季度是歐洲的主要產品季度，通常對行業和我們來說都是如此，這確實解釋了連續增長。

We were very pleased though with the growth of 19% in units and 48% in revenue year over year.

我們對同比增長 19% 和收入同比增長 48% 感到非常高興。

The revenue growth was nicely in front of the unit growth really reflecting two things: Strong non CPU product sales such as the iPod but also a strong pro quarter in Europe as well which attributed to the revenue growth.

收入增長很好地領先於單位增長，這確實反映了兩件事：強勁的非 CPU 產品銷售，如 iPod，以及歐洲強勁的專業季度，這歸因於收入增長。

Okay, one more question, if I can just going back to the upgrade cycles.

好的，還有一個問題，我是否可以回到升級週期。

Any sense on how, I understand the 200 thousand per quarter comment but any sense on the installed base or available target market of G4s, any numbers you think might be relevant or appropriate for an addressable upgrade market from G4 to G5?

關於如何理解每季度 20 萬條評論的任何意義，但對 G4 的已安裝基礎或可用目標市場有任何意義，您認為任何數字可能與從 G4 到 G5 的可尋址升級市場相關或合適？

Is it 20% done, is it 50% done, any kind of thoughts there?

完成了 20%，完成了 50%，有什麼想法嗎？

I'm sorry, I just don't have that visibility.

對不起，我只是沒有那種能見度。

Fair enough.

很公平。

That's all for me.

這就是我的全部。

Fair enough.

很公平。

Thanks, Keith.

謝謝，基思。

Can we have the next question, please?

請問下一個問題可以嗎？

Our next question comes from Rob Serra with Fulcrum Global Partners.

我們的下一個問題來自 Fulcrum Global Partners 的 Rob Serra。

Hi, thanks, very much.

你好，非常感謝。

Just to continue on the EpowerMac.

只是為了繼續使用 EpowerMac。

I'm just curious, not sure if you can give color on it but historically part of the importance and strength of the EpowerMac was premium gross margins and I'm guessing you're not there yet because it's an early product cycle but I am just wondering how the gross margin trends have been maybe and then, strategically, is your ultimate goal, would it be to sort of get that back to a high gross margin product or maybe the world is different now, you have to be price competitive and maybe never get back to that type of level, not sure if you can give color about that?

我只是好奇，不確定你是否可以給它上色，但從歷史上看，EpowerMac 的重要性和實力的一部分是高毛利率，我猜你還沒有，因為這是一個早期的產品週期，但我是只是想知道毛利率趨勢如何，然後，從戰略上講，是你的最終目標，是讓它回到高毛利率產品，還是現在世界不同了，你必須具有價格競爭力和也許永遠不會回到那種水平，不確定你是否可以為此提供顏色？

I'll be clear, the high level priority is to expand the unit sales of our EpowerMac G5 product.

我很清楚，最高優先級是擴大我們 EpowerMac G5 產品的銷量。

You know, it typically is our highest margin product family, but if we have to trade off some margin to drive increase sales of the product family, that's our first priority.

你知道，它通常是我們利潤率最高的產品系列，但如果我們必須犧牲一些利潤來推動產品系列的銷售增長，那是我們的首要任務。

Is there any reason with the new architecture that would change at all or is it clearly just a pricing issue for you guys?

新架構是否有任何理由會發生根本變化，或者這顯然只是你們的定價問題？

I am not sure I understand the pricing versus architecture.

我不確定我是否了解定價與架構。

You mean, the architecture allows you to reduce costs?

你的意思是，架構可以讓你降低成本？

I guess I'm thinking the other way around.

我想我在想相反的方式。

Is the new architecture, does it keep you from getting to the gross margin you used to get to or is that not really an issue, more just a pricing strategy issue for you?

新架構是否讓您無法達到過去的毛利率，或者這不是一個真正的問題，對您來說更像是一個定價策略問題？

We are more aggressive on our G5 EpowerMac pricing than we have been if you go back a couple years ago on our G4 EpowerMac.

如果您在幾年前回到我們的 G4 EpowerMac 上，我們對 G5 EpowerMac 的定價會更加激進。

So that's a conscious decision on the company's part to drive increased sales of that EpowerMac line.

因此，這是該公司為推動 EpowerMac 系列銷量增加而做出的有意識的決定。

Especially when you consider performance.

尤其是在考慮性能時。

Okay, thank you, very much.

好的，非常感謝。

Thank, Rob.

謝謝，羅布。

Can we have the next question, please?

