蘋果 (AAPL) 2010 Q4 法說會逐字稿

Good day, everyone.

今天是個好日子。

Welcome to this Apple Incorporated fourth quarter fiscal year 2010 earnings release.

歡迎閱讀 Apple 公司 2010 財年第四季度財報。

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 of Investor Relations.

在此進行開幕致辭和介紹時，我想將電話轉給投資者關係高級總監 Nancy Paxton。

Please go ahead, ma'am.

請繼續，女士。

Thank you, good afternoon and thanks to everyone for joining us.

謝謝大家，下午好，感謝大家加入我們。

Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements, including, without limitation those regarding revenues, gross margin, operating expenses, other income and expense, stock-based compensation expense, taxes, earnings per share, and future products.

請注意，您在我們今天的討論中聽到的一些信息將包括前瞻性陳述，包括但不限於有關收入、毛利率、運營費用、其他收入和費用、股票薪酬費用、稅收、每股收益和未來產品。

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 2009 as amended, the Forms 10-Q for the first three quarters of fiscal 2010, and the Form 8-K filed with the SEC today, along with the attached press release.

有關更多信息，請參閱 Apple 經修訂的 2009 年 10-K 表格、2010 財年前三個季度的 10-Q 表格以及今天向 SEC 提交的 8-K 表格中討論的風險因素，以及附新聞稿。

Apple assumes no obligation to update any forward-looking statements or information, which speak as of their respective date.

Apple 不承擔更新任何前瞻性陳述或信息的義務，這些陳述或信息截至其各自日期。

With that, I'd like to turn the call over to Apple's CFO, Peter Oppenheimer, for introductory remarks.

有了這個，我想把電話轉給蘋果的首席財務官彼得奧本海默，做介紹性的發言。

Thank you, Nancy.

謝謝你，南希。

Thank you for joining us.

感謝您加入我們。

We're extremely pleased to report the conclusion of a great fiscal year for Apple with outstanding results for the September quarter.

我們非常高興地報告 Apple 一個偉大的財政年度結束，並在 9 月季度取得了出色的業績。

Our innovative product line up is the best ever, and customer response has been tremendous.

我們的創新產品系列是有史以來最好的，客戶反應非常好。

As a result, we set new all-time records for Mac, iPhone, and iPad sales in the September quarter, and we are thrilled to report the highest quarterly revenue and earnings in Apple's history.

因此，我們在 9 月季度創下了 Mac、iPhone 和 iPad 銷量的新紀錄，我們很高興地報告了 Apple 歷史上最高的季度收入和收益。

Revenue for the quarter was $20.34 billion, an increase of more than $8.1 billion over the prior September quarter's results, representing growth of 67%.

本季度收入為 203.4 億美元，比上一季度的 9 月季度業績增長超過 81 億美元，增長 67%。

The very strong growth was fueled primarily by record iPhone sales, the tremendous popularity of iPad, and our best Mac quarter ever.

非常強勁的增長主要得益於創紀錄的 iPhone 銷量、iPad 的巨大普及以及我們有史以來最好的 Mac 季度。

Operating margin was $5.45 billion, representing 26.8% of revenue.

營業利潤率為 54.5 億美元，佔收入的 26.8%。

Net income was $4.31 billion, which exceeded our previous quarterly earnings record by $930 million, and represented 70% growth over the year ago quarter's earnings.

淨收入為 43.1 億美元，比我們之前的季度收益記錄高出 9.3 億美元，比去年同期的季度收益增長了 70%。

These results translated to earnings per share of $4.64.

這些結果轉化為每股收益 4.64 美元。

Turning to the details of the quarter, I'd like to begin with our Mac products and services.

談到本季度的細節，我想從我們的 Mac 產品和服務開始。

We set a new quarterly record with sales of almost 3.9 million Macs, exceeding the previous record established in the June quarter by over 400,000.

我們以近 390 萬台 Mac 的銷量創下了新的季度記錄，比 6 月份季度創下的紀錄高出 40 萬台以上。

This represents 27% year-over-year growth, more than double IDC's latest published estimate of 11% growth for the market overall in the September quarter.

這意味著同比增長 27%，是 IDC 最新公佈的 9 月季度整體市場增長 11% 估計的兩倍多。

We experienced strong double digit growth in both Mac desktop and portable categories, lead by very strong sales of iMac, which was updated in July and the continued popularity of the MacBook Pro and MacBook.

我們在 Mac 台式機和便攜式產品類別中均實現了兩位數的強勁增長，這主要得益於 iMac（7 月更新）的強勁銷售以及 MacBook Pro 和 MacBook 的持續流行。

Mac growth was strong in each of our geographic segments, lead by Asia Pacific at 56% year-over-year, and Japan at 49%.

Mac 在我們每個地理區域的增長都很強勁，其中亞太地區同比增長 56%，日本增長 49%。

We began and ended the quarter of between three and four weeks of Mac channel inventory.

我們開始和結束了三到四周的 Mac 渠道庫存季度。

Moving to our music products, we sold nearly 9.1 million iPods compared to 10.2 million in the year ago quarter.

轉向我們的音樂產品，我們售出了近 910 萬台 iPod，而去年同期為 1020 萬台。

In September, we announced a great new line up of iPods for the holiday season, including our redesigned iPod shuffle featuring clickable buttons, the re-invented iPod nano with multitouch, and the new iPod touch with retina display and FaceTime video calling.

9 月，我們發布了一系列適合假日季節的 iPod，包括我們重新設計的帶有可點擊按鈕的 iPod shuffle、重新發明的多點觸控 iPod nano，以及帶有視網膜顯示屏和 FaceTime 視頻通話的新 iPod touch。

iPod's share of the US market for MP 3 players remains over 70%, based on the latest monthly data published by NPD.

根據 NPD 發布的最新月度數據，iPod 在美國 MP 3 播放器市場的份額仍然超過 70%。

iPod also continued to be the top selling MP3 player and to gain share internationally in year-over-year in most of the countries we track, based on the latest data we publish by GFK.

根據我們 GFK 發布的最新數據，iPod 也繼續成為最暢銷的 MP3 播放器，並且在我們追踪的大多數國家/地區的國際市場份額同比增長。

We remain within our target range of four to six weeks of iPod channel inventory on a look back basis.

回顧過去，我們的 iPod 渠道庫存保持在 4 到 6 週的目標範圍內。

The iTunes store also had another strong quarter with revenue over $1 billion.

iTunes 商店也迎來了另一個強勁的季度，收入超過 10 億美元。

In September, we launched iTunes 10, including a number of new features such as $0.99 TV rentals, Airplay wireless music playback and PING, which offers social music discovery to millions of iTunes users in 23 countries.

9 月，我們推出了 iTunes 10，包括多項新功能，例如 0.99 美元的電視租賃、Airplay 無線音樂播放和 PING，為 23 個國家/地區的數百萬 iTunes 用戶提供社交音樂發現。

We also introduced the new Apple TV, which provides a simple way to watch movies and TV shows on your HDTV for the breakthrough price of just $99.

我們還推出了新的 Apple TV，它提供了一種在 HDTV 上觀看電影和電視節目的簡單方式，其突破性的價格僅為 99 美元。

I'd now like to turn to iPhone.

我現在想轉向 iPhone。

We were extremely pleased to have sold 14.1 million iPhones compared to just under 7.4 million in the previous September quarter.

我們非常高興地售出了 1410 萬部 iPhone，而去年 9 月季度的銷量略低於 740 萬部。

This represents 91% year-over-year growth, and is well ahead of IDC's latest published estimate of 64% growth for the global SmartPhone market overall in the September quarter.

這代表了 91% 的同比增長，遠高於 IDC 最新公佈的 9 月季度全球智能手機市場整體增長 64% 的估計。

Recognized revenue from iPhone handset and accessory sales was $8.82 billion during the quarter, compared with $4.61 billion in the year-ago quarter, an increase of 92%.

本季度來自 iPhone 手機和配件銷售的確認收入為 88.2 億美元，較去年同期的 46.1 億美元增長 92%。

The sales value of iPhones alone was about $8.6 billion, which yields an ASP of about $610.

僅 iPhone 的銷售額就約為 86 億美元，平均售價約為 610 美元。

At the end of the September quarter, we had iPhone distribution through 166 carriers in 89 countries.

在 9 月季度末，我們通過 89 個國家的 166 家運營商分銷 iPhone。

We continued to experience very strong year-over-year growth, particularly in Asia, Europe and Japan, where iPhone sales more than doubled year-over-year.

我們繼續經歷非常強勁的同比增長，特別是在亞洲、歐洲和日本，iPhone 銷量同比增長了一倍多。

We were very happy to be shipping iPhone 4 in China as of the last day of the September quarter, and we've been very pleased with customer response to date.

我們很高興能在 9 月季度的最後一天在中國發售 iPhone 4，迄今為止，我們對客戶的反應非常滿意。

Last month, JD Power & Associates announced for the fourth consecutive time, Apple ranked highest in its survey of customer satisfaction among manufactures of SmartPhones, citing particularly strong performance and ease of operation, operating system, features, and physical design.

上個月，JD Power & Associates 連續第四次宣布，蘋果在其智能手機製造商客戶滿意度調查中名列前茅，理由是其出色的性能和易用性、操作系統、功能和物理設計。

Adoption of iPhone within the enterprise continues to accelerate.

企業內部對 iPhone 的採用繼續加速。

In fact, since we've shipped iPhone 4, we've seen extraordinary growth from 60% to more than 80% of Fortune 500 companies deploying or piloting iPhone.

事實上，自從我們推出 iPhone 4 以來，我們已經看到部署或試用 iPhone 的財富 500 強公司從 60% 增長到 80% 以上。

Enterprise CIOs continue to add iPhone to their approved device list worldwide.

