蘋果 (AAPL) 2006 Q2 法說會逐字稿

Good day and welcome to this Apple Computer second quarter financial results conference call.

美好的一天，歡迎參加 Apple Computer 第二季度財務業績電話會議。

Today's call is being recorded.

今天的電話正在錄音。

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

在此進行開幕致辭和介紹時，我想將電話轉給 Nancy Paxton：投資者關係和公司財務高級總監。

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。

Speaking today is Apple CFO Peter Oppenheimer, and he'll be joined by Apple COO Tim Cook, and Apple treasurer Gary Whipfler for the Q & A session with analysts.

今天發言的是蘋果首席財務官彼得奧本海默，蘋果首席運營官蒂姆庫克和蘋果財務主管加里惠普弗勒將與他一起參加與分析師的問答環節。

Apple's second quarter spans 13 weeks compared to the 14 weeks spanned by our first quarter this year.

與今年第一季度的 14 週相比，Apple 的第二季度為 13 週。

Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements regarding revenue, gross margin, operating expenses, other income and expense, taxes, earnings per share, Apple's retail initiatives, demand for Macintosh computers, future products, including Intel-based Macs and non-cash stock-based compensation expense.

請注意，您將在我們今天的討論中聽到的一些信息將包括有關收入、毛利率、運營費用、其他收入和費用、稅收、每股收益、Apple 的零售計劃、對 Macintosh 電腦的需求的前瞻性陳述，未來的產品，包括基於英特爾的 Mac 和基於非現金股票的補償費用。

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 the risk factors discussed in Apple's Form 10-K for 2005 as well as the Form 10-Q for the first fiscal quarter.

有關更多信息，請參閱 Apple 2005 年的 10-K 表格以及第一財季的 10-Q 表格中討論的風險因素。

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

另請注意，今天電話會議中包含的任何非 GAAP 財務指標都應作為 Apple GAAP 結果的補充而非替代。

A reconciliation of any GAAP and non-GAAP measures discussed will be posted on Apple's website at www.apple.com/investor.

所討論的任何 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 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。

And with that I'd like to turn the call over to Peter Oppenheimer for introductory remarks.

有了這個，我想把電話轉給彼得奧本海默做介紹性發言。

Thank you Nancy.

謝謝南希。

Thank you for joining us.

感謝您加入我們。

We are very pleased to report March quarter results that exceeded our guidance for both revenue and earnings.

我們很高興地報告 3 月季度業績超出了我們對收入和收益的指導。

The quarter's revenue of $4.36 billion was the second highest in Apple's history, topped only by our record December quarter results and grew 34% year-over-year.

該季度的收入為 43.6 億美元，是蘋果歷史上第二高的收入，僅次於我們創紀錄的 12 月季度業績，同比增長 34%。

These results were driven by continued strong growth in our Music business and solid performance in our Mac business during the transition to Intel.

這些結果是由我們音樂業務的持續強勁增長和我們在向英特爾過渡期間 Mac 業務的穩健表現推動的。

Operating margin for the quarter was 12.1%, and net income was $410 million, or $0.47 per diluted share on a GAAP basis.

本季度的營業利潤率為 12.1%，淨利潤為 4.1 億美元，或按公認會計原則計算的每股攤薄收益 0.47 美元。

Excluding the impact of 42 million in non-cash stock-based compensation expense, operating margin was 13.1%, net income was 440 million and diluted earnings per share were $0.50.

排除 4200 萬非現金股票補償費用的影響，營業利潤率為 13.1%，淨收入為 4.4 億美元，攤薄後每股收益為 0.50 美元。

The quarter's non-GAAP operating margin was the second-best ever for Apple and demonstrates the leverage in our business model.

本季度的非 GAAP 營業利潤率是 Apple 有史以來第二高的，這表明了我們商業模式的影響力。

I'd like to first talk about our Mac business, which represented 50% of our total quarterly revenue, and increased 7% year-over-year.

我想先談談我們的 Mac 業務，它占我們季度總收入的 50%，同比增長 7%。

Mac units were up 4% year over year to 1.11 million, and ending channel inventory was within our target range of 4 to 5 weeks.

Mac 單位同比增長 4% 至 111 萬台，期末渠道庫存在我們 4 至 5 週的目標範圍內。

We continued to be very happy with our progress in the Intel transition.

我們繼續對英特爾過渡的進展感到非常滿意。

We have introduced the Mac Pro, new iMac and new Mac mini with Intel processors and we are solidly on track to have the entire Mac product line transitioned by the end of this calendar year.

我們已經推出了配備英特爾處理器的 Mac Pro、新 iMac 和新 Mac mini，並且我們正在穩步推進整個 Mac 產品線在本日曆年年底之前的過渡。

In January, we indicated that we have seen a pause in customer demand in the December quarter, as customers began to anticipate the introduction of the Intel Mac.

1 月份，我們表示，由於客戶開始期待英特爾 Mac 的推出，我們看到客戶需求在 12 月季度出現了停頓。

And we said that we were factoring the transition into our guidance for the March quarter.

我們說我們正在將過渡因素納入我們對 3 月季度的指導。

As we anticipated, this pause was even more evident during the March quarter and was generally observed in three areas: First, we announced the MacBook Pro at MacWorld and began to ship in late February, which limited the number of shipping weeks in the quarter.

正如我們預期的那樣，這種停頓在 3 月季度更加明顯，通常體現在三個方面：首先，我們在 MacWorld 上發布了 MacBook Pro，並於 2 月下旬開始發貨，這限制了本季度的發貨週數。

Second, we observed purchasing delays as some customers are waiting for the remainder of our product announcements.

其次，我們觀察到購買延遲，因為一些客戶正在等待我們剩餘的產品公告。

Third, while developer progress on universal applications has been excellent, we believe some customers are delaying purchasing until certain universal applications are available.

第三，雖然通用應用程序的開發人員進展非常順利，但我們認為一些客戶會延遲購買，直到某些通用應用程序可用。

Customer and industry analyst feedback on the new Intel-based products has been very positive.

客戶和行業分析師對基於英特爾的新產品的反饋非常積極。

And we're very enthusiastic about the additional Intel-based Macs that we will be introducing this year.

我們對今年將推出的其他基於 Intel 的 Mac 充滿熱情。

We have released universal versions of Apple software including iLife, iWorks, QuickTime, Final Cut Studio, Aperture, and Logic.

我們已經發布了 Apple 軟件的通用版本，包括 iLife、iWorks、QuickTime、Final Cut Studio、Aperture 和 Logic。

Our third party developers are making excellent progress with our transitions as well, with over 1500 universal applications currently available and commitments from key developers such as Adobe and Microsoft.

我們的第三方開發人員在我們的過渡方面也取得了顯著進展，目前有 1500 多個通用應用程序可用，並且來自 Adobe 和 Microsoft 等主要開發人員的承諾。

Our Music business posted another quarter of very strong results, representing 50% of total company revenue and increasing 79% year over year. iPod shipments grew 61% year over year, and we have cumulatively shipped over 50 million.

我們的音樂業務又發布了一個非常強勁的季度業績，占公司總收入的 50%，同比增長 79%。 iPod 出貨量同比增長 61%，我們累計出貨量超過 5000 萬台。

We exited the quarter within our target range of four to six weeks for iPod channel inventory.

我們在 iPod 渠道庫存的四到六週目標範圍內退出了本季度。

Other Music product revenue was 485 million, up 125% year over year, and about flat sequentially with the 14-week holiday quarter.

其他音樂產品收入為 4.85 億美元，同比增長 125%，與 14 週假期季度環比持平。

These results were a function of continued strong sales from the iTunes music store, the introduction of the iPod hi-fi, and very solid demand for other iPod accessory products.

這些結果是由於 iTunes 音樂商店持續強勁的銷售、iPod hi-fi 的推出以及對其他 iPod 配件產品的強勁需求。

The iTunes Music Store sold its 1 billionth song during the March quarter.

iTunes 音樂商店在第三季度售出了第 10 億首歌曲。

According to the most recent data from Nielson SoundScan, the iTunes Music Store counts for 87% share of the market for legally purchased and downloaded music in the United States.

根據 Nielson SoundScan 的最新數據，iTunes 音樂商店在美國合法購買和下載的音樂市場中佔有 87% 的份額。

The music store's U.S. content has continued to expand impressively, and now includes over 2.9 million songs, 60,000 podcasts, 9,000 music videos and over 70 television programs from ABC, NBC, CBS, HBO, ESPN and Showtime.

這家音樂商店的美國內容繼續以驚人的速度擴張，現在包括來自 ABC、NBC、CBS、HBO、ESPN 和 Showtime 的超過 290 萬首歌曲、60,000 個播客、9,000 個音樂視頻和 70 多個電視節目。

We remain extremely enthusiastic about Apple's music business.

我們仍然對 Apple 的音樂業務充滿熱情。

Despite a large field of competitors, the most recently published data from NPD Tech World shows that Apple's share of the U.S. market for MP3 players has increased in March to 78% from 71% in December.

儘管競爭對手眾多，但 NPD Tech World 最近公佈的數據顯示，蘋果在美國 MP3 播放器市場的份額已從 12 月的 71% 增加到 3 月的 78%。

The iPod ecosystem continues to thrive, with over 2,000 iPod accessories currently available.

iPod 生態系統繼續蓬勃發展，目前有超過 2,000 種 iPod 配件可供使用。

There is increasing interest from the automotive industry and we estimate that 40% of new cars sold in the U.S. this year will offer direct iPod integration.

汽車行業的興趣越來越大，我們估計今年在美國銷售的 40% 的新車將提供直接 iPod 集成。

Looking outside the U.S., the iPod is also the top selling MP3 player by a wide margin in the United Kingdom, Japan, Australia, and Canada, based on the latest data from GFK and BCN.

根據 GFK 和 BCN 的最新數據，在美國以外，iPod 也是英國、日本、澳大利亞和加拿大最暢銷的 MP3 播放器。

In the rest of Europe and Asia, we do not enjoy the same level of market share, and we view this as an opportunity.

在歐洲和亞洲其他地區，我們沒有享有同等水平的市場份額，我們認為這是一個機會。

We are optimistic about further market penetration potential globally and our ability to grow international market share.