請問下一個問題可以嗎？

Next, we will go to Phil Gucci with Zebra Funds.

接下來，我們將與 Zebra Funds 一起前往 Phil Gucci。

Hi.

你好。

Can you tell me again what the $3 million of extraordinary income was and also, are there any,I don't want to say plans, I don't you don't talk about future products, where does video movies play in your future projects for iPods or similar things?

你能再告訴我300萬美元的非凡收入是什麼嗎，還有，有沒有，我不想說計劃，我不你不談論未來的產品，你未來的視頻電影在哪裡播放iPod 或類似的項目？

I'm sorry, could you restate your first question and second again?

對不起，你能重述你的第一個問題和第二個問題嗎？

I didn't get it.

我沒明白。

The $3 million of extraordinary income, where did that come from?

300萬美元的超常收入，從何而來？

Gary Litsworth, our Treasurer, would you like to answer that?

我們的財務主管 Gary Litsworth，您願意回答這個問題嗎？

Sure.

當然。

We sold remaining shares of Achemi that we held which drove a pretax gain of $4 million and an after tax gain of $3 million.

我們出售了我們持有的 Achemi 剩餘股份，這帶來了 400 萬美元的稅前收益和 300 萬美元的稅後收益。

Okay and the second question was if you guys have any plans of, I guess, expanding your iPod concept into video at some point?

好的，第二個問題是你們是否有任何計劃，我想，在某個時候將你們的 iPod 概念擴展到視頻？

You know, I just have to say we don't talk about future products.

你知道，我只想說我們不談論未來的產品。

I mean, we have a very, very talented group of technical people here at Apple.

我的意思是，我們在 Apple 有一群非常非常有才華的技術人員。

You know, over 2,500 people in R&D and they can do a lot of things but we are not going to talk about it.

你知道，研發人員有 2500 多人，他們可以做很多事情，但我們不打算談論它。

Okay, thank you.

好的謝謝你。

Thanks, Phil.

謝謝，菲爾。

Can we have the next question, please?

請問下一個問題可以嗎？

Our next question comes from Bill Fernly with FTN Midwest Research.

我們的下一個問題來自 FTN Midwest Research 的 Bill Fernly。

Good afternoon.

下午好。

A couple of quick questions for you.

幾個簡單的問題給你。

Mix on iPod units, do you have any Windows percentages that you can track with the registration card data?

在 iPod 設備上混合，您是否有任何可以使用註冊卡數據跟踪的 Windows 百分比？

Peter, you want to take that?

彼得，你想拿那個嗎？

Sure, we are collecting registration cards and doing some surveys but, due to competitive reasons, don't want to release that data.

當然，我們正在收集註冊卡並進行一些調查，但由於競爭原因，我們不想發布這些數據。

Okay and on the direct versus indirect percentages, can you provide those on the end market sales and if you could add any color on what percentage was Apple.com?

好的，關於直接和間接百分比，您能否提供最終市場銷售額的數據？如果您可以在 Apple.com 的百分比上添加任何顏色？

Sure.

當然。

I will do that.

我去做。

First of all, we define direct sales to U.S. education customers, sales to our retail stores and directly to customers on the internet.

首先，我們定義了對美國教育客戶的直接銷售、對我們零售店的銷售以及直接對互聯網上的客戶的銷售。

We were very pleased by the results in the December quarter.

我們對 12 月季度的結果感到非常滿意。

Direct revenues were 43% of our total, up from 36% in the year ago quarter.

直接收入占我們總收入的 43%，高於去年同期的 36%。

I won't give you a quantitative percent but our internet sales were up appreciably.

我不會給你一個定量的百分比，但我們的互聯網銷售額明顯上升。

Okay and then one last question for you on the peripheral attach you had mentioned before, could you give any color on either revenues or whether the bulk of the peripheral attach was sold with MacIntoshes or what percentage might have been sold stand alone to Macintosh customers after the sale or after they already owned a MacIntosh?

好的，最後一個關於您之前提到的外圍設備的問題，您能否就收入或外圍設備的大部分是否與 MacIntoshes 一起出售，或者在之後單獨出售給 Macintosh 客戶的百分比是多少？出售還是在他們已經擁有 MacIntosh 之後？

Thanks.

謝謝。

He's asking about sales, Gary?

他在問銷售，加里？

Sure.

當然。

Our non CPU sales, percent of revenue very strong, 37% of total revenues, that was up from 25% in the year ago quarter.

我們的非 CPU 銷售額佔收入的百分比非常強勁，佔總收入的 37%，高於去年同期的 25%。

The biggest single category was the phenomenal performance of iPod which comprised 13% of our total revenues.