企業 CIO 繼續將 iPhone 添加到其全球批准的設備列表中。

Most recently, Fortune 500 companies like Proctor & Gamble, General Electric, Pfizer, Allstate and Cardinal Health and global 500 accounts such as Aviva Group, Total, Novartis, Roche, and Sanofi-Aventis have made iPhone available to their employees.

最近，寶潔、通用電氣、輝瑞、Allstate 和 Cardinal Health 等財富 500 強公司以及英傑華集團、道達爾、諾華、羅氏和賽諾菲安萬特等全球 500 強客戶都已向其員工提供 iPhone。

We ended the quarter with about 3.3 million iPhones in channel inventory, a sequential increase of about 825,000, to support the launch of iPhone 4.

在本季度末，我們的渠道庫存約為 330 萬部 iPhone，環比增長約 825,000 部，以支持 iPhone 4 的推出。

We continue to have a sizeable backlog and believe we could have sold even more iPhones if we had been able to supply them.

我們仍然有大量積壓，並且相信如果我們能夠供應它們，我們可以銷售更多的 iPhone。

Turning to iPad, we're thrilled with its momentum.

談到 iPad，我們對它的勢頭感到興奮。

In just the second quarter of availability, we sold almost 4.2 million iPads with distribution in 26 countries by the end of the September quarter.

在上市的第二季度，截至 9 月季度末，我們已售出近 420 萬台 iPad，並在 26 個國家/地區分銷。

We're seeing great enthusiasm for iPad from consumers, educators and businesses.

我們看到消費者、教育工作者和企業對 iPad 表現出極大的熱情。

Enterprise CIOs are adding iPad to their approved device list at an impressive rate.

企業 CIO 正在以驚人的速度將 iPad 添加到他們的批准設備列表中。

Since the launch of iPad, over 65% of the Fortune 100 are already deploying or piloting iPad.

自 iPad 推出以來，超過 65% 的財富 100 強企業已經在部署或試用 iPad。

Some recent examples of companies approving iPad include Proctor & Gamble, Lowe's, Hyatt, NBC Universal and Novartis.

最近批准 iPad 的公司包括 Proctor & Gamble、Lowe's、Hyatt、NBC Universal 和 Novartis。

Recognized revenue from sales of iPad and iPad Accessories during the quarter was $2.8 billion.

本季度確認的 iPad 和 iPad 配件銷售收入為 28 億美元。

The sales value of iPads alone was about $2.7 billion, which yields an ASP of about $645.

僅 iPad 的銷售額就約為 27 億美元，平均售價約為 645 美元。

We were able to increase the supply of iPads over the course of the quarter, building channel inventory by about 500,000 units to end the quarter with between three and four weeks of channel inventory, below our target range of four to six weeks.

我們能夠在本季度增加 iPad 的供應，將渠道庫存增加約 500,000 台，到本季度末，渠道庫存在三到四周之間，低於我們 4 到 6 週的目標範圍。

We are expanding US iPad distribution to include Wal-Mart, Target, Verizon and AT&T stores.

我們正在擴大美國 iPad 的分銷範圍，包括 Wal-Mart、Target、Verizon 和 AT&T 商店。

We are also expanding distribution internationally.

我們也在擴大國際分銷。

Combining iPhone, iPad and iPod touch.

結合 iPhone、iPad 和 iPod touch。

we surpassed cumulative iOS device sales of 125 million last month.

上個月，我們的 iOS 設備累計銷量超過了 1.25 億台。

During the September quarter, we released iOS4.1.

在 9 月季度，我們發布了 iOS4.1。

which builds on the innovations of iOS4, bringing FaceTime video calling, multitasking, folders and game center to iPod touch in addition to iPhone customers, and in November we plan to release iOS4.2, which will bring many of the great new features of iOS4 to iPad.

它建立在 iOS4 的創新之上，除了 iPhone 客戶外，還為 iPod touch 帶來了 FaceTime 視頻通話、多任務處理、文件夾和遊戲中心，我們計劃在 11 月發布 iOS4.2，這將帶來 iOS4 的許多出色新功能到 iPad。

iOS4.2 will also include AirPrint, Apple's new printing architecture that automatically finds printers on local networks and enables printing from iOS devices over Wi-Fi without the need to install drivers or download software.

iOS4.2 還將包括 AirPrint，這是 Apple 的新打印架構，可自動在本地網絡上查找打印機，並支持通過 Wi-Fi 從 iOS 設備進行打印，而無需安裝驅動程序或下載軟件。

The App store continues to be an unparalleled success.

App Store 繼續取得空前的成功。

There are now over 200,000 registered iOS developers that continue to bring outstanding and creating new Apps to the iOS platform, including over 65,000 game and entertainment titles and over 30,000 Apps designed specifically for iPad.

現在有超過 200,000 名註冊的 iOS 開發者繼續為 iOS 平台帶來出色和創造的新應用程序，包括超過 65,000 款遊戲和娛樂作品以及超過 30,000 款專為 iPad 設計的應用程序。

And we launched iAd in July, which provides marketers with the ability to place interactive ads in popular Apps for iPhone, iPod touch and iPad.

我們在 7 月推出了 iAd，它為營銷人員提供了在 iPhone、iPod touch 和 iPad 的流行應用程序中放置互動廣告的能力。

We were very happy with the results so far.

到目前為止，我們對結果感到非常滿意。

Customers are loving the media rich ads and marketers are very pleased with viewer engagement.

客戶喜歡富媒體廣告，營銷人員對觀眾的參與度非常滿意。

I'd now like to turn to the Apple retail stores, which had a record breaking quarter.

我現在想轉向蘋果零售店，那裡有一個創紀錄的季度。

Retail revenue was $3.57 billion compared to $2.04 billion in the year ago quarter, an increase of 75%.

零售收入為 35.7 億美元，比去年同期的 20.4 億美元增長 75%。

Our stores sold a record 874,000 Macs compared to 670,000 Macs in the year ago quarter, an increase of 30%.

我們的商店售出了創紀錄的 874,000 台 Mac，而去年同期為 670,000 台，增長了 30%。

About half the Macs sold in our stores during the September quarter were to customers who had never owned a Mac before.

在 9 月季度，我們商店出售的 Mac 中約有一半是面向從未擁有過 Mac 的客戶。

We opened 24 stores during the September quarter, 16 of which were outside the United States, including spectacular stores in Beijing, Shanghai, London, and Paris.

我們在 9 月季度開設了 24 家門店，其中 16 家在美國以外，包括北京、上海、倫敦和巴黎的精品店。

Our new Beijing and Shanghai stores opened on the last day of the quarter and first day sales from those stores exceeded all previous store openings.

我們在本季度的最後一天開設了新的北京和上海門店，這些門店的首日銷售額超過了之前所有門店的開張量。

Our four China stores are our highest traffic stores in the world, and are among our highest performing.

我們的四家中國門店是我們在全球客流量最高的門店，也是我們表現最好的門店之一。

We also entered our 11th country, with the opening of stores in Barcelona and Madrid.

我們還進入了我們的第 11 個國家，在巴塞羅那和馬德里開設了商店。

That brings us to a total of 317 stores worldwide as of the end of the quarter, with 84 of them outside the United States.

截至本季度末，我們在全球共有 317 家門店，其中 84 家在美國以外。

With an average of 301 stores open during the September quarter, average revenue per store was $11.8 million compared to $7.8 million in the year ago quarter, an increase of 52%.

9 月當季平均有 301 家門店開業，每家門店的平均收入為 1180 萬美元，而去年同期為 780 萬美元，增長了 52%。

Retail segment margin was $917 million compared to $564 million in the year-ago quarter.

零售部門的利潤率為 9.17 億美元，而去年同期為 5.64 億美元。

We hosted a record 74.5 million visitors in our stores during the quarter compared to 45.9 million visitors in the year ago quarter, an increase of 62%.

本季度我們的門店接待了創紀錄的 7450 萬訪客，而去年同期為 4590 萬，增長了 62%。

As we look ahead to fiscal 2011, we see great opportunity to continue our retail growth with our focus on international expansion.

展望 2011 財年，我們看到了繼續零售增長並專注於國際擴張的絕佳機會。

In total, we expect to open 40 to 50 stores in our fiscal 2011 with over 50% of them outside the United States.

總體而言，我們預計 2011 財年將開設 40 至 50 家門店，其中超過 50% 位於美國以外。

We will also begin replacing several stores in the United States to get them right sized for Apple's current product line and to meet our service goals.

我們還將開始更換美國的幾家商店，以使它們適合 Apple 當前的產品線並滿足我們的服務目標。

Total Company gross margin was 36.9%, which was 190 basis points above our guidance.

公司總毛利率為 36.9%，比我們的預期高出 190 個基點。

About two-thirds of this favorability was driven by lower commodity and other costs, and the remainder was mostly attributable to a better than planned mix of iPhone sales.

這種好感度中約有三分之二是由較低的商品和其他成本推動的，其餘的主要是由於 iPhone 銷售組合好於計劃。

Operating expenses were $2.07 billion and included$ 185 million of stock based compensation expense.

運營費用為 20.7 億美元，其中包括 1.85 億美元的股票補償費用。

OI&E was $14 million, and the tax rate for the quarter was 21%, about five points below our guidance, largely a result of two factors.

OI&E 為 1400 萬美元，本季度的稅率為 21%，比我們的指導低約 5 個百分點，主要是兩個因素的結果。

First, we had a higher mix of foreign earnings than we planned.

首先，我們的外國收入組合比我們計劃的要高。

Second, we had some discrete one-time tax benefits in the quarter as well.

其次，我們在本季度也有一些離散的一次性稅收優惠。

Our tax rate for fiscal 2010 was about 24.5%.