我們對全球進一步的市場滲透潛力以及我們擴大國際市場份額的能力持樂觀態度。

Considering penetration rates of other consumer electronic products, the MP3 player market has a lot of room for growth.

考慮到其他消費電子產品的滲透率，MP3播放器市場還有很大的增長空間。

According to Forrester research, U.S. household MP3 player penetration was less than one quarter of that of digital still cameras as of the end of 2005.

根據 Forrester 的研究，截至 2005 年底，美國家用 MP3 播放器的普及率不到數碼相機的四分之一。

Turning to Apple's retail segment, revenue from the Apple retail stores totalled $636 million for the quarter, reflecting the transition to Intel and broader indirect iPod distribution.

談到蘋果的零售部門，本季度蘋果零售店的收入總計 6.36 億美元，反映了向英特爾的過渡以及更廣泛的間接 iPod 分銷。

The new-to-Mac percentage increased to 50% of Macs sold in the store's most recent survey.

在該商店最近的調查中，Mac 新用戶的比例增加到了 50%。

We opened six new stores during the quarter, exiting with 141.

我們在本季度開設了 6 家新店，以 141 家退出。

With an average of 138 stores opened during the quarter, average quarterly revenue per store was 4.6 million.

本季度平均開設 138 家門店，每家門店的平均季度收入為 460 萬。

Retail segment profit was 29 million, compared to 42 million in the year-ago quarter, and the associated manufacturing margin not reflected in the retail segment profit was 128 million compared to the 102 million in the year-ago quarter.

零售部門利潤為 2900 萬，而去年同期為 4200 萬，未反映在零售部門利潤中的相關製造利潤為 1.28 億，而去年同期為 1.02 億。

Traffic through our retail stores continued to be strong during the quarter, growing from 13 million visitors to 18.1 million visitors, year-over-year and translating to over 10,000 visitors per store per week.

本季度通過我們零售店的客流量繼續保持強勁，從去年同期的 1300 萬遊客增長到 1810 萬遊客，轉化為每家商店每週超過 10,000 名遊客。

Customer interest in the new creative studios was high during the quarter and we delivered over 50,000 one-to-one personal training sessions.

本季度客戶對新創意工作室的興趣很高，我們提供了超過 50,000 次一對一的個人培訓課程。

We will continue to add new stores at a measured pace and expect to open a total of 40 new stores during fiscal '06.

我們將繼續以有節制的速度增加新店，預計在 06 財年將開設 40 家新店。

In terms of geographic results, including sales from our retail stores, quarterly revenue in the Americas, Europe, and Japan was up 38%, 37%, and 8% respectively.

就地理結果而言，包括我們零售店的銷售額，美洲、歐洲和日本的季度收入分別增長了 38%、37% 和 8%。

Gross margin was 29.8% on a GAAP basis, about 200 basis points higher than our guidance, primarily due to a favorable component pricing environment, higher than expected software sales, and lower than expected costs associated with the Intel transition.

按公認會計原則計算，毛利率為 29.8%，比我們的指導高出約 200 個基點，這主要是由於有利的組件定價環境、高於預期的軟件銷售以及與英特爾過渡相關的成本低於預期。

Included in GAAP costs of goods sold, was $5 million of stock-based compensation expense.

GAAP 銷售商品成本中包括 500 萬美元的股票補償費用。

Excluding that expense, non-GAAP gross margin was 29.9%.

不計該費用，非美國通用會計準則毛利率為 29.9%。

GAAP operating expenses were 768 million, including $37 million in expense related to stock-based compensation.

GAAP 運營費用為 7.68 億美元，其中包括與股票薪酬相關的 3700 萬美元費用。

Non-GAAP OpEx was $731 million, in line with our guidance.

非 GAAP 運營支出為 7.31 億美元，符合我們的指導。

OI&E was 76 million and the tax rate was 32%.

OI&E 為 7600 萬，稅率為 32%。

We used some of the cash to make several investments during the quarter.

我們在本季度使用部分現金進行了多項投資。

First, we made the remaining $500 million prepayments relating to the agreements for future supply of NAN flash memory components that we announced in the December quarter.

首先，我們支付了與我們在 12 月季度宣布的未來 NAN 閃存組件供應協議有關的剩餘 5 億美元預付款。

Second, we net share settled executive income tax obligations from investing of restricted shares and share units by purchasing and canceling about 5.5 million shares for $353 million.

其次，我們通過以 3.53 億美元購買和註銷約 550 萬股股票，以淨額結算了投資限制性股票和股票單位的行政所得稅義務。

Third, we spent about $120 million to acquire a new data center in the first of several properties to form a second Cupertino campus.

第三，我們花了大約 1.2 億美元在幾處物業中的第一處購買了一個新的數據中心，以形成第二個庫比蒂諾園區。

Fourth, we made other capital expenditures of $73 million, including $42 million for our retail initiative.

第四，我們進行了 7300 萬美元的其他資本支出，其中 4200 萬美元用於我們的零售計劃。

Despite these significant investments, cash declined by just $481 million during the quarter to $8.23 billion due to strong earnings, excellent working capital management and stock option exercises.

儘管進行了這些重大投資，但由於強勁的收益、出色的營運資本管理和股票期權行使，本季度現金僅減少了 4.81 億美元，至 82.3 億美元。

Looking ahead to the June 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.

展望六月季度，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。

From the quarter, we are targeting revenue between $4.2 billion and $4.4 billion.

從本季度開始，我們的目標收入在 42 億美元至 44 億美元之間。

We are factoring into our guidance a continued pause in demand in the Mac business related to the transition to Intel.

我們在我們的指導中考慮了與向英特爾過渡相關的 Mac 業務需求的持續暫停。

We are also factoring in lower ASPs for Macs and iPods, due to the beginning of the education buying season and for the full quarter impact of the iPod shuffle price reduction and the introduction of the one gigabyte Nano.

由於教育購買季節的開始以及 iPod shuffle 降價和推出 1 GB Nano 對整個季度的影響，我們還考慮了 Mac 和 iPod 的 ASP 較低。

We expect total quarterly costs of non-cash stock-based compensation to be approximately 50 million.

我們預計非現金股票薪酬的季度總成本約為 5000 萬美元。

We expect GAAP gross margin to be about 28.4%, reflecting approximately $5 million related to stock-based compensation expense.

我們預計 GAAP 毛利率約為 28.4%，反映出與股票薪酬費用相關的約 500 萬美元。

Without that expense, we expect non-GAAP gross margin to be about 28.5%.

如果沒有這筆費用，我們預計非美國通用會計準則毛利率約為 28.5%。

We expect GAAP OpEx to be $775 million, including about $45 million related to stock-based compensation.

我們預計 GAAP 運營支出為 7.75 億美元，其中包括與股票薪酬相關的約 4500 萬美元。

We expect non-GAAP OpEx to be about $730 million, similar to the March quarter.

我們預計非 GAAP 運營支出約為 7.3 億美元，與 3 月季度相似。

We expect OI&E to be about $85 million and we expect the tax rate to be 32%.

我們預計 OI&E 約為 8500 萬美元，我們預計稅率為 32%。

We expect to generate GAAP EPS of about $0.39 to $0.43, which includes an anticipated $0.04 per share related to non-cash share-based compensation expense.

我們預計將產生約 0.39 美元至 0.43 美元的 GAAP 每股收益，其中包括與基於非現金股票的薪酬費用相關的預期每股 0.04 美元。

We expect non-GAAP EPS to be about $0.43 to $0.47.

我們預計非公認會計原則每股收益約為 0.43 美元至 0.47 美元。

Through the first half of fiscal 2006, Apple has generated over $10 billion in revenue and almost $1 billion in net income.

到 2006 財年上半年，Apple 已經創造了超過 100 億美元的收入和近 10 億美元的淨收入。

We are very proud to have delivered strong revenue in earnings growth during the transition to Intel.

我們非常自豪能夠在向英特爾過渡期間實現強勁的收入增長。

We are extremely happy with how well the transition has been going and we are very enthusiastic about all aspects of our music business.

我們對過渡的順利進行感到非常滿意，我們對音樂業務的各個方面都非常熱情。

We are confident that our strategy of investing in product innovation is working and we are very excited about the products in our pipeline.

我們相信我們投資產品創新的戰略正在奏效，我們對我們正在開發的產品感到非常興奮。

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

有了這個，我想打開問題電話。

May we have the first question please.

請問第一個問題。

Yes. [OPERATOR INSTRUCTIONS].

是的。 [操作員說明]。

We'll take our first question from Richard Chu of Cowen.

我們將向 Cowen 的 Richard Chu 提出第一個問題。

Please go ahead.

請繼續。

Hi.

你好。

Can you hear me?

你能聽到我嗎？

We can.

我們可以。

Okay.

好的。

I wonder if you can talk a little bit more about the gross margin variances.

我想知道你是否可以多談談毛利率差異。

You alluded to component pricing.

您提到了組件定價。

Can you comment on the impact of these purchases of components either benefiting you or hurting you on that point?

您能否評論這些購買組件的影響，無論是對您有利還是對您不利？

And then, second, was mix between systems and iPods a factor at all in the gross margin performance?

其次，系統和 iPod 之間的混合是否是毛利率表現的一個因素？

Thank you.

謝謝你。

Richard, hi, it's Tim.

理查德，嗨，我是蒂姆。

It's -- from a components point of view we were able to secure lower costs than we had planned for the quarter on -- particularly on LCDs and Flash memory and this helped drive the gross margins that Peter talked about in the preamble.

這是 - 從組件的角度來看，我們能夠確保比我們在本季度計劃的成本更低 - 特別是在 LCD 和閃存方面，這有助於推動彼得在序言中談到的毛利率。

Richard, in terms of your -- the second part of your question there were really three factors.

理查德，就你的問題的第二部分而言，實際上有三個因素。

As I indicated that helped us do better on the gross margin.

正如我所指出的，這有助於我們在毛利率上做得更好。

The commodity environment, as Tim alluded to.

正如蒂姆所暗示的那樣，商品環境。

Also, our software sales were better than we expected.

此外，我們的軟件銷售也好於我們的預期。

Particularly with the new iLife and iWork applications that we introduced at MacWorld and in our guidance, we contemplated price reductions on some of our transitioning PowerPC products which we largely didn't need to incur.