最大的單一類別是 iPod 的非凡表現，占我們總收入的 13%。

In the other products all combined were 24%.

在其他產品中，所有產品的總和為 24%。

I don't have statistics that I can quote for you about when these products are being purchased with CPUs but we and our channel partners are focused on attaching iPods and Apple and display and other products developers make at the point of sale.

我沒有可以為您提供的關於何時購買這些產品的 CPU 統計數據，但我們和我們的渠道合作夥伴專注於連接 iPod 和 Apple 以及開發人員在銷售點製造的顯示器和其他產品。

Thanks.

謝謝。

Thanks, Bill.

謝謝，比爾。

Can we have the next question, please?

請問下一個問題可以嗎？

We'll go now to John McKeefe with Seminole Capital Partners.

我們現在將與塞米諾爾資本合夥人一起去約翰麥基夫。

Thank you.

謝謝你。

Again on the PowerMacs, could you normalize the numbers or tell us what the sell through was of PowerMacs in the September versus December quarter because I think you said it was up on a sell-through basis, sequentially.

再次在 PowerMacs 上，您能否將數字標準化或告訴我們 PowerMacs 在 9 月與 12 月季度的銷售量是多少，因為我認為您說它是在銷售量的基礎上按順序上升的。

If you can't give me the numbers, maybe you can tell us how much it was up on a percentage basis?

如果你不能給我數字，也許你可以告訴我們它按百分比增加了多少？

Sell through was up at a double digit rate.

銷售額以兩位數的速度增長。

Sequentially?

依次？

Yes.

是的。

So what were the weeks of inventory in that product at the end of the September quarter versus December quarter?

那麼在 9 月季度末與 12 月季度相比，該產品的庫存週數是多少？

I don't have that in front of me.

我面前沒有那個。

Here's the issue: Whenever you introduce a new product, right, typically what you do is you have the channel prior to doing that and your first quarter when you introduce a new product, you have to provide some channel fill to get your inventory up to an acceptable level, right?

問題是：每當您推出新產品時，通常您所做的就是在此之前擁有渠道，而在第一季度推出新產品時，您必須提供一些渠道填充以使您的庫存達到可以接受的水平，對吧？

So you would have that in addition to us bringing down the channel inventory from the September quarter to the December quarter, you would have had the benefit to the September quarter of the channel fill.

因此，除了我們將渠道庫存從 9 月季度降低到 12 月季度之外，您還可以享受到渠道填充的 9 月季度。

Okay.

好的。

So could this mark the low point maybe for EpowerMac sales going forward, we have the Japanese fiscal ending this quarter and we have the new store there?

那麼這是否標誌著 EpowerMac 銷售的低點，我們在本季度結束了日本財政，我們在那裡開設了新店？

I'm sorry, I am not going to get into projecting product family unit sales by quarter.

對不起，我不打算按季度預測產品系列單位的銷售額。

The only thing, again, I'll reiterate is we believe that we can sustain our EpowerMac sales on a quarterly basis at about 200,000 units.

唯一要重申的是，我們相信我們可以將 EpowerMac 的季度銷量維持在大約 200,000 台。

Some quarters it will be a little higher and some quarters it may be a little lower.

有些季度會高一點，有些季度可能會低一點。

Okay, that's fine and I just have a quick follow-up on interest and other income which had been running at about 25 million.

好的，這很好，我只是快速跟進了大約 2500 萬的利息和其他收入。

It stepped down this quarter except for the one-time gain on the [Achemi] shares.

除了 [Achemi] 股票的一次性收益外，它在本季度下台。

Shouldn't that come back up or is that going to stay down at these levels going forward for modeling purposes?

這不應該回來嗎？還是會為了建模目的而保持在這些水平上？

Gary, you want to take that?

加里，你想拿那個嗎？

Sure, I would be happy to.

當然，我很樂意。

Actually, when it was up around $25 million, interest rates were higher, they were up over 2% if you go back a year, year and a half ago.

實際上，當它上漲約 2500 萬美元時，利率更高，如果你回溯一年、一年半前，它們的漲幅超過了 2%。

Over the last year, interest rates have been much lower, running in the 1-1.25% range.

在過去的一年裡，利率要低得多，在 1-1.25% 的範圍內。

Our portfolio is kind of short right now because we think that interest rates are about ready to go back up and if interest rates do go back, you'll see OINE rise with that.