我們 2010 財年的稅率約為 24.5%。

Turning to cash.

轉向現金。

Our cash plus short-term and long-term marketable securities totaled $51 billion at the end of the September quarter compared to $45.8 billion at the end of the June quarter, an increase of $5.2 billion.

截至 9 月季度末，我們的現金加上短期和長期有價證券總額為 510 億美元，而 6 月季度末為 458 億美元，增加了 52 億美元。

Cash flow from operations was $5.7 billion.

運營現金流為 57 億美元。

The September quarter was the culmination of a monumental year for Apple.

9 月季度是 Apple 具有里程碑意義的一年的高潮。

In fiscal 2010, we launched several new Macs establishing record sales of over $13.6 million and achieving 31% year-over-year sales growth, significantly outpacing the growth of the overall PC market.

在 2010 財年，我們推出了幾款新 Mac，銷售額超過 1360 萬美元，銷售額同比增長 31%，大大超過了整個 PC 市場的增長。

We introduced the tremendously popular iPhone 4 with breakthrough features, including FaceTime and retina display, fueling full year sales of 40 million iPhones, an increase of 93% over fiscal 2009.

我們推出了廣受歡迎的 iPhone 4，它具有包括 FaceTime 和視網膜顯示屏在內的突破性功能，推動了 4000 萬部 iPhone 的全年銷量，比 2009 財年增長了 93%。

We launched a groundbreaking iPad, selling nearly 7.5 million to delighted customers in two quarters alone.

我們推出了一款開創性的 iPad，僅在兩個季度內就向滿意的客戶銷售了近 750 萬台。

We also brought great new features to iOS and iTunes, and continued to innovate with completely new designs for iPod and as a result, we generated record revenue of over $65 billion, an increase of over $22 billion year-over-year or 52%.

我們還為 iOS 和 iTunes 帶來了出色的新功能，並通過全新的 iPod 設計繼續創新，因此，我們創造了超過 650 億美元的創紀錄收入，同比增長超過 220 億美元或 52%。

Earnings of $14 billion grew even faster at 70% year-over-year.

140 億美元的收入增長更快，同比增長 70%。

To put this growth into perspective, in fiscal 2010, Apple generated almost five times the revenue in more than 10 times the earnings it did just five years earlier in fiscal 2005.

從這一增長的角度來看，2010 財年，蘋果公司的收入幾乎是其 5 倍，而 2005 財年的收益是五年前的 10 倍多。

As we move ahead into the December 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.

隨著我們進入 12 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。

We expect revenue to be about $23 billion compared to $15.7 billion in the December quarter last year.

我們預計收入約為 230 億美元，而去年 12 月季度為 157 億美元。

We expect gross margins to be about 36%, reflecting approximately $52 million related to stock-based compensation expense.

我們預計毛利率約為 36%，反映出與股票薪酬費用相關的約 5200 萬美元。

We expect OpEx to be about $2.325 billion, including about $250 million related to stock based compensation.

我們預計運營支出約為 23.25 億美元，其中包括與股票薪酬相關的約 2.5 億美元。

We expect OI&E to be about $65 million and we expect the tax rate to be about 25.5%.

我們預計 OI&E 約為 6500 萬美元，我們預計稅率約為 25.5%。

We are targeting EPS of about $4.80.

我們的目標是每股收益約為 4.80 美元。

In closing, we're thrilled with our record September quarter and fiscal year 2010 results.

最後，我們對創紀錄的 9 月季度和 2010 財年業績感到非常興奮。

We're very enthusiastic about our innovative product lineup and our significant opportunities for growth as we head into fiscal 2011 and we remain extremely confident in our new product pipeline.

進入 2011 財年，我們對我們的創新產品陣容和重要的增長機會充滿熱情，我們對我們的新產品線充滿信心。

Before taking your questions, I would like to turn the call over to our CEO, Steve Jobs.

在回答您的問題之前，我想將電話轉給我們的首席執行官史蒂夫·喬布斯。

Thanks, Peter.

謝謝，彼得。

Hi, everybody.

大家好你們好。

As most of you know, I don't usually participate in Apple's earnings calls, since you are all in such capable hands with Peter and Tim, but I just couldn't help dropping by for our first $20 billion quarter.

你們大多數人都知道，我通常不參加蘋果公司的財報電話會議，因為你們都掌握著彼得和蒂姆的能力，但我只是忍不住放棄了我們第一個 200 億美元的季度。

I'd like to chat about a few things and then stay for the rest of the Q&A if that's all right.

如果可以的話，我想聊幾件事，然後留下來參加剩下的問答環節。

First, let me discuss iPhone.

首先，讓我討論一下iPhone。

We sold 14.1 million iPhones in the quarter, which represents a 91% unit growth over the year-ago quarter, and was well ahead of IDC's latest published estimate of 64% growth for the global SmartPhone market in the September quarter, and it handily beat RIM's 12.1 million BlackBerries sold in their most recent quarter, ending in August.

我們在本季度售出了 1410 萬部 iPhone，比去年同期增長 91%，遠高於 IDC 最新公佈的 9 月季度全球智能手機市場增長 64% 的估計，並且輕鬆超過RIM 在截至 8 月的最近一個季度售出了 1210 萬顆黑莓。

We've now passed RIM, and I don't see them catching up with us in the foreseeable future.

我們現在已經超越了 RIM，而且我認為他們在可預見的未來不會趕上我們。

They must move beyond their area of strength and comfort into the unfamiliar territory, of trying to become a software platform company.

他們必須超越自己的優勢和舒適領域，進入陌生的領域，努力成為一家軟件平台公司。

I think it's going to be a challenge for them to create a competitive platform and to convince developers to create apps for yet a third software platform after iOS and Android.

我認為創建一個有競爭力的平台並說服開發人員為 iOS 和 Android 之後的第三個軟件平台創建應用程序對他們來說將是一個挑戰。

With 300,000 Apps on Apple's App Store, RIM has a high mountain ahead of them to climb.

在 Apple 的 App Store 上擁有 300,000 個應用程序，RIM 有一座高山等著他們攀登。

Well what about Google?

那麼谷歌呢？

Last week, Eric Schmitt reiterated they are activating 200,000 Android devices per day and have around 90,000 Apps in their App Store.

上週，Eric Schmitt 重申他們每天激活 200,000 台 Android 設備，並且在他們的 App Store 中擁有大約 90,000 個應用程序。

For comparison, Apple has activated around 275,000 iOS devices per day on average for the past 30 days, with a peak of almost 300,000 iOS devices per day on a few of those days, and Apple has 300,000 Apps on its App Store.

相比之下，蘋果在過去 30 天平均每天激活約 275,000 台 iOS 設備，其中幾天達到每天近 300,000 台 iOS 設備的峰值，蘋果在其 App Store 上擁有 300,000 個應用程序。

Unfortunately, there is no solid data on how many Android phones are shipped each quarter.

不幸的是，沒有關於每個季度出貨多少 Android 手機的可靠數據。

We hope that manufactures will soon start reporting the number of Android handsets they ship each quarter but today, that just isn't the case.

我們希望製造商很快就會開始報告他們每季度出貨的 Android 手機數量，但今天情況並非如此。

Gartner reported that around 10 million Android phones were shipped in the June quarter, and we a wait to see if iPhone or Android was the winner in this most recent quarter.

Gartner 報告稱，6 月季度的 Android 手機出貨量約為 1000 萬部，我們拭目以待 iPhone 或 Android 是最近一個季度的贏家。

Google loves to characterize Android as open and iOS and iPhone as closed.

Google 喜歡將 Android 描述為開放，而將 iOS 和 iPhone 描述為封閉。

We find this a bit disingenuous and clouding the real difference between our two approaches.

我們發現這有點虛偽，並且模糊了我們兩種方法之間的真正區別。

The first thing most of us think about when we hear the word open is Windows, which is available on a variety of devices.

當我們聽到開放這個詞時，我們大多數人首先想到的是 Windows，它可以在各種設備上使用。

Unlike Windows, however, where most PCs have the same user interface and run the same Apps, Android is very fragmented.

然而，與大多數 PC 具有相同用戶界面並運行相同應用程序的 Windows 不同，Android 非常分散。

Many Android OEMs, including the two largest, HTC and Motorola, install proprietary user interfaces to differentiate themselves from the commodity Android experience.

許多 Android OEM，包括最大的兩家，HTC 和摩托羅拉，都安裝了專有的用戶界面，以區別於商品 Android 體驗。

The users will have to figure it all out.

用戶將不得不弄清楚這一切。

Compare this with iPhone, where every handset works the same.

將此與 iPhone 進行比較，其中每部手機的工作方式都相同。

A Twitter client, Twitter Deck recently launched their App for Android.

Twitter 客戶端 Twitter Deck 最近推出了他們的 Android 應用程序。

They reported that they had to contend with more than 100 different versions of Android software on 244 different handsets.

他們報告說，他們必須在 244 部不同的手機上應對 100 多個不同版本的 Android 軟件。

The multiple hardware and software iterations presents developers with a daunting challenge.

多個硬件和軟件迭代給開發人員帶來了艱鉅的挑戰。

Many Android Apps only work on selected Android handsets running selected Android versions and this is for handsets that have been shipped less than 12 months ago.

許多 Android 應用程序僅適用於運行選定 Android 版本的選定 Android 手機，並且適用於不到 12 個月前發貨的手機。

Compare this with iPhone, where there are two versions of the software, the current and the most recent predecessor to test against.

將此與 iPhone 進行比較，其中有兩個版本的軟件，當前和最新的前身進行測試。

In addition to Google's own App marketplace, Amazon, Verizon and Vodafone have all announced they are creating their own App stores for Android, so there will be at least four App stores on Android, which customers must search among to find the App they want and developers will need to work with to distribute their Apps and get paid.