尤其是我們在 MacWorld 上推出的新 iLife 和 iWork 應用程序，在我們的指導中，我們考慮了一些我們基本上不需要承擔的過渡 PowerPC 產品的降價。

So mix between iPod and systems was not a variance.

所以 iPod 和系統之間的混合併不是一個差異。

Not a primary one, no.

不是初級的，沒有。

Okay.

好的。

Thank you.

謝謝你。

Thanks, Richard.

謝謝，理查德。

Could we have the next question, please?

請問下一個問題好嗎？

Yes.

是的。

Next we'll go to Ben Reitzes of UBS.

接下來我們將介紹瑞銀的 Ben Reitzes。

Yeah, good afternoon, thanks.

是的，下午好，謝謝。

Could you just characterize what's going on with iPod demand?

你能描述一下 iPod 需求的情況嗎？

Obviously 8.5 is a big drop-off from the 14.1, and obviously there's seasonality, there was some things with the extra week.

顯然 8.5 比 14.1 有很大的下降，而且顯然有季節性，額外的一周有一些事情。

Maybe you can go back in time as well and talk about what the extra week might have in hindsight now given you in iPods and then how iPods are going out of the quarter and then, to make this question longer, it seems that based on the ASP there was a drop-off in Nanos a little more than expected.

也許你也可以回到過去，談談現在考慮到你在 iPod 中的額外一周可能會有什麼，然後 iPod 在本季度結束時如何，然後，為了讓這個問題更長，似乎基於Nanos 的 ASP 下降幅度略高於預期。

So could you just characterize the state of iPod demand?

那麼你能描述一下 iPod 的需求狀態嗎？

Overall, Ben, we are very pleased with the quarter.

總的來說，本，我們對這個季度非常滿意。

We shipped 8.5 million iPods and it was up over 60% year over year.

我們出貨了 850 萬台 iPod，同比增長超過 60%。

The December quarter included a 14th week, and that week fell between Christmas and New Year's.

12 月季度包括第 14 週，那一周介於聖誕節和新年之間。

And was one of the better shopping weeks of the -- the year.

並且是一年中最好的購物週之一。

And so that week sell-through was certainly better than the average of the quarter.

因此，那一周的銷售量肯定好於本季度的平均水平。

And as we discussed in January, we also increased the channel inventory by about 550,000 iPods.

正如我們在一月份所討論的，我們還將渠道庫存增加了大約 550,000 部 iPod。

So when you take these factors into account, the sequential iPod sales were down much less than 40%, which according to NPD Tech World has been the typical sequential CE unit decline that you've seen from December to March.

因此，當您考慮這些因素時，iPod 的連續銷量下降幅度遠低於 40%，根據 NPD Tech World 的數據，這是您從 12 月到 3 月看到的典型的 CE 單位連續下降。

So I think the state of the iPods we're very, very happy with it, with the results that we had this quarter.

所以我認為我們對 iPod 的狀態非常非常滿意，我們在本季度取得了結果。

And are excited about what we have in the product pipeline.

並對我們在產品管道中擁有的東西感到興奮。

What is in your guidance for iPods?

您對 iPod 的指導是什麼？

And maybe more on guidance is you're basically flattish in revenue but yet you -- you should do better in Macs because you may have more units.

也許更多的指導是你的收入基本上持平，但你 - 你應該在 Mac 上做得更好，因為你可能有更多的單位。

So if you could just characterize some of the puts and takes between iPods and Macs that went into that guidance.

因此，如果您可以描述該指南中的 iPod 和 Mac 之間的一些投入和產出。

Okay.

好的。

Well, as you know, we don't give product level guidance but as I indicated in my prepared remarks, we are factoring into the guidance a continued pause in demand from the transition to Intel.

好吧，如您所知，我們不提供產品級指導，但正如我在準備好的評論中指出的那樣，我們正在將指導考慮到從過渡到英特爾的需求持續暫停。

And we're -- included in that are our thinking that some customers may wait for unannounced products, and certain applications becoming universal.

我們 - 包括在我們的想法中，一些客戶可能會等待未發布的產品，並且某些應用程序變得普遍。

And we've also factored lower ASPs into the guidance, both for Mac and iPod as we enter the education buying season, and incur the fourth quarter impact of the Shuffle price decrease and the introduction of the one gigabyte Nano.

當我們進入教育購買季節時，我們還在指導中考慮了較低的 ASP，包括 Mac 和 iPod，並受到 Shuffle 價格下降和 1 GB Nano 推出的第四季度影響。

Okay.

好的。

And lastly before I go back in the queue, is retail -- you seem to be below expectations and was there some kind of dynamic there where people were buying on-line and -- because of all the preorders of Macs or some kind of dynamic there that held retail sales down?

最後，在我重新排隊之前，是零售業——你似乎低於預期，人們在網上購買時是否存在某種動態——因為 Mac 的所有預購或某種動態那裡的零售額下降了？

Well, our retail stores were really focusing on the -- on the transition to Intel.

好吧，我們的零售店真正專注於向英特爾的過渡。

And given our Intel announcement that we made at MacWorld with later delivery, particularly with the MacBook Pro.

考慮到我們在 MacWorld 上發布的英特爾聲明，稍後交付，尤其是 MacBook Pro。

This limited the number of shipping weeks in the quarter.

這限制了本季度的運輸週數。

And this, combined with the overall pause we observed impacted the quarter.

再加上我們觀察到的整體停頓影響了本季度。

And just to add a little color to that, the retail stores have really been focused on the transition to Intel and immediately upon our announcement that MacWorld, we changed all the product merchandising and the window displays and graphics in the store, really to communicate that this was the future.

只是為了增加一點色彩，零售店一直專注於向英特爾的過渡，在我們宣布 MacWorld 後，我們立即更改了所有產品銷售以及商店中的櫥窗展示和圖形，真正傳達這一點這就是未來。

As Intel-based Macs arrived in the stores, we stopped carrying the comparable PowerPC models and, as you may have seen, our retail sales teams were not discouraged from telling customers to wait for Intel-based Macs if that was the best thing for the customer.

當基於 Intel 的 Mac 進入商店時，我們停止銷售類似的 PowerPC 型號，正如您可能已經看到的，我們的零售團隊並沒有氣餒告訴客戶等待基於 Intel 的 Mac，如果這是最好的事情的話顧客。

Okay.

好的。

Thank you.

謝謝你。

Thanks, Ben.

謝謝，本。

Could we have the next question, please?

請問下一個問題好嗎？

Yes.

是的。

Next we'll go to Gene Munster of Piper Jaffray.

接下來我們將介紹 Piper Jaffray 的 Gene Munster。

Please go ahead.

請繼續。

Good afternoon, everybody.

大家下午好。

Just I guess in terms of the iPod market share, can you give us some color what was domestic versus international?

只是我想就 iPod 的市場份額而言，你能給我們一些關於國內與國際的區別嗎？

Sure.

當然。

We have some data that we have from GFK and BCM and NPD.

我們有一些來自 GFK、BCM 和 NPD 的數據。

As I indicated, the March NPD data just came out this morning and we were thrilled.

正如我所指出的，3 月 NPD 數據今天早上剛剛出爐，我們非常激動。

Our market share increased to 78%, excuse me, from 71% in the December quarter.

對不起，我們的市場份額從 12 月季度的 71% 增加到 78%。

And we don't have March data yet internationally, but we do have some February data.

我們還沒有國際上 3 月份的數據，但我們確實有一些 2 月份的數據。

Our market share increased in each of these markets from December to February.

從 12 月到 2 月，我們在每個市場的市場份額都有所增加。

In the UK we were 40%.

在英國，我們是 40%。

Japan was 54%.

日本為 54%。

Canada was 45%, and Australia was 58%.

加拿大為 45%，澳大利亞為 58%。

Okay.

好的。

And I guess on that note, what percentage of your iPod sales are domestic versus international?

而且我想在那張紙條上，你的 iPod 銷售中國內與國際的百分比是多少？

Gene, that's something that we just don't discuss, we don't want to help our competitors.

吉恩，這是我們不討論的事情，我們不想幫助我們的競爭對手。

Okay.

好的。

Well, I guess it's safe to say that if you look at some of those other geographies you have a much lower market share as you said, and you mentioned in your prepared comments about just global expansion with the iPod, which is -- sounds nice, but maybe you can talk a little bit about how you're actually going to do that.

好吧，我想可以肯定地說，如果你看看其他一些地區，你所說的市場份額要低得多，而且你在準備好的評論中提到 iPod 只是全球擴張，這聽起來不錯，但也許你可以談談你實際上將如何做到這一點。

Okay.

好的。

I'll make some comments and Tim may want to add on.

我會發表一些評論，Tim 可能想補充一下。

If you look outside from the international countries that I referenced, such as Italy and Spain and Eastern Europe and even China and Korea, our market share is much less than what I referenced in those five countries.

如果您從我提到的國際國家（例如意大利和西班牙以及東歐甚至中國和韓國）向外看，我們的市場份額遠低於我在這五個國家中提到的市場份額。

And we are focused on increasing share by increasing our local advertising and points of distribution.

我們專注於通過增加本地廣告和分銷點來增加份額。

And we have seen some success there.

我們在那裡看到了一些成功。

For example, in -- since December in Germany, our share has improved by 10 points, up to 21%.

例如，自 12 月以來在德國，我們的份額提高了 10 個百分點，達到 21%。

And in France we gained four points up to 11%.

在法國，我們獲得了 4 分，最高 11%。

Okay.

好的。

So it's more directly related to advertising versus the pricing of the iPod?

所以它更直接地與廣告相關而不是 iPod 的定價？

I think it's many things.

我認為這是很多事情。

It's our great product lineup, our distribution, the advertising we're doing, the Music Store.

這是我們偉大的產品陣容、我們的分銷、我們正在做的廣告、音樂商店。

Okay.

好的。

And on another topic here in terms of the Mac business.

關於 Mac 業務的另一個主題。

I was a little bit surprised to see that the pricing of the Mac mini increased and, granted, you built in a lot more functionality but I would have thought that maybe you guys would have taken advantage of some of those pricing advantages with Intel platform and tried to pass it along to pick up market share, but it seemed like you're going in a little bit different direction.