我們的投資組合現在有點短，因為我們認為利率即將回升，如果利率確實回升，你會看到 OINE 隨之上漲。

Alright, thank you.

好的，謝謝。

Thanks, John.

謝謝，約翰。

Can we have the next question, please?

請問下一個問題可以嗎？

And we would like to remind everyone, if you have a question, press the star key followed by the digit 1 on your touch tone phone.

我們想提醒大家，如果您有任何問題，請在您的按鍵式電話上按星號鍵，然後按數字 1。

We'll go now to Steven Fortuna with Prudential.

我們現在將與保誠一起去 Steven Fortuna。

A couple of short ones.

幾個短的。

First, I know you guys have an initiative going on to try to find lower cost rates to produce the Macs and, over time, help build more gross margin.

首先，我知道你們有一個計劃，試圖找到更低的成本率來生產 Mac，並隨著時間的推移幫助建立更多的毛利率。

How are you making progress on that, if you could give us a little bit of perspective on that?

如果您能給我們一些看法，您在這方面進展如何？

Then second would be, I guess, guiding to 27-28% gross margin this fiscal year, how do you think about the longer term gross margin for the company, more toward the 28 level or is that getting too aggressive?

然後第二個是，我猜，本財年毛利率將達到 27-28%，你如何看待公司的長期毛利率，更接近 28 的水平，還是太激進了？

Lastly, going back to pricing which we believe was extremely aggressive led by HP being very market share driven, I know you can't really quantify it but a sense of the market impact you suffered from HP's pricing relative to the switchers campaign or trying to win over first time buyers and do you feel comfortable with your current price structure for your product portfolio?

最後，回到我們認為非常激進的定價，這是由惠普非常受市場份額驅動的，我知道你無法真正量化它，但你可以感受到惠普的定價相對於切換器活動或試圖贏得首次購買者的青睞，您對當前產品組合的價格結構感到滿意嗎？

Last one first, we feel comfortable with the pricing of our current product portfolio.

最後一個第一，我們對我們當前產品組合的定價感到滿意。

You know, we kind of have our own customer base and I don't mean to tell you that we aren't affected somewhat competitively by pricing actions by others but not to the degree of the rest of the Intel world because we have our own Macro S platform.

你知道，我們有自己的客戶群，我並不是要告訴你，我們不會受到其他人定價行為的影響，但不會像英特爾世界其他地區那樣受到影響，因為我們有自己的宏 S 平台。

So, I don't have the foggiest idea whether there was any impact from HP or not.

所以，我不知道惠普是否有任何影響。

My gut tells me, there wasn't.

我的直覺告訴我，沒有。

In terms of gross margin outlook over the next several years, we've said 27-28% is our goal to manage gross margins in that range.

就未來幾年的毛利率前景而言，我們已經說過 27-28% 是我們在該範圍內管理毛利率的目標。

Last year, we were exactly 27.5% composite for the full year.

去年，我們全年的複合增長率正好是 27.5%。

We're guiding to 27.5 this quarter.

我們本季度的目標是 27.5。

So, somewhere in the middle of that range is probably as good a guesstimate as any.

因此，該範圍中間的某個地方可能與任何猜測一樣好。

I don't know what you're talking about on this first question on, we haven't said anything publicly about any project on reduced costs, I don't know what you're referring to.

我不知道您在第一個問題上在說什麼，我們還沒有公開談論任何降低成本的項目，我不知道您指的是什麼。

I thought there was some initiative ongoing relative to finding ways to, you know, use lower cost components in the Mac and just, essentially, find lower cost ways to build the machines.

我認為在尋找方法方面正在進行一些舉措，你知道，在 Mac 中使用成本更低的組件，基本上就是找到成本更低的方法來構建機器。

I thought that was something that was being talked about or at least, partially underway.

我認為這是正在討論或至少部分進行的事情。

That's not correct?

這不正確嗎？

No, what I would tell you is that our engineering teams and operations are always, you know, looking for ways to deliver the quality product to our high standard specs as low a cost as possible.

不，我要告訴您的是，您知道，我們的工程團隊和運營部門一直在尋找以盡可能低的成本提供符合我們高標準規格的優質產品的方法。

Beyond that, I don't know of any special project, just an ongoing objective here.

除此之外，我不知道有什麼特別的項目，只是一個持續的目標。

Okay, thanks, Fred.

好的，謝謝，弗雷德。

Thank you, Steve.

謝謝你，史蒂夫。

Could we have the next question, please?

請問下一個問題好嗎？

And we'll take our last question today, last question we have from Kevin Hunt with Thomas Weisel Partners.