除了谷歌自己的應用市場，亞馬遜、威瑞森和沃達丰都宣布他們正在為安卓創建自己的應用商店，因此安卓上至少會有四個應用商店，客戶必須在其中搜索才能找到他們想要的應用。開發人員將需要合作來分發他們的應用程序並獲得報酬。

This is going to be a mess for both users and developers.

這對用戶和開發人員來說都是一團糟。

Contrast this with Apple's integrated App Store, which offers users the easiest to use, largest App Store in the world, pre-loaded on every iPhone.

相比之下，Apple 的集成 App Store 為用戶提供了世界上最容易使用、最大的 App Store，預裝在每部 iPhone 上。

Apple's App store has over three times as many Apps as Google's marketplace, and offers developers one stop shopping to get their Apps to market easily and to get paid swiftly.

Apple 的 App Store 的應用程序數量是 Google 市場的三倍多，並為開發人員提供一站式購物服務，讓他們的應用程序輕鬆推向市場並迅速獲得報酬。

Even if Google were right and the real issue is closed versus open, it is worthwhile to remember that open systems don't always win.

即使谷歌是對的，真正的問題是封閉與開放，但值得記住的是，開放系統並不總是贏。

Take Microsoft's Plays for Sure music strategy, which use the PC model, which Android uses as well, of separating the software components from the hardware components.

以微軟的 Plays for Sure 音樂策略為例，該策略使用 Android 也使用的 PC 模型，將軟件組件與硬件組件分離。

Even Microsoft finally abandoned this open strategy in favor of copying Apple's integrated approach, with their Zune Player, unfortunately, leaving their OEMs empty handed in the process.

甚至微軟也最終放棄了這種開放策略，轉而復制蘋果的集成方法，不幸的是，他們的 Zune Player 讓他們的 OEM 在這個過程中空手而歸。

Google flirted with this integrated approach with their Nexus One phone.

谷歌在他們的 Nexus One 手機中採用了這種集成方法。

In reality, we think the open versus closed argument is just a smoke screen to try and hide the real issue which is what's best for the customer, fragmented versus integrated.

實際上，我們認為開放與封閉的爭論只是一個煙幕，試圖隱藏對客戶最有利的真正問題，分散與整合。

We think Android is very fragmented and becoming more fragmented by the day, and as you know, Apple strives for the integrated model so that the user isn't forced to be the systems integrator.

我們認為 Android 非常碎片化，並且日益碎片化，如您所知，Apple 致力於集成模型，以便用戶不會被迫成為系統集成商。

We see tremendous value in having Apple rather than our users be the systems integrator.

我們看到讓 Apple 而不是我們的用戶成為系統集成商的巨大價值。

We think this is a huge strength of our approach compared to Google's, when selling to users who want their devices to just work, we believe integrated will trump fragmented every time.

與 Google 相比，我們認為這是我們方法的巨大優勢，當向希望他們的設備正常工作的用戶銷售時，我們相信每次都集成將勝過分散。

And we also think our developers can be more innovative if they can target a singular platform rather than 100 variants.

而且我們還認為，如果我們的開發人員可以針對單一平台而不是 100 個變體，他們可以更具創新性。

They can put their time into innovative new features rather than testing on hundreds of different handsets, so we are very committed to the integrated approach, no matter how many times Google tries to characterize it as closed, and we are confident that it will triumph over Google's fragmented approach, no matter how many times Google tries to characterize it as open.

他們可以將時間投入到創新的新功能上，而不是在數百種不同的手機上進行測試，因此我們非常致力於集成方法，無論谷歌多少次試圖將其描述為封閉，我們相信它會戰勝谷歌的碎片化方法，無論谷歌多少次試圖將其描述為開放。

Second, I'd like to comment on the avalanche of tablets poised to enter the market in the coming months.

其次，我想對即將在未來幾個月進入市場的大量平板電腦發表評論。

First, it appears to be just a handful of credible entrants, not exactly an avalanche.

首先，它似乎只是少數可信的進入者，而不是雪崩。

Second, almost all of them use seven inch screens, as compared to iPad's near 10-inch screen.

其次，它們幾乎都使用 7 英寸的屏幕，而 iPad 的屏幕接近 10 英寸。

Let's start there.

讓我們從那裡開始。

One naturally thinks that a seven inch screen would offer 70% of the benefits of a 10-inch screen.

人們自然會認為 7 英寸屏幕將提供 10 英寸屏幕的 70% 的好處。

Unfortunately, this is far from the truth.

不幸的是，這遠非事實。

The screen measurements are diagonal, so that a seven inch screen is only 45% as large as iPad's 10-inch screen.

屏幕尺寸是對角線，因此 7 英寸屏幕只有 iPad 10 英寸屏幕的 45%。

You heard me right, just 45% as large.

你沒聽錯，只有 45%。

If you take an iPad and hold it up right in portrait view and draw an imaginary horizontal line half way down the screen, the screens on the seven inch tablets are a bit smaller than the bottom half of the iPad's display.

如果你拿起 iPad 並在縱向視圖中將它舉起來並在屏幕中間畫一條假想的水平線，那麼七英寸平板電腦上的屏幕比 iPad 顯示屏的下半部分要小一些。

This size isn't sufficient to create great tablet Apps, in our opinion.

在我們看來，這個大小不足以創建出色的平板電腦應用程序。

While one could increase the resolution of the display to make up for some of the difference, it is meaningless unless your tablet also includes sandpaper, so that the user can sand down their fingers to around one quarter of their present size.

雖然可以增加顯示器的分辨率來彌補一些差異，但除非您的平板電腦還包括砂紙，否則這是沒有意義的，這樣用戶可以將手指打磨到當前尺寸的四分之一左右。

Apple has done extensive user testing on touch interfaces over many years, and we really understand this stuff.

多年來，Apple 已經對觸摸界面進行了廣泛的用戶測試，我們非常了解這些東西。

There are clear limits of how close you can physically place elements on a touch screen before users cannot reliably tap, flick, or pinch them.

在用戶無法可靠地點擊、輕彈或捏合元素之前，您可以在觸摸屏上物理放置元素的距離有明確的限制。

This is one of the key reasons we think the 10-inch screen size is the minimum size required to create great tablet Apps.

這是我們認為 10 英寸屏幕尺寸是創建出色平板電腦應用程序所需的最小尺寸的關鍵原因之一。

Third, every tablet user is also a SmartPhone user.

第三，每個平板電腦用戶也是智能手機用戶。

No tablet can compete with the mobility of a SmartPhone, its ease of fitting into your pocket or purse, its unobtrusiveness when used in a crowd.

沒有平板電腦可以與智能手機的移動性相媲美，它可以輕鬆放入您的口袋或錢包中，在人群中使用時也不顯眼。

Given that all tablet users will already have a SmartPhone in their pockets, giving up precious display area to fit a tablet in our pockets is clearly the wrong tradeoff.

鑑於所有平板電腦用戶的口袋裡都已經有了智能手機，放棄寶貴的顯示區域以將平板電腦放在我們的口袋裡顯然是錯誤的權衡。

The seven inch tablets are tweeners, too big to compete with a SmartPhone and too small to compete with an iPad.

七英寸的平板電腦太小了，無法與智能手機競爭，太小無法與 iPad 競爭。

Fourth, almost all of these new tablets use Android software, but even Google is telling the tablet manufactures not to use their current release, Froyo, for tablets, and to wait for a special tablet release next year.

第四，幾乎所有這些新平板電腦都使用 Android 軟件，但即使是谷歌也告訴平板電腦製造商不要將他們當前的版本 Froyo 用於平板電腦，並等待明年的特殊平板電腦發布。

What does it mean when your software supplier says not to use their software in your tablet?

當您的軟件供應商說不要在您的平板電腦中使用他們的軟件時，這意味著什麼？

And what does it mean when you ignore them and use it anyway?

當您忽略它們並仍然使用它時，這意味著什麼？

Fifth.

第五。

iPad now has over 35,000 Apps on the App store.

iPad 現在在 App Store 上有超過 35,000 個應用程序。

This new crop of tablets will have near zero.

這批新的平板電腦將接近於零。

And sixth and last, our potential competitors are having a tough time coming close to iPad's pricing even with their far smaller, far less each pensive screens.

第六，也是最後一個，我們的潛在競爭對手很難接近 iPad 的定價，即使它們的屏幕要小得多，也少得多。

The iPad incorporates everything we've learned about building high value products from iPhones, iPods and Macs.

iPad 整合了我們從 iPhone、iPod 和 Mac 中構建高價值產品的所有知識。

We create our own A4 chip, our own software, our own battery chemistry, our own enclosure, our own everything, and this results in an incredible product at a great price.

我們創造了我們自己的 A4 芯片、我們自己的軟件、我們自己的電池化學成分、我們自己的外殼、我們自己的一切，這以優惠的價格生產出了令人難以置信的產品。

The proof of this will be in the pricing of our competitors' products which will likely offer less for more.

我們競爭對手的產品價格可能會以更少的價格提供更多的產品，這就是證明。

These are among the reasons we think the current crop of seven inch tablets are going to be DOA, dead on arrival.

這些是我們認為目前的 7 英寸平板電腦將成為 DOA 的原因之一，一到就死。

Their manufactures will learn the painful lesson that their tablets are too small and increase the size next year, thereby abandoning both customers and developers who jumped on the seven inch bandwagon with an orphan product.

他們的製造商將吸取他們的平板電腦太小的痛苦教訓，並在明年增加尺寸，從而放棄那些以孤兒產品跳上七英寸潮流的客戶和開發人員。

Sounds like lots of fun ahead.

聽起來前面很有趣。

So thank you and let me turn it back to Peter for the Q & A session.