看到 Mac mini 的價格上漲，我有點驚訝，當然，你們內置了更多的功能，但我想也許你們會利用英特爾平台的一些定價優勢，並且試圖通過它來獲得市場份額，但看起來你的方向有點不同。

Is it safe to say you're going to kind of continue in that -- the same direction you're going in terms of the pricing, or is every day a new day in terms of potentially where you could go with your pricing?

可以肯定地說你會繼續這樣做——就定價而言，你將朝著相同的方向前進，或者就定價的潛在方向而言，每一天都是新的一天？

Gene, I don't want to comment on our future pricing plans but I would make the point that we viewed the Mac mini as an incredible value.

Gene，我不想評論我們未來的定價計劃，但我想說的是，我們認為 Mac mini 具有令人難以置信的價值。

With Mac mini, we began to ship front row for the first time on the Mac mini.

有了 Mac mini，我們開始在 Mac mini 上首次出貨。

It also is the lowest price point to get into the iLife suite.

這也是進入 iLife 套件的最低價格點。

And so overall we think it's a great value for customers.

所以總的來說，我們認為這對客戶來說是一個巨大的價值。

Okay.

好的。

But is it safe to say that your general thinking about pricing exists in the future or do you think it potentially could change, any thoughts on that front?

但是，是否可以肯定地說您對定價的一般想法存在於未來，或者您認為它可能會改變，在這方面有什麼想法嗎？

I'm not going to project our future pricing.

我不會預測我們未來的定價。

Okay.

好的。

One more just housekeeping item here.

這裡還有一個只是家政項目。

When -- there's some controversy when the actual back-to-school buying season starts.

什麼時候 - 當實際的返校購買季節開始時存在一些爭議。

Is it in May through the end of September?

是從五月到九月底嗎？

Can you just give us some color on that?

你能給我們一些顏色嗎？

We generally begin to see some uplift in late June but it's principally in July through September.

我們通常在 6 月下旬開始看到一些上升，但主要是在 7 月到 9 月。

Okay.

好的。

So let's just -- I know you guys aren't going to announce timing of products but for example, the iBook, when would that have to be out again?

所以讓我們——我知道你們不會宣布產品的時間安排，但例如 iBook，什麼時候必須再次發布？

This is not about the exact timing but when would that have to be out to basically really hit the sweet spot of the back to school?

這不是關於確切的時間，而是什麼時候才能真正達到返校的最佳時機？

We're not going to comment on unannounced products.

我們不會對未發布的產品發表評論。

Okay.

好的。

But any just comments in terms of what the best window for getting the iBook out would be?

但是，對於將 iBook 推出的最佳窗口是什麼，是否有任何公正的評論？

Again, I'm not going to comment on unannounced products.

同樣，我不會評論未發布的產品。

Thank you, sir.

謝謝你，先生。

We'll take our next question from Richard Gardner of Citigroup.

我們將向花旗集團的理查德·加德納提出下一個問題。

Okay.

好的。

Thank you.

謝謝你。

Tim, one for you.

蒂姆，給你一個。

I was hoping maybe you could comment on the supply/demand balance for the new Intel-based products that you've launched so far this year exiting the quarter.

我希望您能對今年截至本季度推出的基於英特爾的新產品的供需平衡發表評論。

And then I guess for Peter, I know we've been talking about seasonality in your guidance for the June quarter throughout the call.

然後我想對於彼得來說，我知道我們在整個電話會議期間的 6 月季度指導中一直在談論季節性。

But can you just give us a sense of what you consider to be normal seasonality for both the Mac and the Music businesses going into June, excluding some of the product transition and other -- other I guess unusual things that you might have going on?

但是你能否告訴我們你認為 Mac 和音樂業務進入 6 月的正常季節性，不包括一些產品過渡和其他——我猜你可能會發生其他不尋常的事情？

Thanks.

謝謝。

Okay.

好的。

Rich.

富有的。

How about if I start and then Tim can answer your first question.

如果我開始，然後蒂姆可以回答你的第一個問題，怎麼樣。

Okay.

好的。

For the iPod, past seasonal trends are really not applicable this year as prior year's supply constraints particularly with the iPod mini.

對於 iPod，過去的季節性趨勢在今年確實不適用，因為前一年的供應限制，尤其是 iPod mini。

So we're not sure that we have good historical datapoints to reference.

所以我們不確定我們是否有好的歷史數據點可供參考。

For the Mac, past seasonal trends other than the beginning of the education buying season are also likely to not be as appropriate given our transition to Intel.

對於 Mac，考慮到我們向英特爾的過渡，除教育購買季節開始之外的過去季節性趨勢也可能不合適。

Rich, on the three different products that we announced during the quarter that have Intel processors, the iMac was in reasonable supply the entire quarter.

Rich，在我們在本季度宣布的三款配備英特爾處理器的不同產品中，iMac 在整個季度的供應量都很合理。

The MacBook Pro, the shipments of the MacBook Pro accelerated in March, February shipments were relatively low.

MacBook Pro，3月份MacBook Pro的出貨量加速，2月份的出貨量相對較低。

In March the last two weeks of the quarter were particularly strong.

3 月份，該季度的最後兩週表現尤為強勁。

And with those strong shipments, which included a significant amount of units that were in transit at the end of the quarter, we -- we reduced our backlog to normal levels.

由於出貨量強勁，其中包括本季度末在途的大量產品，我們 - 我們將積壓訂單減少到正常水平。

I would stress again the number of weeks that it was shipping obviously were limited for the quarter.

我要再次強調它在本季度的運輸週數顯然是有限的。

On the Mac mini, we announced that at the end of February and were able to ship that for four weeks of the quarter.

在 Mac mini 上，我們在 2 月底宣布了這一消息，並且能夠在本季度的四個星期內發貨。

Okay.

好的。

And then if I could just follow up with one more question.

然後，如果我可以再回答一個問題。

Peter, could you just give us a sense of what the geographic mix is going to be of the 40 new retail stores that you're opening this year?

彼得，您能否告訴我們您今年將開設的 40 家新零售店的地理組合？

Primarily in the U.S.

主要在美國

Any sense of how many internationals are included in that?

知道其中包括多少國際球員嗎？

I think a little more than 30 will be in the United States.

我想30多一點會在美國。

Okay.

好的。

All right.

好的。

Thank you.

謝謝你。

Thanks, Rich.

謝謝，里奇。

Could we have the next question, please?

請問下一個問題好嗎？

Yes.

是的。

We'll take our next question from Bill Fearnley of FTN Midwest Securities.

我們將向 FTN Midwest Securities 的 Bill Fearnley 提出下一個問題。

Yes, thanks, guys.

是的，謝謝，伙計們。

I'd like to take another crack at the iBook question.

我想再次破解 iBook 問題。

With the current product with the G4 processor, do you see having that as your offering going to the K-12 education institution, the selling season or the preselling season for delivery in July through September?

對於帶有 G4 處理器的當前產品，您是否認為在 7 月至 9 月交付給 K-12 教育機構、銷售季節或預售季節？

Do you think that's going to hurt you in the education business, or do you think you'll be able to sell some of the G4 processors into the education institutions?

你認為這會傷害你在教育行業，還是你認為你可以將一些 G4 處理器賣給教育機構？

And then I have a follow-up.

然後我有一個跟進。

Bill, again I'm not going to comment on our product plans but I would tell you that we're very proud of the iBook G4 and many customers are continuing to buy it and it's a great product.

比爾，我不會再次評論我們的產品計劃，但我會告訴你，我們為 iBook G4 感到非常自豪，許多客戶繼續購買它，它是一款很棒的產品。

Do you think you'd have to take any pricing actions on it, though, to make it more attractive to institutions for later delivery?

不過，您是否認為您必須對其採取任何定價措施，以使其對機構更具吸引力，以便以後交付？

Again I'm not going to comment on pricing or unannounced products.

同樣，我不會對定價或未發布的產品發表評論。

Okay.

好的。

Thanks.

謝謝。

And also wanted to ask about iPod gross margins.

並且還想問一下 iPod 的毛利率。

You commented that they were above 20% last call.

你評論說他們上次通話的比例超過 20%。

Could you update on what iPod gross margins were here for the second quarter?

您能否更新一下 iPod 第二季度的毛利率？

Yes.

是的。

They were above 20% in the March quarter.

他們在 3 月季度超過 20%。

And any comments on mix Nano versus video iPod or anything that you care to comment on for additional color in the iPod space?

以及關於混合 Nano 與視頻 iPod 的任何評論，或者您想要評論 iPod 空間中的額外顏色的任何內容？

Nothing specifically.

沒什麼特別的。

We were pleased with sales of all of our iPods.

我們對所有 iPod 的銷售感到滿意。

Okay.

好的。

Thanks.

謝謝。

Thanks, Bill.

謝謝，比爾。

Could we have the next question, please?

請問下一個問題好嗎？

[OPERATOR INSTRUCTIONS].

[操作員說明]。

Our next question will come from Chris Whitmore of Deutsche Bank.

我們的下一個問題將來自德意志銀行的 Chris Whitmore。

I was hoping to get some color on the split between iBooks and MacBook Pros during the quarter in terms of units sold.

我希望在本季度對 iBooks 和 MacBook Pro 之間的銷售量有所區別。

And in addition in terms of the inventory levels in the channel, is there any significant difference between desktop inventories in the channel and notebook inventories in the channel?

另外，從渠道庫存水平來看，渠道中的台式機庫存和渠道中的筆記本庫存是否存在顯著差異？

Chris, I won't break out the desktop versus portable channel inventory but I will make some comments about channel inventory on the Mac overall.

克里斯，我不會區分台式機和便攜式渠道庫存，但我會就 Mac 上的渠道庫存做一些評論。

We ended the quarter, as Peter spoke about in the preamble, within the targeted range of four to five weeks.

正如彼得在序言中所說，我們在四到五週的目標範圍內結束了本季度。

If you recall, we began the quarter with less than four weeks in preparation for the MacWorld announcement.

如果你還記得，我們在本季度開始時不到四個星期就準備 MacWorld 的公告。

We were able to return to that targeted range by the end of the quarter by increasing the amount of inventory by about five days.