今天我們將回答最後一個問題，Kevin Hunt 和 Thomas Weisel Partners 的最後一個問題。

Thank you, a couple of things.

謝謝，有幾件事。

On the balance sheet, the inventory days were up a bit and that's retail stores, do you have a target where that's going to level off in term office days and what that means for cash conversion cycle?

在資產負債表上，庫存天數略有上升，那是零售店，您是否有一個目標，在長期辦公天數內將趨於平穩，這對現金轉換週期意味著什麼？

Secondly, just wanted to see, was there anything really surprising to you this quarter in terms of up side and down side?

其次，只是想看看，在本季度的上行和下行方面，你有什麼真正令人驚訝的事情嗎？

I think your iBook was up pretty substantially, I don't know if you planned for that to be the case?

我認為您的 iBook 已經大幅上漲，我不知道您是否計劃這樣做？

I would say that the positives were some over performance on the iPod.

我會說積極的一面是 iPod 的性能有些過頭了。

The record sales on the PowerBook and we had a great quarter, as expected, on the upgrade sales with Panther.

PowerBook 的銷售創紀錄，正如預期的那樣，我們在 Panther 的升級銷售方面表現出色。

Those would be the three highlights I would mention.

這就是我要提到的三個亮點。

Second question you had?

你有第二個問題？

Just on the balance sheet?

只是在資產負債表上？

Yeah, I'll ask Peter to address that.

是的，我會請彼得解決這個問題。

Kevin, on the inventory was up 33 million, roughly two-thirds of that increase was in the stores and about a third was in our Distribution Centers.

凱文的庫存增加了 3300 萬，其中大約三分之二在商店，大約三分之一在我們的配送中心。

I don't want to get into giving a specific dollar target on inventory, going forward.

我不想在未來給出一個特定的庫存美元目標。

We are typically keeping two to three weeks of inventory in the stores.

我們通常會在商店中保留兩到三週的庫存。

The other factor that contributed positively to cash generation in the quarter and our cash conversion cycle is DSO.

另一個對本季度現金產生和我們的現金轉換週期做出積極貢獻的因素是 DSO。

It actually was a company record of 27 days, driven by two things, first the quarter was very linear as you expect in the Christmas quarter and also, the higher direct sales played into that as well.

這實際上是 27 天的公司記錄，由兩件事驅動，首先，正如您在聖誕節季度所預期的那樣，該季度非常線性，而且更高的直接銷售額也起到了作用。

And I'd like to pick up on that.

我想了解一下。

I would add to the three I gave you.

我會添加到我給你的三個。

We had an even better quarter than expected on the part of our own retail stores, so our retail division did a phenomenal job and say the same thing about our Apple online store.

就我們自己的零售店而言，我們的季度業績比預期的還要好，因此我們的零售部門做得非常出色，並且對我們的 Apple 在線商店也說了同樣的話。

Both, we had a higher percent of direct business than I think we expected and they both turned in outstanding quarter performance, both those groups.

兩者，我們的直接業務百分比都比我想像的要高，而且他們都取得了出色的季度業績，這兩個群體。

Thanks, Kevin.

謝謝，凱文。

Recording of today's call will be available for replay via telephone for seven days beginning at about 5:00 P.M.

從下午 5:00 左右開始，今天的通話錄音將可通過電話重播 7 天。

Pacific time today.

今天太平洋時間。

The number for that replay is 719-457-0820 and the confirmation code is 316102.

該重播的號碼是 719-457-0820，確認碼是 316102。

A replay of the audio webcast of this call will also be available beginning at about 5:00 Pacific time today at www.apple.com/investor and will remain available for approximately 12 months.

本次電話會議的音頻網絡廣播的重播也將於太平洋時間今天 5:00 左右開始在 www.apple.com/investor 上播放，並將持續播放約 12 個月。

Members of the press with additional questions can contact Steve Dowling at 408-974-1896.

有其他問題的媒體成員可以撥打 408-974-1896 聯繫史蒂夫·道林。

Financial analysts can contact Joan Huber or me with additional questions, Joan is at 408-974-4570 and I am at 408-974-5420 and thanks again for joining us.

金融分析師可以聯繫 Joan Huber 或我有其他問題，Joan 的電話是 408-974-4570，我的電話是 408-974-5420，再次感謝您加入我們。

And this does conclude our conference call for today.

這確實結束了我們今天的電話會議。

We would like to thank for your participation.

我們要感謝您的參與。

You may disconnect at this time.

此時您可以斷開連接。