所以謝謝你，讓我把它轉回到彼得的問答環節。

Great.

偉大的。

We're ready to open the call to questions now, please.

我們已經準備好現在開始提問了，拜託。

(Operator Instructions).

（操作員說明）。

Your first question will come from Richard Gardner with Citigroup.

您的第一個問題將來自花旗集團的 Richard Gardner。

Okay, great.

好，太棒了。

Thank you.

謝謝你。

I had two quick ones if I could.

如果可以的話，我有兩個快速的。

One is supply constraints on iPad.

一是iPad的供應限制。

Could you talk about how severe the supply constraints are on that product and how quickly you expect them to improve, and then a follow-up for Peter on gross margin please.

您能否談談該產品的供應限制有多嚴重以及您期望它們改善的速度有多快，然後請跟進彼得的毛利率。

Hi, Rich, it's Tim.

嗨，里奇，我是蒂姆。

Relative to iPad supply/demand, we got into a balance situation in September with the limited number of distribution points in the 26 countries where we sold the iPad, and so we exited the quarter in a supply position that allows us to expand distribution prior to the holidays as we plan for some time, and hopefully you've seen some of the recent announcements of added partners in the United States.

相對於 iPad 的供需，我們在 9 月份進入了平衡狀態，在我們銷售 iPad 的 26 個國家/地區的分銷點數量有限，因此我們在本季度結束時處於供應狀態，這使我們能夠在之前擴大分銷我們計劃了一段時間的假期，希望您已經看到最近在美國增加合作夥伴的一些公告。

We're also expanding internationally, and we'll be launching additional countries as the quarter goes on.

我們也在國際擴張，隨著季度的進行，我們將推出更多的國家。

Okay, great, and then Peter, you mentioned several sequential tail winds for gross margin during the September quarter.

好的，很好，然後是彼得，您提到了 9 月季度毛利率的幾個連續順風。

Could you talk about the headwinds in the quarter and what impact they had on gross margins sequentially, please?

您能否談談本季度的不利因素以及它們對毛利率的連續影響？

I'm sorry, Rich, for the September quarter?

我很抱歉，Rich，九月季度？

For the September quarter, yes.

對於 9 月季度，是的。

Well, in our last conference call, yes, we talked about several things that we thought would cause margins to come down some, and all those things did play out, but margins came down actually about half of what we thought that they would, and we did a bit better in the quarter because commodity and other costs were better than we thought, and we sold more iPhones than we had planned to.

好吧，在我們上次的電話會議中，是的，我們談到了一些我們認為會導致利潤率下降的事情，所有這些事情都發生了，但實際上利潤率下降了大約一半，並且我們在本季度的表現要好一些，因為商品和其他成本比我們想像的要好，而且我們銷售的 iPhone 比我們計劃的要多。

All right, well thank you and Steve, good to have you on the call.

好的，謝謝你和史蒂夫，很高興你接電話。

Thanks for joining.

感謝您的加入。

Sure, thank you.

當然，謝謝。

Thanks, Rich, could we have the next question please?

謝謝，Rich，我們可以問下一個問題嗎？

From Piper Jaffrey, we'll hear from Gene Munster.

Piper Jaffrey 的話，我們會聽到 Gene Munster 的消息。

Good afternoon, and congratulations and I'll start with Steve, if you could talk a little bit about the iPad opportunity, you went through and give us some good insight in terms of the competitive landscape, but as analysts we're here trying to put some estimates out there, and we're not doing a great job of trying to figure out this trajectory in the iPad.

下午好，恭喜你，我先從 Steve把一些估計放在那裡，我們並沒有很好地試圖找出 iPad 中的這一軌跡。

Can you help us understand how you think about the business a year, two years down the road in terms of size of your overall business impact on enterprise, education, anything you can give to help us on that front and then a follow-up question.

您能否幫助我們了解您對業務的看法.

Well, the iPad is clearly going to affect notebook computers and I think the iPad proves it's not a question of if, it's a question of when and there's a lot of I think development and progress that will occur over the next few years but we're already seeing tremendous interest in iPad from education, and much to my surprise, from business.

嗯，iPad 顯然會影響筆記本電腦，我認為 iPad 證明這不是一個問題，而是一個時間問題，我認為未來幾年會有很多發展和進步，但我們我已經看到教育界對 iPad 產生了極大的興趣，令我驚訝的是，商業界也對 iPad 產生了極大的興趣。

We haven't pushed it real hard in business, and it's being grabbed out of our hands, and I talk to people every day in business in all kinds of businesses, that are using iPads all the way from Boards of Directors that are shipping iPads around instead of board books down to nurses and doctors in hospitals, and other large and small businesses, so the more time that passes, the more I am convinced that we've got a tiger by the tail here and this is a new model of computing, which we've already got tens of millions of people trained on, with the iPhone, and that lends itself to lots of different aspects of life, both personal, educational and business, so I see it as very general purpose, and I see it as really big, and the timing, one could argue about the timing endlessly, but I don't think one could argue that it's going to happen anyhow.

我們在業務中並沒有真正推動它，它正在從我們手中奪走，我每天都在與各種業務中的人們交談，從董事會一直使用 iPad，他們正在運送 iPad到處走，而不是書本到醫院的護士和醫生，以及其他大大小小的企業，所以時間越長，我越相信我們在這裡抓住了一隻老虎的尾巴，這是一種新的計算，我們已經用 iPhone 訓練了數以千萬計的人，它適用於生活的許多不同方面，包括個人、教育和商業，所以我認為它是非常通用的，我認為它真的很大，而且時機，人們可以無休止地爭論時機，但我認為人們不會爭論它無論如何都會發生。

Do you think this could be the second biggest business with iPhone?

你認為這可能是 iPhone 的第二大業務嗎？

I try to not predict.

我盡量不預測。

I try to just report, so we'll keep you posted.

我試著只報告，所以我們會及時通知你。

Okay, just a quick follow-up, Steve.

好的，只是快速跟進，史蒂夫。

As you know, we're already shipping more of them than Macs, after just a few quarters.

如您所知，僅僅幾個季度之後，我們的出貨量就已經超過了 Mac。

And on the flash side any update on your stance on Flash?

在 Flash 方面，您對 Flash 的立場有何更新？

Flash memory, we love Flash memory.

閃存，我們喜歡閃存。

Okay, Peter just one quick question.

好的，彼得只是一個簡單的問題。

Our tracks were you had about three weeks lead time in most of your countries on the iPhone throughout the quarter.

我們的追踪是，在整個季度中，您在大多數國家/地區使用 iPhone 有大約三週的交貨時間。

You mentioned you could have sold more iPhones.

你提到你本可以賣出更多的 iPhone。

How do you think about what the true demand could have been from the quarter?

您如何看待本季度的真實需求？

Gene, it's Tim.

吉恩，是蒂姆。

I think the three weeks you're referring to is the quote that's on the Apple Online store.

我認為您所指的三周是 Apple 在線商店上的報價。

What I would say, is that the demand in all countries is absolutely staggering and at this point, I can't predict when supply will meet demand.

我想說的是，所有國家的需求絕對是驚人的，在這一點上，我無法預測供應何時會滿足需求。

I feel great about our ability to move the supply and the sales up from an 8 million kind of number to over 14n but it's clear last quarter that wasn't enough, and we're obviously working on that, but it will take some time to increase further.

我對我們將供應和銷售量從 800 萬種增加到超過 14n 種的能力感到非常滿意，但很明顯上個季度這還不夠，我們顯然正在努力，但這需要一些時間進一步增加。

Were you more supply constrained in the September quarter versus the June quarter, I know totally different dynamics in the quarter, but any perspective on the two quarters?

與 6 月季度相比，9 月季度的供應是否受到更多限制，我知道本季度的動態完全不同，但對這兩個季度有何看法？

It's clear that the iPhone 4 and the announcement of iPhone 4 and the demand for it took the demand to an entirely different level, and we had anticipated a very different level but it's even higher than that.

很明顯，iPhone 4 和 iPhone 4 的發布以及對它的需求將需求帶到了一個完全不同的水平，我們曾預計到一個非常不同的水平，但它甚至更高。

Great.

偉大的。

Thank you.

謝謝你。

Thanks, Gene.

謝謝，吉恩。

Could we have the next question, please?

請問下一個問題好嗎？

From RBC Capital Markets we'll go to Michael Abramsky.

從加拿大皇家銀行資本市場，我們將前往邁克爾·阿布拉姆斯基。

Yes, thanks for taking my question.

是的，謝謝你提出我的問題。

Steve?

史蒂夫?

Appreciate your commentary.

欣賞你的評論。

You are the tablet market right now and this is I think the second time now you've come on to talk about, or certainly from one-time during your presentation to talk about competition and I'm just wondering if much like Apple encroaching on RIM's monopoly in enterprise if you think Apple is going to be able to sustain share growth for tablets, amid some of those new competitive headwinds, some of those players may try different things and strategies like tethering and Flash, multi-tasking, less constrictive App restrictions and subsidized pricing, and just wondered if you think that may create itself a more fragmented market or how you see that rolling out with regard to Apple.

你現在是平板電腦市場，我認為這是你第二次來談論，或者肯定是在你的演講中談論競爭的一次，我只是想知道是否很像蘋果公司侵占如果你認為蘋果能夠維持平板電腦市場份額的增長，那麼 RIM 在企業領域的壟斷地位，在一些新的競爭逆風中，其中一些玩家可能會嘗試不同的事物和策略，例如網絡共享和 Flash、多任務處理、限制較少的應用程序限制和補貼定價，只是想知道您是否認為這可能會為自己創造一個更加分散的市場，或者您如何看待蘋果公司的發展。

I have a hard time envisioning what those strategies you mentioned are.