通過將庫存量增加約五天，我們能夠在本季度末回到目標範圍。

And keep in mind that that inventory is in support of indirect sales only.

請記住，該庫存僅支持間接銷售。

And this split between --

而這種分裂——

We don't split it out.

我們不把它分開。

Separate topic regarding flash pricing, flash pricing's coming off fairly sharply here, clearly helps your gross margins in the quarter.

關於閃存定價的單獨主題，閃存定價在這里大幅下降，顯然有助於您在本季度的毛利率。

What are your thoughts about passing some of those price declines on to customers and accelerating unit growth?

您對將部分價格下跌轉嫁給客戶並加速單位增長有何看法？

Any color on that would be helpful.

上面的任何顏色都會有幫助。

We were able to benefit from flash pricing in the quarter.

我們能夠從本季度的閃存定價中受益。

We did take, if you recall, the Shuffle price down, the entry point, to $69.

如果您還記得的話，我們確實將 Shuffle 價格（切入點）降至 69 美元。

We also cut the price of the one gig Shuffle to $99, and we announced a new entry point for the Nano at $149.

我們還將一次演出 Shuffle 的價格降至 99 美元，並且我們宣布了 Nano 的新切入點，價格為 149 美元。

We think all of those are an incredible value.

我們認為所有這些都是令人難以置信的價值。

Thank you.

謝謝你。

Thanks, Chris.

謝謝，克里斯。

Could we have the next question, please?

請問下一個問題好嗎？

Rebecca Runkle of Morgan Stanley.

摩根士丹利的麗貝卡朗克爾。

Great.

偉大的。

Thanks.

謝謝。

Just a couple of quick questions.

只是幾個簡單的問題。

First, Peter, on iTunes in particular, I believe you've seen seasonality in the first quarter as school let's out in the past, could you just refresh my own memory in the past in terms of what you've seen in the past.

首先，彼得，特別是在 iTunes 上，我相信你在第一季度看到了季節性，因為學校讓我們過去了，你能不能根據你過去看到的內容來刷新我自己的記憶。

I'm sorry, for iTunes?

對不起，iTunes？

Yes.

是的。

And just music downloads.

而且只是音樂下載。

Let me make some comments.

讓我發表一些評論。

I think more between December and March and we'll -- we'll see what happens in June and report to you.

我想在 12 月到 3 月之間更多，我們會 - 我們會看看 6 月會發生什麼並向你報告。

We were thrilled with our other music sales in the quarter, which were up 125% year over year.

我們對本季度的其他音樂銷售額感到非常興奮，同比增長 125%。

And as you know, primarily consists of the iTunes Music Store sales and our iPod and music accessories.

如您所知，主要包括 iTunes 音樂商店的銷售以及我們的 iPod 和音樂配件。

Music sales were actually higher in the March quarter than they were in the December quarter, really showing the momentum that we have in the Music Store around the world.

3 月季度的音樂銷售額實際上高於 12 月季度，這確實顯示了我們在全球音樂商店的勢頭。

In terms of what you might expect for June, again, we don't give specific product guidance, but we think we are continuing to gain momentum, and sales will vary also quarter by quarter.

同樣，就您對 6 月份的預期而言，我們沒有給出具體的產品指導，但我們認為我們將繼續獲得動力，並且銷售量也會逐季變化。

In part, due to new releases.

部分原因是新版本。

And then just shifting gears.

然後只是換檔。

Can you just talk about how -- and what type of CPU trends you saw as the new Intel CPUs became more available and whether or not you saw people come back into the stores as the supply improved?

您能否談談隨著新的英特爾 CPU 變得更加可用以及您是否看到人們隨著供應的改善而回到商店，以及您看到的 CPU 趨勢是什麼類型？

Rebecca, it's Tim.

麗貝卡，是蒂姆。

Shipments of the Intel-based Mac accelerated across the quarter, and the majority of the shipments that we did in the month of March were Intel-based, and I think just to pause, there an incredible accomplishment I think to announce a transition in January and have that occur just 60 days thereafter.

基於英特爾的 Mac 的出貨量在整個季度加速，我們在 3 月份所做的大部分出貨都是基於英特爾的，我想暫停一下，我認為在 1 月份宣布過渡是一項令人難以置信的成就並在 60 天后發生。

The customer response that we've gotten is enormous.

我們得到的客戶反應是巨大的。

The analyst response is enormous.

分析師的反應是巨大的。

And as we saw it, if you look at the adoption rate of percentage of Intel-based units sold to total units, the consumer segment was the highest adoption.

正如我們所看到的，如果你看一下基於英特爾的單元銷售佔總單元的百分比，消費者部分的採用率最高。

And so the stores clearly saw that in the month of March.

所以商店在三月份清楚地看到了這一點。

And then on Boot Camp in particular, any color that you can provide in terms of impact that you saw post that announcement?

然後特別是在新兵訓練營上，您可以提供什麼顏色來說明您在發布該公告時看到的影響？

You know, the response has been written about a lot.

你知道，回复已經寫了很多。

We've had -- we did this because we were getting a lot of customer requests for this, as many Windows users were considering switching to the Mac.

我們已經 - 我們這樣做是因為我們收到了很多客戶對此的要求，因為許多 Windows 用戶正在考慮切換到 Mac。

We think that it makes the Mac even more appealing to them, and -- but it is beta and so we put that out there to get feedback, and we've really just begun that.

我們認為它使 Mac 對他們更具吸引力，而且——但它是測試版，所以我們把它放在那里以獲得反饋，我們真的才剛剛開始。

It's only been out two weeks.

才出來兩週。

But you would say that just in terms of what you saw from consumers and what you saw flowing to the store, what have you, that it was consistent with what we've seen written about from third parties?

但是你會說，就你從消費者那裡看到的以及你看到流向商店的東西而言，你有什麼，這與我們從第三方那裡看到的一致？

We're seeing a high level of interest in it.

我們看到了人們對它的高度興趣。

Great.

偉大的。

Thank you both very much.

非常感謝你們倆。

Thanks Rebecca.

謝謝麗貝卡。

Can we have the next question, please?

請問下一個問題可以嗎？

Our next question comes from Charles Wolf of Needham & Company.

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

Yes.

是的。

I want to stay with Boot Camp.

我想留在新兵訓練營。

Will Apple add Windows virtualization to the final release in Leopard, or will you leave virtualization to third parties such as Parallel?

Apple 會在 Leopard 的最終版本中添加 Windows 虛擬化，還是將虛擬化留給 Parallel 等第三方？

Charlie, we just put it out.

查理，我們把它放出來了。

It's the beta.

這是貝塔。

We will incorporate it in Leopard as we talked about but the purpose of a beta is to get feedback and I wouldn't want to speculate about what we would or would not do.

正如我們所討論的，我們將把它整合到 Leopard 中，但測試版的目的是獲得反饋，我不想推測我們會做什麼或不會做什麼。

Okay.

好的。

Now, has the beta downloads in the past two weeks been substantial?

現在，過去兩週的測試版下載量是否很大？

There is a high level of interest but, again, it's a beta and we're not releasing the download number.

有很高的興趣，但同樣，它是一個測試版，我們沒有公佈下載數量。

Okay.

好的。

Thank you very much.

非常感謝。

Yep.

是的。

Thanks, Charlie.

謝謝，查理。

Can we have the next question, please?

請問下一個問題可以嗎？

Keith Bachman of Banc of America.

美國銀行的基思·巴赫曼。

Mr. Bachman, your line is open, please go ahead.

巴赫曼先生，您的線路已開通，請繼續。

Yes, hi, guys.

是的，嗨，伙計們。

Thanks very much.

非常感謝。

Peter, Tim, I wanted to go back for a second to the desktop number if I could.

彼得，蒂姆，如果可以的話，我想回到桌面號碼。

The desktop was out for a good part of the quarter, and as you mentioned in the -- in the December quarter, there was a little bit of a pause there in anticipation of the new Intel system.

台式機在本季度的大部分時間裡都沒有使用，正如您在 12 月季度中提到的那樣，在期待新的英特爾系統時出現了一些停頓。

Why do you think the number was still a bit slow?

為什麼你覺得這個數字還是有點慢？

And was it -- are you alluding to the software availability as one of the gating factors there?

是嗎 - 您是否暗示軟件可用性是其中的一個關鍵因素？

And I have a follow-up, please.

我有一個跟進，拜託。

Keith, when you look at desk tops, keep in mind that iMac, Mac mini eMac and Power Mac and so we -- as you know, we don't release the specific units on each one of those, but I would share with you that the Intel-based iMac did very well in the quarter.

Keith，當您查看台式機時，請記住 iMac、Mac mini eMac 和 Power Mac 等我們——如您所知，我們不會發布每一個的特定單元，但我會與您分享基於英特爾的 iMac 在本季度表現非常出色。

The Mac mini only shipped for four weeks of the quarter or the Mac mini with the Intel version of the Mac mini as we began shipping in March and the compare there is to the launch quarter of a year ago.

Mac mini 僅在本季度的四個星期內發貨，或者 Mac mini 與 Intel 版本的 Mac mini 一起發貨，因為我們於 3 月開始發貨，與一年前的發布季度相比。

So it's a very difficult compare.

所以這是一個非常困難的比較。

Also, as Peter alluded to, in the preamble, we believe that certain Pro customers are delaying their purchase, waiting on certain apps and the Power Mac would clearly be the unit that would be most affected by the Pro customer delay.

此外，正如 Peter 在序言中提到的那樣，我們認為某些 Pro 客戶正在延遲購買，等待某些應用程序，而 Power Mac 顯然是受 Pro 客戶延遲影響最大的設備。

But Tim would it also be the high end of the -- of the i-Mac and if Adobe is publicly indicated that they're not going to have their versions ready natively until '07, how should we be thinking about that impacting?

但蒂姆也會是 i-Mac 的高端產品，如果 Adobe 公開表示他們不會在 07 年之前原生準備好他們的版本，我們應該如何考慮這種影響？

In other words, when do you think the pause ends?

換句話說，你認為暫停什麼時候結束？

Well, Adobe has said that their application will be universal with the next release.

好吧，Adobe 已經表示他們的應用程序將在下一個版本中通用。

Casual users of Photoshop may be satisfied with using PhotoShop with Rosetta.

Photoshop 的普通用戶可能會對使用帶有 Rosetta 的 PhotoShop 感到滿意。

A heavy user of PhotoShop would likely not be satisfied with the performance of Photoshop running under Rosetta, and frankly it's very hard to assess the specific impact of it, but we do believe that this is affecting Mac sales and we're working very closely with Adobe to get the creative suite out as soon as possible.

PhotoShop 的重度用戶可能不會對在 Rosetta 下運行的 Photoshop 的性能感到滿意，坦率地說，很難評估它的具體影響，但我們確實認為這會影響 Mac 的銷售，我們正在密切合作Adobe 盡快推出創意套件。

Let me try one last one and then I'll cede the floor.

讓我試試最後一個，然後我會放棄發言權。

You've indicated you think you might have some additional pause in June and clearly with the Mac or the iBook pending that makes sense, but would that in your mind be the end of any kind of pause at the June quarter?

您已經表示您認為您可能會在 6 月有一些額外的停頓，並且顯然 Mac 或 iBook 待定是有道理的，但您認為這會是 6 月季度任何停頓的結束嗎？

I don't want to predict the -- beyond the current quarter and giving guidance for the current quarter.

我不想預測 - 超出當前季度並為當前季度提供指導。

We are very focused on the -- what we believe are the key factors in getting through the transition and those are: One getting all of our hardware moved and we are on target to do that by the end of the year as we -- as Steve reported earlier at MacWorld.

我們非常關注 - 我們認為是完成過渡的關鍵因素，這些因素是：一個讓我們所有的硬件移動，我們的目標是在今年年底之前做到這一點，因為我們 - 作為史蒂夫早些時候在 MacWorld 上報導過。

Number two, to get our apps universal and we are pleased to report that the predominant apps in video and audio and our consumer apps are forwarded as of the end of March.

第二，為了讓我們的應用程序通用，我們很高興地報告，視頻和音頻領域的主要應用程序以及我們的消費者應用程序已於 3 月底轉發。

Number three is working with our developers.

第三是與我們的開發人員合作。

And as Peter said earlier, we've had 1500 that are already universal.

正如彼得之前所說，我們已經有 1500 個已經通用了。

And 50% of the top 500 will be by the end of April.

前 500 名中的 50% 將在 4 月底之前完成。

And so we feel that this progress in less than 90 days, this enormous progress, that I'm not going to predict when we will get through all of that, other than to say that we are on target on the hardware schedule that we had announced earlier.

所以我們覺得在不到 90 天的時間內取得了這樣的進展，這是巨大的進展，我不打算預測我們什麼時候能完成所有這些，除了說我們在硬件計劃上達到了目標早些時候宣布。

Okay.

好的。

Thanks very much for taking my question.

非常感謝您提出我的問題。

Thank you, Keith.

謝謝你，基思。

Could we have the next question, please?

請問下一個問題好嗎？

Richard Farmer, of Merrill Lynch.

美林證券的理查德·法默。

Thank you.

謝謝你。

Three questions, please.

請教三個問題。

Peter, I will take another crack at the iPod hardware gross margin.

彼得，我將再次破解 iPod 硬件毛利率。

You've said that it was over 20%.

你說超過20%。

There are a lot of potential numbers above 20.

有很多潛在的數字超過 20。

Can you provide any more color there?

你能提供更多的顏色嗎？

Was it for instance closer to 25 than 20?

例如，是不是更接近 25 而不是 20？

Richard, I think the only color that I will go into is that it was sequentially better in the March quarter from December and above 20%.

理查德，我認為我要討論的唯一顏色是，它在 3 月季度比 12 月連續好得多，並且超過 20%。

As we've indicated before, our competitors would just love to know what our specific gross margins are and shipments by product and by geography and we just don't want to help them.

正如我們之前所指出的，我們的競爭對手只是想知道我們的具體毛利率是多少，以及按產品和地理位置劃分的出貨量，我們只是不想幫助他們。

Okay.

好的。

Two other brief ones, please.

請另外兩個簡短的。

If you look at the observed price declines in the flash contract market, how big of a lag is there typically between those declines and then Apple's ability to take advantage of that pricing in margin in the iPod product?

如果您觀察閃存合約市場中觀察到的價格下降，那麼這些下降與蘋果利用 iPod 產品利潤率定價的能力之間通常存在多大的滯後？

We don't really talk about the specifics of our commercial deals, but I would tell you that the advantage that we got on flash pricing during the last quarter was one of the keys behind our gross margin meeting the guidance.

我們並沒有真正談論我們商業交易的細節，但我會告訴你，我們在上個季度獲得的閃電定價優勢是我們毛利率達到指導方針的關鍵之一。

Okay.

好的。

And then finally a follow-up on Boot Camp.

最後是 Boot Camp 的後續活動。

It seems pretty intuitive that there's going to be a portion of consumers that will switch to Mac as a result of the Boot Camp.

由於 Boot Camp 的結果，將會有一部分消費者轉向 Mac，這似乎很直觀。

Corporate in the entrenched Windows environment seems a little bit different.

根深蒂固的 Windows 環境中的企業似乎有點不同。

Do you think that Boot Camp is, in any way, going to give you an entree into the traditional corporate Windows environment, particularly if you're not supporting Windows?

您是否認為 Boot Camp 會以任何方式讓您進入傳統的企業 Windows 環境，尤其是在您不支持 Windows 的情況下？

And I guess the related question is do you anticipate ever supporting Windows directly?

我想相關的問題是您是否預計會直接支持 Windows？

We have no desire and no plan to sell or support Windows.

我們沒有意願也沒有計劃銷售或支持 Windows。

But we do think that Boot Camp makes the Mac even more appealing to Windows users considering making the switch.

但我們確實認為 Boot Camp 讓 Mac 對考慮進行切換的 Windows 用戶更具吸引力。

And that's the reason we put it out.

這就是我們推出它的原因。

And it is a beta, and so we have put it out to get feedback and we are just two weeks into that.

它是一個測試版，所以我們已經發布它以獲得反饋，而我們只有兩週時間。

Would you agree that that's primarily a consumer-oriented addressable market then, that you're really not targeting given no desire to support Windows directly, you're really not targeting any large corporate Windows environment?

您是否同意這主要是一個面向消費者的可尋址市場，您真的沒有針對不希望直接支持 Windows 的目標，您真的沒有針對任何大型企業 Windows 環境？

One of the great advantages of the beta is gathering the customers' feedback and that's where we are in this process.

測試版的一大優勢是收集客戶的反饋，這就是我們在這個過程中所處的位置。

Okay.

好的。

Thank you.

謝謝你。

Thanks, Richard.

謝謝，理查德。

Can we have the next question, please?

請問下一個問題可以嗎？

Kevin Hunt of Thomas Weisel Partners.

Thomas Weisel Partners 的 Kevin Hunt。

Hi.

你好。

Thanks.

謝謝。

I had a couple things.

我有幾件事。

On a technical detail, can you give us the breakout of the 37 million stock option between R&D and SG&A?

在技術細節上，您能告訴我們 R&D 和 SG&A 之間 3700 萬股票期權的突破嗎？

And also I had some questions on the margins.

我也有一些關於邊緣的問題。

This was your highest gross margin in like five years and you've been two quarters in a row over 13% operating margin, which I don't think you were in that high in multiple decades.

這是您近五年來最高的毛利率，您已經連續兩個季度超過 13% 的營業利潤率，我認為您在幾十年內都沒有達到如此高的水平。

Can you maybe update us on what the long-term model is that you think you can achieve on a gross margin and operating margin?

您能否向我們介紹一下您認為可以在毛利率和營業利潤率上實現的長期模型？

Sure.

當然。

It -- I did not have the breakout with me for the stock comp expense between R&D and SG&A.

它——我沒有和我一起討論研發和 SG&A 之間的庫存費用。

We did include that last quarter in our press release financials.

我們確實將上個季度包含在我們的新聞稿財務數據中。

So you can -- you can go and look at last quarter and get some indication of what it was then.

所以你可以 - 你可以去看看上個季度並了解當時的情況。

In terms of our margin, I have provided you very detailed guidance for the June quarter, and we're not going to provide an updated business model or future projections and pleased with the -- the guidance that we've given you this quarter, which includes double-digit operating margin.

就我們的利潤率而言，我已經為您提供了 6 月季度的非常詳細的指導，我們不會提供更新的商業模式或未來預測，並對我們在本季度為您提供的指導感到滿意，其中包括兩位數的營業利潤率。

I think you -- what I think a while ago, you did kind of give some margin which I thought was only around 10% or so.

我認為你——我剛才認為，你確實提供了一些我認為只有 10% 左右的利潤。

So is that what you're saying for the long-term sustainable is, or are you saying I think it comes out to something like 11.5 or something what you're saying for the next quarter.

那麼你所說的長期可持續發展是什麼，或者你是說我認為它會達到 11.5 或你對下一季度所說的東西。

What -- we can clearly see what we've reported, and in terms of our guidance on a GAAP basis, including the stock comp expense, we are at 10% plus, and without the stock for the guidance that we provided for the June quarter, is over 11%.

什麼——我們可以清楚地看到我們報告的內容，就我們在 GAAP 基礎上的指導（包括股票費用）而言，我們在 10% 以上，並且沒有我們為 6 月提供的指導的股票季度，超過 11%。

Okay.

好的。

One last question.

最後一個問題。

Did you have any significant discounting of the older G4 models in the quarter?

您在本季度對較舊的 G4 型號是否有任何重大折扣？

No.

不。

And that was one of the three factors that allowed us to do better on gross margin than what we had guided to.

這是使我們的毛利率比我們指導的更好的三個因素之一。

We had planned for some price reductions and many of the transitioning PowerPC models and used very little of it.

我們已經計劃了一些降價和許多過渡的 PowerPC 型號，但使用的很少。

Okay.

好的。

Thanks.

謝謝。

Thanks, Kevin.

謝謝，凱文。

Can we have the next question, please?

請問下一個問題可以嗎？

The next question comes from Bill Shope of JP Morgan.

下一個問題來自摩根大通的比爾肖普。

Great.

偉大的。

Thank you.