我很難想像你提到的那些策略是什麼。

In terms of pricing, so far the little we've seen the tablets with far less functionality are having a hard time matching us in price.

在定價方面，到目前為止，我們所看到的功能少得多的平板電腦很難在價格上與我們相提並論。

Flash hasn't presented any problem at all.

Flash根本沒有出現任何問題。

Most of the video on the web is available in HTML 5, and having the iTunes media store and over 35,000 Apps on the App Store for iPad dwarfs anything else, and we think we have a very good product here that's going to be hard to match, and we're not done.

網絡上的大多數視頻都以 HTML 5 格式提供，iTunes 媒體商店和超過 35,000 個適用於 iPad 的 App Store 應用程序讓其他任何東西都相形見絀，我們認為我們這裡有一款非常好的產品，很難與之匹敵，我們還沒有完成。

We're working on a lot of things here for the future, so I don't know exactly what these strategies are and we've priced iPad pretty aggressively, so we're out to win this one.

我們正在為未來做很多事情，所以我不知道這些策略到底是什麼，而且我們對 iPad 的定價相當激進，所以我們要贏得這個。

Okay, thank you and just lastly, SmartPhones, do you see that as a zero sum game?

好的，謝謝你，最後，智能手機，你認為這是一場零和遊戲嗎？

Well, as you know, the largest market of phones today around the world are non-SmartPhones and so over the next several years, those non-SmartPhones, many of those non-SmartPhones are going to convert to SmartPhones and the pie is going to continue to grow, and I think there will be room for some number of companies to be successful, but eventually as most of those phones do convert to SmartPhones, it will turn into a zero sum game or at least a lot closer to that.

好吧，如您所知，當今世界上最大的手機市場是非智能手機，因此在接下來的幾年中，那些非智能手機，其中許多非智能手機將轉換為智能手機，餡餅將會繼續增長，我認為一些公司會有成功的空間，但最終隨著這些手機中的大多數確實轉換為智能手機，它將變成零和遊戲，或者至少更接近於零和遊戲。

But I think right now it's a battle for developers, and battle for the mind share of developers and battle for the mind share of customers and right now iPhone and Android are winning that battle.

但我認為現在這是一場針對開發人員的戰鬥，為開發人員的思想份額而戰，為客戶的思想份額而戰，現在 iPhone 和 Android 正在贏得這場戰鬥。

Thanks very much, Steve.

非常感謝，史蒂夫。

Thanks, Mike.

謝謝，邁克。

Could we have the next question please?

請問下一個問題好嗎？

Benjamin Reitzes with Barclays Capital.

巴克萊資本的 Benjamin Reitzes。

Yes, good afternoon.

是的，下午好。

Thanks a lot.

非常感謝。

First, for Peter, can you just talk a little bit about what gross margins, you have gross margins guidance of 36, with component prices still favorable and probably more iPhones being sold sequentially, could you talk about why margins would go down sequentially?

首先，對於 Peter，您能否談談毛利率，您的毛利率指導為 36，組件價格仍然有利，並且可能會有更多的 iPhone 連續銷售，您能否談談為什麼利潤率會連續下降？

It would seem also that you released the revenue on the bumper program and then I have a follow-up for Steve if you don't mind.

看起來你也釋放了保險槓計劃的收入，如果你不介意的話，我會對史蒂夫進行跟進。

Sure.

當然。

Well Ben in providing our guidance we thought about each of those factors you cited and we do see a small sequential decline.

Ben 在提供我們的指導時，我們考慮了您引用的每一個因素，我們確實看到了小幅連續下降。

This is being primarily driven by a expected mix of new iPods that we've just recently announced, and more iPad sales in which, as Steve said, we've been very aggressive with that with our pricing and are delivering great value to customers so it's the higher mix of those on a sequential basis that I see impacting the, the gross margin slightly.

這主要是由我們最近宣布的新 iPod 的預期組合以及更多 iPad 銷售推動的，正如史蒂夫所說，我們在定價方面非常積極，並且正在為客戶提供巨大的價值，所以我認為這是對毛利率產生輕微影響的連續基礎上的較高組合。

Okay, and then Steve?

好的，然後史蒂夫？

Can you just comment on how your hobby is going, Apple TV, and also maybe working, you took the hard drive out of there, and it seems like Apple is moving more to a streaming model for potentially a lot of other things, and I was just wondering what your thoughts were for the Apple TV, maybe that kind of business model proliferating into more products, but I was wondering how Apple TV is going and maybe what you thought going forward.

你能評論一下你的愛好，Apple TV，還有工作，你把硬盤從那裡拿出來了，看起來蘋果正在更多地轉向流媒體模式，可能還有很多其他的事情，我我只是想知道您對 Apple TV 的想法，也許這種商業模式會擴散到更多產品中，但我想知道 Apple TV 的進展情況以及您對未來的想法。

Well we don't talk about unannounced products but I'm happy to tell you what I know about Apple TV.

好吧，我們不談論未發布的產品，但我很高興告訴你我對 Apple TV 的了解。

We have gone through streaming model on Apple TV.

我們已經完成了 Apple TV 上的流媒體模式。

It's complete streaming, so all of the content is rented from the iTunes store or is streamed from your computer, or soon to be streamed from your iPhone or iPad with AirPlay and so how is our new model of Apple TV doing?

它是完整的流媒體，所以所有的內容都是從 iTunes 商店租用的，或者從您的計算機上流式傳輸，或者很快將通過 AirPlay 從您的 iPhone 或 iPad 上流式傳輸，那麼我們的新 Apple TV 模型表現如何？

Well, I can report that in just a very short amount of time, we've already sold a quarter million of them, over 250,000, and we're thrilled with that.

好吧，我可以報告說，在很短的時間內，我們已經售出了 25 萬台，超過 25 萬台，我們對此感到非常興奮。

I think that it's a great product and I think that its $99 price point is very enticing and I think when we get the AirPlay stuff in place before the end of this year it's going to give another big reason for people to buy it, so we're really happy with how its turned out.

我認為這是一款很棒的產品，而且我認為它 99 美元的價格非常誘人，而且我認為當我們在今年年底之前將 AirPlay 產品安裝到位時，它將為人們提供另一個購買它的重要理由，所以我們'對結果真的很滿意。

Great.

偉大的。

Thanks so much.

非常感謝。

Thanks, Ben.

謝謝，本。

Could we have the next question please?

請問下一個問題好嗎？

That will come from Katy Huberty with Morgan Stanley.

這將來自摩根士丹利的凱蒂休伯蒂。

Yes, thanks.

對了謝謝。

First for Peter.

首先是彼得。

How much of the sequential decline in gross margin related to the iPhone in the September quarter and in particularly the bumper program?

9 月季度的 iPhone 毛利率環比下降有多大，尤其是保險槓計劃？

Katy, we recorded a revenue deferral of just over $100 million in the September quarter for the bumper program.

凱蒂，我們在 9 月份的季度為保險槓計劃記錄了超過 1 億美元的收入遞延。

We would expect to record that in revenue in the December quarter.

我們預計將在 12 月季度的收入中記錄這一點。

We did ship a number of bumpers in the September quarter and that is reflected in our gross margin, as is the number that we expect to ship in the December quarter, that's reflected in our guidance as well.

我們確實在 9 月季度出貨了一些保險槓，這反映在我們的毛利率中，我們預計在 12 月季度出貨的數量也是如此，這也反映在我們的指導中。

And just to be clear, is the iPhone the product segment that dropped the most sequentially as it relates to the gross margins?

需要明確的是，iPhone 是與毛利率相關的環比下降幅度最大的產品嗎？

I guess people are just asking what drove the sequential downtick which we haven't seen for some time.

我想人們只是在問是什麼推動了我們一段時間未見的連續下跌。

You mean in the September quarter?

你的意思是在九月季度？

Yes, in the September quarter.

是的，在九月季度。

Well again, this was not a surprise to us and we on our last conference call highlighted that we would have a higher mix of iPhone 4 sales and we were very aggressive with feature function there, so it had a different gross margin than its predecessor product.

再說一次，這對我們來說並不意外，我們在上次電話會議上強調，我們將擁有更高的 iPhone 4 銷售組合，並且我們在功能功能方面非常激進，因此它的毛利率與其前身產品不同.

We also sold more iPads.

我們還賣出了更多的 iPad。

Again, we were very aggressive there with our pricing, and we had the bumper program and some one time items that occurred in June that we said wouldn't occur in September, so these were sort of the factors we saw bringing down gross margin, and to some extent each of them did occur in the September quarter, but we ended up doing 50% better than we thought as a result of the commodity market and selling more iPhones.

再一次，我們在定價方面非常激進，我們有保險槓計劃和一些在 6 月發生的一次性項目，我們說不會在 9 月發生，所以這些是我們看到的降低毛利率的因素，在某種程度上，它們中的每一個都確實發生在 9 月季度，但由於商品市場和銷售更多 iPhone，我們最終的表現比我們想像的要好 50%。

Got it, and then Steve, just as a follow-up, it seems like you fundamentally believe that Apple should be able to out ship Android if you add up all of the Mobile Devices over time.

明白了，然後史蒂夫，作為後續行動，您似乎從根本上相信，如果您將所有移動設備加起來，Apple 應該能夠超越 Android。

What are the key risks you're managing the Company to make sure you don't lose that lead, whether it's distribution or pricing or feature set, what do you think the biggest risks are that you need to watch carefully?

您管理公司以確保您不會失去領先優勢的主要風險是什麼，無論是分銷、定價還是功能集，您認為您需要仔細觀察的最大風險是什麼？

Well, our goal is to make the best devices in the world.

好吧，我們的目標是製造世界上最好的設備。

It's not to be the biggest.

這不是最大的。

As you know, Nokia is the biggest and we admire them for being able to ship the number of handsets that they do, but we don't aspire to be like them.