謝謝你。

Can you give us an outlook -- or your outlook for the component prices in the June quarter and are any components currently constrained?

您能否給我們一個展望——或者您對 6 月季度組件價格的展望，以及目前是否有任何組件受到限制？

There's no significant constraint in the market that we're experiencing.

我們正在經歷的市場沒有明顯的限制。

Factored into the guidance that Peter gave you is a favorable pricing environment for both LCD and NAN Flash where supply continues to exceed the demand.

在 Peter 給您的指導中考慮到 LCD 和 NAN Flash 的有利定價環境，其中供應繼續超過需求。

We expect optical drives and hard drives to track to historical trends.

我們預計光驅和硬盤將跟隨歷史趨勢。

And DRAM pricing we expect to trade in a relatively narrow range.

我們預計 DRAM 定價將在相對狹窄的範圍內交易。

Okay.

好的。

And one more question on a -- there's been a lot of press on the DRAM law proposals in France.

還有一個問題——法國的 DRAM 法律提案有很多媒體報導。

Can you give us a read on what you view the potential risks are to the Apple business model longer term and whether you think there is a risk that this could spread to other countries?

您能否向我們介紹一下您認為 Apple 商業模式長期存在的潛在風險以及您是否認為這可能會蔓延到其他國家？

Well, we believe that the French implementation of the EU copyright directive will result in state-sponsored piracy and if this happens, we believe legal music sales will plummet just when legitimate alternatives to piracy are winning customers over, and we don't think that the proposed French legislation would be good for anyone.

好吧，我們認為法國實施歐盟版權指令將導致國家支持的盜版，如果發生這種情況，我們認為正當盜版的合法替代品贏得客戶時，合法音樂的銷量將會暴跌，我們不認為擬議的法國立法對任何人都有好處。

Okay.

好的。

And then final question.

然後是最後一個問題。

Can you give us an update on the profitability of the Music Store.

你能給我們介紹一下音樂商店的盈利能力嗎？

The Music Store operated above break even in the March quarter.

音樂商店在 3 月季度實現了盈虧平衡。

Great.

偉大的。

Thank you.

謝謝你。

Thanks, Bill.

謝謝，比爾。

Can we have the next question, please?

請問下一個問題可以嗎？

Andy Neff of Bear Stearns.

貝爾斯登的安迪·內夫。

Thank you.

謝謝你。

It's Bill Hand for Andy.

這是安迪的比爾漢德。

Just a couple questions.

只是幾個問題。

On the iPod front, I realize you can't talk about new products.

在 iPod 方面，我意識到你不能談論新產品。

But just any thoughts on potential new directions and future drivers for iPod in the second half, other than perhaps maybe market-share gains internationally?

但是，除了可能在國際市場上獲得市場份額之外，對下半年 iPod 的潛在新方向和未來驅動因素有何想法？

Well, the question I'm really not able to answer other than to tell you that we are very excited about what we have in the product pipeline.

好吧，除了告訴您我們對產品管道中的產品感到非常興奮之外，我真的無法回答這個問題。

Not for iPod but for Mac and our whole product pipeline.

不是針對 iPod，而是針對 Mac 和我們的整個產品線。

Okay.

好的。

Just another question regarding the new Mactel product.

關於新 Mactel 產品的另一個問題。

Are there any particular issues that are holding back the launch of the rest of the Mactel line that you can talk about?

是否有任何特殊問題阻礙了 Mactel 其他產品線的推出，您可以談談嗎？

We're on target.

我們正中目標。

There's nothing holding it back.

沒有什麼能阻止它。

We are on target to complete by the end of the year as we have now.

我們的目標是像現在一樣在年底前完成。

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？

Joel Wagonfeld of First Albany.

第一奧爾巴尼的喬爾·瓦格菲爾德。

Thank you.

謝謝你。

Wanted going into a bit more detail on your expectations for gross margin next quarter you mentioned flash price advantage was a key advantage in your gross margin upside last quarter.

想要更詳細地了解您對下個季度毛利率的預期，您提到閃存價格優勢是您上個季度毛利率上升的關鍵優勢。

What's the relative benefit that you're anticipating for your gross margin guidance for next quarter and what are other key levers that might help or hurt the June quarter that could surprise one way or the other.

您對下一季度毛利率指導的預期相對收益是什麼，以及可能有助於或損害 6 月季度的其他關鍵槓桿可能會以一種或另一種方式出人意料。

Joel, I'll start and generally talk about the factors that will affect gross margin and Tim may want to add some further color.

喬爾，我將開始討論影響毛利率的因素，蒂姆可能想補充一些色彩。

I guided gross margin down about 140 basis points despite the favorable commodity environment due to several factors: First, the June quarter begins the education buying season.

儘管商品環境有利，但由於以下幾個因素，我將毛利率下調了約 140 個基點：首先，6 月季度開始了教育採購旺季。

Particularly for K to 12 which buys lower ASP and margin Macs.

特別是對於購買較低 ASP 和利潤率 Mac 的 K 到 12。

And secondly, we will see the full quarter impact of the iPod Shuffle price reduction that we took in the introduction of the one gigabyte Nano.

其次，我們將看到 iPod Shuffle 降價對整個季度的影響，這是我們在推出 1 GB Nano 時所採取的措施。

In terms of the relative benefit of your Flash advantage, is it about the same as it was last quarter?

就您的 Flash 優勢的相對優勢而言，它與上一季度大致相同嗎？

We don't want to get into specifics of that other than to say that we continue to view both LCD and NAN Flash in a very favorable environment for the current quarter.

除了說我們繼續在當前季度非常有利的環境中查看 LCD 和 NAN Flash 之外，我們不想詳細說明這一點。

Okay.

好的。

Thanks.

謝謝。

Thanks, Joel.

謝謝，喬爾。

Could we have the next question, please?

請問下一個問題好嗎？

We'll ake it from Shaw Wu of American Technology.

我們將從美國科技公司的 Shaw Wu 那裡得到它。

Thanks.

謝謝。

Just any update on use of cash?

關於現金使用的任何更新？

I mean your cash position continues to build -- well not this specific quarter but any comment there -- any comments on Greenberg Capital?

我的意思是你的現金頭寸繼續建立——不是這個特定的季度，而是那裡的任何評論——對格林伯格資本有什麼評論嗎？

Thanks.

謝謝。

Shaw, regarding our use of cash, we are continuing to be conservative with the cash despite some of the investments we made this quarter.

肖，關於我們對現金的使用，儘管我們在本季度進行了一些投資，但我們仍然對現金持保守態度。

Wanting to retain it for flexibility to invest in the business.

希望保留它以靈活地投資於業務。

We do discuss with the board from time to time share buyback, but don't have a change in philosophy to discuss with you today.

我們會不時與董事會討論股票回購，但今天與您討論的理念沒有變化。

As regards Rayburn, we are opening an office in Nevada as part of our treasury operations.

至於 Rayburn，我們將在內華達州開設辦事處，作為我們資金業務的一部分。

In addition to our offices in Cupertino and Singapore.

除了我們在庫比蒂諾和新加坡的辦事處。

That's it?

而已？

Thanks.

謝謝。

Thanks, Shaw.

謝謝，肖。

Can we have the next question, please?

請問下一個問題可以嗎？

Steve Lidberg of Pacific Crest Securities.

Pacific Crest 證券的史蒂夫·利德伯格。

Good afternoon.

下午好。

First I was hoping that you could provide kind of a sense as to the Mac units and what percentage of them were Intel-based systems and then secondly, as you look at the iPod business I guess, where are the points of presence -- or with is the number for points presence today?

首先，我希望你能提供一種關於 Mac 設備的感覺，以及它們中有多少是基於英特爾的系統，其次，當你看 iPod 業務時，我猜想，存在點在哪裡——或者今天的積分數是多少？

And how is that situated between the U.S. market and the international markets?

它在美國市場和國際市場之間的地位如何？

Thanks.

謝謝。

Hi, Steve, it's Tim.

嗨，史蒂夫，我是蒂姆。

The -- we're not releasing the exact percentage of Intel versus PowerPC for the quarter of the Mac area.

- 我們沒有公佈 Mac 面積四分之一的英特爾與 PowerPC 的確切百分比。

But I can tell you that the shipments of the Intel units did accelerate across the quarter and the majority of shipments that we made in the month of March were Intel-based.

但我可以告訴你，英特爾設備的出貨量在整個季度確實加速了，我們在 3 月份的大部分出貨量都是基於英特爾的。

In regards to the iPod points of presence, we now have over 35,000 store fronts across the world.

關於 iPod 入駐點，我們現在在全球擁有超過 35,000 個店面。

We believe that we are at or near full distribution in the U.S., and some countries in Europe.

我們相信我們在美國和歐洲的一些國家已經或接近完全分銷。

But we believe there's still opportunity in other countries in Europe, in Japan and Asia and Latin America and Canada.

但我們相信歐洲其他國家、日本和亞洲、拉丁美洲和加拿大仍有機會。

And so we're continuing to find and sign very good channel partners.

因此，我們將繼續尋找並簽署非常好的渠道合作夥伴。

Thank you.

謝謝你。

Thanks, Steve.

謝謝，史蒂夫。

Could we have the next question, please?

請問下一個問題好嗎？

We'll take the next question from Harry Blount of Lehman Brothers.

我們將回答雷曼兄弟的 Harry Blount 的下一個問題。

Thank you.

謝謝你。

A couple questions.

幾個問題。

First of all on the PC unit side of the equation, it looks like you had good growth year over year in Europe and was wondering if that may be related to additional distribution locations on the PC?

首先，在等式的 PC 單元方面，看起來您在歐洲的同比增長良好，並且想知道這是否可能與 PC 上的其他分銷地點有關？

The difference in the Europe's overall year-over-year growth versus the Company's was principally an increase in channel inventory related to MacBook Pro units being in transit at the end of the quarter that I had spoken about earlier.

歐洲整體同比增長與公司相比的差異主要是與我之前提到的季度末在途的 MacBook Pro 設備相關的渠道庫存增加。

And so the growth rate looks very similar to the rest of the world.

因此，增長率看起來與世界其他地區非常相似。

And then related to that, how many Mac locations do you currently have?

然後與此相關，您目前有多少個 Mac 位置？

We currently have around 7,000 around the world.

目前，我們在全球擁有約 7,000 個。

And then just in terms of trends between direct and indirect.

然後就直接和間接之間的趨勢而言。

Can you give some sense of how iPods and PCs have trended over the last several quarters?

您能大致了解一下過去幾個季度 iPod 和 PC 的發展趨勢嗎？

We don't break iPod and Mac direct, indirect out but our direct sales in the March quarter were 44% and in that we include direct sales to education and enterprise customers on-line, retail and our Music Store.

我們沒有直接、間接地將 iPod 和 Mac 分開，但我們在 3 月季度的直接銷售額為 44%，其中我們包括對在線教育和企業客戶、零售和我們的音樂商店的直接銷售。

Okay.

好的。

And then the last question also relates to PC distribution.

最後一個問題也與 PC 分發有關。

I understand what you guys were saying upfront in terms of the Intel stall, but if I look at the retail units, PC retail units sold even on a year-over-year basis, given that you guys have maybe three or four dozen more stores open, it would actually suggest that the PC units per store are down fairly meaningfully on a year-over-year basis.

我理解你們在英特爾攤位上所說的話，但如果我看一下零售單位，PC 零售單位的銷量甚至是同比，因為你們可能還有三四打商店開放，這實際上表明每家商店的 PC 單位同比下降相當有意義。

Is -- it's -- I guess it seems counterintuitive that the stores would be the place that people would be most likely to convert given the support that they have and the selection of inventory.

是 - 它是 - 我想這似乎違反直覺，考慮到他們擁有的支持和庫存的選擇，商店將成為人們最有可能轉換的地方。

So a little bit more thoughts on that would be helpful.

因此，對此進行更多思考會有所幫助。

Sure.

當然。

And as I commented earlier, our retail stores are really focusing on the Intel transition.

正如我之前評論的那樣，我們的零售店真正關注的是英特爾的轉型。

And we made announcements at MacWorld and shipped -- and delivered product later, particularly with the MacBook Pro.

我們在 MacWorld 上發布了公告並發貨，隨後交付了產品，尤其是 MacBook Pro。

And this impacted our stores.

這影響了我們的商店。

And again, the stores were really focused from a Mac perspective on the transition to Intel.

再一次，從 Mac 的角度來看，這些商店真正專注於向英特爾的過渡。

We very quickly changed the merchandising and the window displays and the graphics to focus on the Intel transition right after MacWorld in advance of product coming to the stores, as our first Intel-based Macs arrived in the stores, we generally stopped carrying the PowerPC based models.

我們很快就改變了銷售、窗口顯示和圖形，以在 MacWorld 之後的產品進入商店之前專注於英特爾過渡，當我們的第一台基於英特爾的 Mac 到達商店時，我們通常停止攜帶基於 PowerPC 的楷模。

And as you may have seen, as I indicated, our sales teams really didn't discourage people from waiting for Intel-based models to arrive and really let the customer purchase what they wanted to and that impacted us in the quarter.

正如您可能已經看到的那樣，正如我所指出的，我們的銷售團隊確實沒有阻止人們等待基於英特爾的型號到貨，並真正讓客戶購買他們想要的東西，這在本季度影響了我們。

We remained very, very confident in our retail stores, they are delivering strong growth to the Company and our new-to-Mac percent in the quarter actually rose to about 50%.

我們對我們的零售店仍然非常非常有信心，它們為公司帶來了強勁的增長，我們在本季度的新機率實際上上升到了 50% 左右。

One last question.

最後一個問題。

I meant to come back to the margin side real quickly.

我的意思是很快回到邊緣。

You guys had started several quarters ago the royalty licensing program and obviously that's a contribution to margins as well.

你們幾個季度前就開始了版稅許可計劃，顯然這也是對利潤的貢獻。

You didn't mention that.

你沒有提到那個。

And so I'm wondering as it relates to iPod margins overall, was that a contributing factor?

所以我想知道它與 iPod 的整體利潤率有關，這是一個促成因素嗎？

I am sorry, Harry, I can't comment on that.

對不起，哈利，我不能對此發表評論。

Those agreements have -- are confidential.

這些協議已經 - 是機密的。

Thank you.

謝謝你。

Thanks.

謝謝。

Can we have the next question, please?

請問下一個問題可以嗎？

We'll take the next question from Shannon Cross of Cross Research.

我們將從交叉研究的 Shannon Cross 提出下一個問題。

Hi, good afternoon.

你好，下午好。

Just a question on your new facility.

只是關於您的新設施的問題。

Any idea what you're going to spend on CapEx for that?

知道您將為此在資本支出上花費多少嗎？

I think you said $120 million was for the data center which I think Steve mentioned you'd put together like nine parcels or something?

我想你說 1.2 億美元用於數據中心，我認為史蒂夫提到過你會像九個包裹一樣放在一起？

And then also the 3000, 3500 employees, are those incremental to your head count do you think or is that just consolidating Cupertino?

然後還有 3000、3500 名員工，你認為這些是增加你的人數還是只是鞏固了庫比蒂諾？

Let me go back through that.

讓我回顧一下。

In the quarter we spent about 120 million to acquire a new data center to support our future growth.

本季度，我們斥資約 1.2 億美元購置了一個新的數據中心，以支持我們未來的增長。

And the first of several properties for a second campus in Cupertino.

以及庫比蒂諾第二校區的幾處房產中的第一處。

As a result of the growth that we've had, we have increased the number of leased buildings in the greater Cupertino area.

由於我們的增長，我們增加了大庫比蒂諾地區的租賃建築物數量。

And this has become really much less efficient and very inconvenient for us.

這對我們來說變得非常低效和不方便。

So we've gone out and are in the process of acquiring about 50 acres that are just about 10 minutes away from our current campus.

所以我們已經走出去，正在收購大約 50 英畝的土地，距離我們目前的校園只有大約 10 分鐘的路程。

And we expect to break ground in a few years and hopefully complete a second campus in around four years and we very much look forward to getting our teams closer together.

我們希望在幾年內破土動工，並希望在大約四年內完成第二個校園，我們非常期待讓我們的團隊更加緊密地聯繫在一起。

So the idea would really be to consolidate the teams that we have into two campuses.

所以這個想法實際上是將我們擁有的團隊整合到兩個校區。

We have about 30 buildings scattered across Cupertino that the people are in.

我們在庫比蒂諾有大約 30 座建築物，人們就在其中。

Okay.

好的。

How many employees work at the one campus right now?

現在有多少員工在一個校區工作？

We have many thousand employees here in Cupertino but aren't disclosing how many are on the campus.

我們在庫比蒂諾有數千名員工，但沒有透露校園裡有多少員工。

Okay.

好的。

And then moving on.

然後繼續前進。

Profitability of iTunes, are you still running for break even?

iTunes的盈利能力，你還在為收支平衡而奔波嗎？

What are your thought processes as you obviously have expanded the content significantly?

顯然你已經顯著擴展了內容，你的思考過程是什麼？

As I commented before, the store operated above break even in the quarter and we think selling songs and video is really helping us to sell iPods.

正如我之前評論的那樣，上述商店在本季度運營時收支平衡，我們認為銷售歌曲和視頻確實有助於我們銷售 iPod。

Okay.

好的。

And then one final question.

然後是最後一個問題。

Can you just clarify the retail profit -- yes, just the profit from your retail stores this quarter?

您能否澄清一下零售利潤——是的，只是本季度零售店的利潤？

Sure.

當然。

The segment profit was 29 million and the manufacturing margin was not included in the segment profit was 128 million.

分部利潤為2900萬元，未計入分部利潤的製造毛利為1.28億元。

Okay.

好的。

Thank you.

謝謝你。

Thanks, Shannon.

謝謝，香農。

We have time for one more question.

我們有時間再問一個問題。

Our last question will come from David Bailey.

我們的最後一個問題將來自大衛貝利。

Please go ahead, sir.

請繼續，先生。

Yes, thank you.

是的，謝謝。

Just a quick clarification.

只是一個快速的澄清。

Did you say that you increased iPod channel inventory by 550,000 units in the December quarter and can you tell us how many units you -- if any that you added in the March quarter?

您是否說過您在 12 月季度增加了 550,000 台 iPod 渠道庫存，您能否告訴我們您在 3 月季度增加了多少台（如果有的話）？

David, we did increase channel inventory in the December quarter by 550.

大衛，我們確實在 12 月季度將渠道庫存增加了 550 個。

As we entered the quarter, we were within the targeted range of four to six weeks on a look-forward basis and as we exited the quarter, we were within that range.

當我們進入本季度時，我們處於預期的四到六週的目標範圍內，而當我們退出本季度時，我們也在該範圍內。

And also the number of weeks is approximately the same in both cases.

在這兩種情況下，週數也大致相同。

Okay.

好的。

Thank you, David.

謝謝你，大衛。

And thanks, everyone, for joining us.

感謝大家加入我們。

Recording of today's call will be available for retail for seven days beginning at 5 p.m.

從下午 5 點開始，今天的電話錄音將在 7 天內零售。

Pacific time today, and the number for that replay is 719-457-0820.

今天太平洋時間，重播號碼是 719-457-0820。

Confirmation code is 4955780.

確認碼是 4955780。

A replay of the audio webcast for this call will also be available beginning at approximately 5 o'clock Pacific time today at www.apple.com/investor.

本次電話會議的音頻網絡廣播重播也將在太平洋時間今天大約 5 點開始在 www.apple.com/investor 上播放。

And members of the press with additional questions can contact Steve Dowling at 408-974-1896, and financial analysts can contact Joan Hoffer or me with additional questions, Joan's at 408-974-4570 and I'm at 408-974-5420.

有其他問題的媒體成員可以聯繫 Steve Dowling，電話是 408-974-1896，金融分析師可以聯繫 Joan Hoffer 或我有其他問題，Joan 的電話是 408-974-4570，我的電話是 408-974-5420。

Thanks again for joining us.

再次感謝您加入我們。

Ladies and gentlemen, that does conclude our presentation.

女士們，先生們，我們的演講到此結束。

We do appreciate your participation.

我們非常感謝您的參與。

At this time you may disconnect.

這時候你可以斷開連接。