如您所知，諾基亞是最大的，我們欽佩他們能夠出貨的手機數量，但我們並不渴望像他們一樣。

They are good at being like them.

他們擅長像他們一樣。

We want to be like us and we want to make the best ones.

我們想和我們一樣，我們想做最好的。

So in our part of the market, Android is our biggest competitor.

因此，在我們的市場部分，Android 是我們最大的競爭對手。

They out shipped us in the June quarter as we were transitioning to iPhone 4.

當我們過渡到 iPhone 4 時，它們在 6 月季度發貨。

They out shipped us for the first time, and according to Gartner's numbers, which we think are pretty accurate, and so we're waiting to find out what happened in this quarter, and if they, we'll find out I don't know how we'll find out but Gartner will put out some numbers and maybe others will and so one of these days we'll eventually learn, and I imagine we'll be competing with them for quite some time, but we have very different approaches, and we believe in our approach very strongly as providing users a product that just works, and we think there's lots of users that want that in the world and their approach is very different than that, and there may be lots of users that want their approach as well, but we're going to pursue ours and we think that's the winning approach in the end.

他們第一次向我們發貨，根據 Gartner 的數據，我們認為這些數據非常準確，所以我們正在等待找出本季度發生的事情，如果他們，我們會發現我沒有知道我們將如何找到答案，但 Gartner 會提供一些數字，也許其他人會，所以有一天我們最終會知道，我想我們將與他們競爭相當長的一段時間，但我們有很大不同方法，我們非常相信我們的方法是為用戶提供一種有效的產品，我們認為世界上有很多用戶想要這樣，他們的方法與此非常不同，可能有很多用戶想要他們的方法也是如此，但我們將繼續採用我們的方法，我們認為這是最終的製勝法寶。

Thanks.

謝謝。

Thank you, Katy.

謝謝你，凱蒂。

Could we have the next question please?

請問下一個問題好嗎？

It will come from Toni Sacconaghi with Sanford Bernstein.

它將來自托尼·薩科納吉（Toni Sacconaghi）和桑福德·伯恩斯坦（Sanford Bernstein）。

Yes, thank you.

是的，謝謝。

I guess this is for both Steve and Tim.

我想這是給史蒂夫和蒂姆的。

I wanted to just better understand your aspirations for iPhone and iPad.

我只是想更好地了解您對 iPhone 和 iPad 的期望。

Tim, I think I've heard you say look, we think about the Mac business as being one where we make the best products but we're competing against kind of a strong incumbent power and Microsoft, and we don't aspire to have high market share and your iPod business it was kind of the opposite.

蒂姆，我想我聽你說過，我們認為 Mac 業務是我們製造最好產品的地方，但我們正在與強大的現有力量和微軟競爭，我們並不渴望擁有高市場份額和你的 iPod 業務正好相反。

You had very high volume, you drove price points down to entry points in the marketplace and you have more than 50% market share globally.

你的銷量非常大，你將價格點壓低到市場的入口點，你在全球擁有超過 50% 的市場份額。

I think when we've talked about it in the past, you've actually said you viewed the iPhone business as being more akin to the iPod business in terms of your aspirations.

我認為當我們過去談論它時，您實際上說過您認為 iPhone 業務在您的抱負方面更類似於 iPod 業務。

Steve, it sounded like that wasn't really consistent with what you said.

史蒂夫，這聽起來和你說的不太一致。

You said very clearly we don't want to be Nokia.

你說得很清楚，我們不想成為諾基亞。

We just want to make good phones, so perhaps you can help me better understand how we should think about your aspiration for both the iPhone and the iPad.

我們只是想做好的手機，所以也許你可以幫助我更好地理解我們應該如何看待你對 iPhone 和 iPad 的渴望。

Steve, you also made a comment about seven inch screens aren't going to cut it, and implying that you're not going to go down to those lower price points.

史蒂夫，你還評論說七英寸屏幕不會削減它，並暗示你不會降到那些較低的價格點。

Is your aspiration for iPhone and iPad to be volume players, and market leaders, or is it simply to make good products and if you have smaller share like you do in Mac, that's fine.

你的願望是讓 iPhone 和 iPad 成為大批量生產商和市場領導者，還是只是為了製造好產品，如果你像在 Mac 中那樣擁有較小的份額，那很好。

Can you help me with that please?

你能幫我嗎？

Sure, and I'll let Tim say what he's going to say too.

當然，我也會讓蒂姆說出他要說的話。

First of all, Nokia makes $50 handsets, and we don't know how to make a great SmartPhone for $50.

首先，諾基亞生產 50 美元的手機，我們不知道如何以 50 美元的價格生產一款出色的智能手機。

We aren't smart enough to figure that one out yet, but believe me, I'll let you know when we do, so our goal is to make really breakthrough great products, make the best products in every industry that we compete in, and to drive the costs down, while constantly making the products better at the same time.

我們還不夠聰明，無法解決這個問題，但相信我，當我們這樣做時，我會告訴你，所以我們的目標是製造真正具有突破性的偉大產品，製造我們競爭的每個行業中最好的產品，並降低成本，同時不斷改進產品。

That's what we did with iPod.

這就是我們對 iPod 所做的。

We updated our products many times every year with better functionality, often times at the same price and sometimes at a lower price and it was the relentless improvement at in some cases, a lower price, that was able to beat our competition, and yield the market share that it did, and as you know, we have a very low market share in the phone market in the single digits, in terms of all the handsets and we have a very high market share now in tablets, because we're the first mover, but we don't think about it that way.

我們每年都會多次更新我們的產品，提供更好的功能，經常以相同的價格，有時以更低的價格，在某些情況下，以更低的價格不斷改進，才能夠擊敗我們的競爭對手，並產生市場份額，如你所知，就所有手機而言，我們在手機市場的市場份額非常低，只有個位數，而我們現在在平板電腦上的市場份額非常高，因為我們是先發製人，但我們不這麼想。

The reason we wouldn't make a seven inch tablet isn't because we don't want to hit a price point.

我們不生產 7 英寸平板電腦的原因不是因為我們不想達到價格點。

It's because we don't think you can make a great tablet with a seven inch screen.

這是因為我們認為您無法製作出具有 7 英寸屏幕的出色平板電腦。

We think it's too small to express the software that people want to put on these things, and we think as a software-driven Company, we think about the software strategies first, and we know that software developers aren't going to deal real well with all these different size products when they have to redo their software every time a screen size changes, and they aren't going to deal well with products where they can't put enough elements on the screen to build the kind of Apps they want to build.

我們認為表達人們想要放在這些東西上的軟件太小了，我們認為作為一家軟件驅動的公司，我們首先考慮軟件策略，我們知道軟件開發人員不會真正做好對於所有這些不同尺寸的產品，當他們每次屏幕尺寸發生變化時都必須重做他們的軟件，並且他們無法很好地處理無法在屏幕上放置足夠多的元素來構建他們想要的那種應用程序的產品建造。

So when we make decisions on seven inch tablets, it's not about cost.

因此，當我們在 7 英寸平板電腦上做決定時，這與成本無關。

It's about the value of the product when you factor in the software.

當您考慮軟件時，它與產品的價值有關。

You see what I'm getting at?

你明白我在說什麼嗎？

So we're all about making the best products at aggressive prices, and that's what we will do and that's what we've done with the iPod and that's what we will do with the iPad as well.

因此，我們致力於以極具競爭力的價格生產最好的產品，這就是我們將要做的，這就是我們對 iPod 所做的，這也是我們將對 iPad 所做的。

Tim, maybe you want to comment.

蒂姆，也許你想發表評論。

If I could push you on that, Steve.

如果我能推動你，史蒂夫。

So if the market starts to move towards somewhat lower functionality SmartPhones in that migration of non-SmartPhones to SmartPhones that you talked about, if you market starts to move to dramatically lower price points and you feel you can't make an appropriate product that is good at those price points, you will cede share under those circumstances, do I understand it correctly?

因此，如果在您談到的非智能手機向智能手機的遷移中，市場開始轉向功能稍低的智能手機，如果您的市場開始轉向顯著降低的價格點，並且您覺得無法製造出合適的產品在那些價格點上，你會在這種情況下讓出份額，我理解正確嗎？

See, you're looking at it wrong.

看，你看錯了。

You're looking at it as a hardware person in a fragmented world.

您將其視為碎片化世界中的硬件人員。

You're looking at it as a hardware manufacture that doesn't really know much about software, who doesn't think about an integrated product but assumes the software will somehow take care of itself, and you're sitting around saying well, how can we make this cheaper?

您將其視為對軟件知之甚少的硬件製造商，他們不考慮集成產品，而是假設軟件會以某種方式自行處理，而您卻坐在那裡說好，如何我們可以讓這個更便宜嗎？

Well we can put a smaller screen on it and a slower processor and less memory, and you assume that the software will somehow just come alive on this product that you're dreaming of.

好吧，我們可以在它上面放一個更小的屏幕、更慢的處理器和更少的內存，並且您認為該軟件會以某種方式在您夢寐以求的產品上活躍起來。

But it won't, because these App developers have taken advantage of the products that came before with faster processors, with larger screens, with more capabilities that they can take advantage of to make better Apps for customers, and they aren't, it's a hard one because it throws you right back into the beginning of that chicken and egg problem again, to change all of the assumptions on those developers.

但它不會，因為這些應用程序開發人員已經利用了以前的產品，它們具有更快的處理器、更大的屏幕、更多的功能，他們可以利用這些產品為客戶開發更好的應用程序，而他們不是，而是很難，因為它會讓你再次回到雞和蛋問題的開始，改變對那些開發人員的所有假設。

Most of them will not follow you.

他們中的大多數人不會跟隨你。

Most of them will say, I'm sorry but I'm not going to go back and write a watered down version of my App just because you've got this phone that you can sell for $50 less, and you're begging me to write software for it.

他們中的大多數人會說，我很抱歉，但我不會僅僅因為你有這款手機可以以低於 50 美元的價格出售我的應用程序，而你在求我為它編寫軟件。

Okay, one more if I may, please, Steve.

好的，史蒂夫，如果可以的話，請再來一份。

You now have more than $50 billion in cash, you're generating more than $20 billion a year in cash, it rests very comfortable on your balance sheet earning less than 1% interest.

你現在擁有超過 500 億美元的現金，你每年產生超過 200 億美元的現金，在你的資產負債表上賺取不到 1% 的利息非常舒服。

What is your aspiration for that cash and why are you not more open to returning some of that cash to shareholders in the form of buybacks or dividends?

您對這筆現金的期望是什麼？為什麼您不更願意以回購或股息的形式將部分現金返還給股東？

Of course that's been suggested to us.

當然，這是向我們建議的。

We strongly believe that one or more very strategic opportunities may come along, that we can take, that we're in a unique position to take advantage of, because of our strong cash position, and I think we've got, we've demonstrated a really strong track record of being very disciplined with the use of our cash.

我們堅信可能會出現一個或多個非常具有戰略意義的機會，我們可以抓住這些機會，我們處於一個獨特的位置可以利用，因為我們擁有強大的現金狀況，我認為我們已經，我們已經表現出在使用我們的現金時非常自律的良好記錄。

We don't let it turn a hole in our pocket.

我們不會讓它在我們的口袋裡打開一個洞。

We don't allow it to motivate us to do stupid acquisitions, and so I think that we would like to continue to keep our powder dry, because we do feel that there are one or more strategic opportunities in the future.

我們不允許它激勵我們進行愚蠢的收購，因此我認為我們希望繼續保持粉狀，因為我們確實認為未來存在一個或多個戰略機會。

That's the biggest reason.

這是最大的原因。

And there's other reasons as well that we could go into, but that's the biggest one.

我們還可以考慮其他原因，但這是最大的原因。

Thank you.

謝謝你。

Thanks, Toni.

謝謝，托尼。

Could we have the next question please?

請問下一個問題好嗎？

From Cross Research, we'll hear from Shannon Cross.

來自 Cross Research，我們將聽到 Shannon Cross 的消息。

Thank you very much.

非常感謝。

Steve and Tim, could you talk a little bit about the corporate opportunity, and what I'm looking for is sort of how you're thinking about Apple as its been positioned over the last several years sort of more of a consumer-focused, SMB-focused Company but clearly there's a huge opportunity with the iPad and the iPhone and probably at some point the Mac into the corporate world, so how do you think about your positioning from a Marketing standpoint, a sales standpoint.

史蒂夫和蒂姆，你能談談公司的機會嗎？我正在尋找的是你對蘋果的看法，因為它在過去幾年中被定位為更多以消費者為中心，專注於 SMB 的公司，但顯然 iPad 和 iPhone 存在巨大的機會，並且可能在某些時候 Mac 進入企業界，所以你如何從營銷的角度考慮你的定位，從銷售的角度來看。

Any changes you need to make or how are you sort of addressing this?

您需要進行任何更改，或者您如何解決這個問題？

Shannon, it's Tim.

香農，是蒂姆。

On the iPad, there have been some comments about this earlier just to give you some stats here, about two-thirds of the Fortune 100 are deploying or piloting iPad, and I don't know about you but I've never seen an adoption rate like this in my life in enterprise.

在 iPad 上，早些時候有一些評論只是為了給你一些統計數據，大約三分之二的財富 100 強正在部署或試用 iPad，我不了解你，但我從未見過採用我在企業生活中的評價是這樣的。

Enterprise is historically much slower moving on adoption.

從歷史上看，企業在採用方面的速度要慢得多。

We're also seeing the iPad begin to pick up interest in K-12 which is another market that historically adopts very slowly, and so the early data points look great, and as a matter of fact we have built and are building additional capacity internally in the sales organizations to call on businesses, and obviously we have a huge amount of salespeople already that are calling on education institutions.

我們還看到 iPad 開始對 K-12 產生興趣，這是另一個歷史上採用非常緩慢的市場，因此早期數據點看起來很棒，事實上，我們已經建立並正在內部建立額外的容量在銷售組織中打電話給企業，顯然我們已經有大量的銷售人員在打電話給教育機構。

We're also enabling and training our carrier partners to do the same, and you probably saw an announcement last week with AT&T and that's a direct result of customers wanting to buy the iPad on a post-pay type plan, and so we're putting a lot of energy in those.

我們也在支持和培訓我們的運營商合作夥伴做同樣的事情，你可能在上週看到了 AT&T 的公告，這是客戶希望通過後付費類型計劃購買 iPad 的直接結果，所以我們是在這些方面投入了大量的精力。

IPhone has followed a trajectory that gets into the same kinds of numbers as I've quoted on iPad where a little bit higher by now is 85% of the Fortune 100 are deploying or piloting iPhone so this isn't a hobby or something we're doing lightly.

iPhone 遵循的軌跡與我在 iPad 上引用的數字相同，到目前為止，85% 的財富 100 強企業正在部署或試用 iPhone，所以這不是愛好或我們的什麼東西。重新做的很輕鬆。

We put enormous energy in the Company, in engineering, in software and it built a number of enterprise features in the OS.

我們在公司、工程、軟件上投入了巨大的精力，它在操作系統中構建了許多企業功能。

You've seen that get better and better as we have stepped through the different OS releases and we're building the sales capability for those groups as well.

您已經看到，隨著我們逐步完成不同的操作系統版本並且我們也在為這些群體建立銷售能力，這種情況變得越來越好。

It's clear that both the phone and the iPad have an enormous opportunity.

很明顯，手機和 iPad 都有巨大的機會。

The Mac is also increasingly getting pulled into an enterprise where the employees are able to select, and of course this is a trend that we like to see and that we think will continue in larger ways but when people are given the choice, they would prefer a Mac and so Macs are being pulled in as well.

Mac 也越來越多地被吸引到員工可以選擇的企業中，當然這是我們希望看到的趨勢，並且我們認為它將以更大的方式繼續下去，但是當人們有選擇時，他們會更喜歡Mac 等 Mac 也被引入。

We don't have as much distribution effort on that but as we see if it gets larger, we will move accordingly.

我們沒有在這方面付出太多的努力，但是當我們看到它變得更大時，我們會相應地採取行動。

The great thing is that we're maintaining our focus on the consumer and the consumer is the forefront on thinking of all of our products and it's these consumers in the enterprise so to speak that are pulling these products in and so we're not developing two different lines like many companies do and have enterprise versions and consumer versions.

最棒的是，我們一直關註消費者，消費者是我們所有產品思考的最前沿，可以說是企業中的這些消費者在拉動這些產品，所以我們沒有開發像許多公司一樣，有兩條不同的產品線，有企業版和消費者版。

This is another part of our simplistic approach to things that I think will pay us great dividend and is already starting to do so.

這是我們對事物的簡單化方法的另一部分，我認為這些方法會給我們帶來巨大的紅利，並且已經開始這樣做了。

Okay, and then, thank you.

好的，然後，謝謝。

I had a follow-up for Peter.

我對彼得進行了跟進。

I'm getting substantial questions as I'm sure everybody on this call is just about gross margins, so I guess one of the questions I have is as you're seeing the increase in volume, is there any kind of a change in terms of the scale leverage you have from a manufacturing standpoint, or I know you guided to lower gross margins but the Street of course was higher so just anything you can give us in terms of color on the gross margins with the iPhone and iPhone 4 in terms of how that's panning out and how we should think about start up costs that were associated with both that as well as the iPad.

我收到了很多問題，因為我確信這次電話會議上的每個人都只是關於毛利率，所以我想我的問題之一是當你看到數量增加時，條款是否有任何變化從製造的角度來看，您擁有的規模槓桿，或者我知道您引導降低毛利率，但街道當然更高，所以您可以給我們的任何東西就 iPhone 和 iPhone 4 的毛利率而言關於這是如何進行的，以及我們應該如何考慮與這兩者以及 iPad 相關的啟動成本。

Just any color would be great.

任何顏色都會很棒。

Thank you.

謝謝你。

Sure.

當然。

Well Shannon, we don't product product-specific gross margins but we are always working aggressively to lower our cost whether it's the iPhone or any of our other products and I think we have a very good track record in this regard and we were happy with our gross margins in the September quarter.

好吧，香農，我們不生產特定產品的毛利率，但我們一直在積極努力降低成本，無論是 iPhone 還是我們的任何其他產品，我認為我們在這方面有很好的記錄，我們很高興與我們在九月季度的毛利率。

They were ahead of what we thought and we see them being just down slightly in the December quarter as we ship more iPods where we've been quite aggressive, and continue to ship more iPads as well.

它們超出了我們的預期，我們看到它們在 12 月季度略有下降，因為我們在我們非常激進的地方出貨了更多的 iPod，並繼續出貨更多的 iPad。

Okay, thank you.

好的謝謝你。

Thank you, Shannon.

謝謝你，香農。

We have the next question please?

請問我們有下一個問題嗎？

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

我們的下一個問題將來自德意志銀行的 Chris Whitmore。

Thanks very much.

非常感謝。

I'm interested to understand demand from new carriers to pick up iPhone 4 and whether or not you're seeing pressure on subsidies as you look to extend your distribution network on the phone business.

我很想了解新運營商對購買 iPhone 4 的需求，以及當您希望擴大電話業務的分銷網絡時，您是否看到補貼壓力。

Chris, the pressure that I'm getting is on supply.

克里斯，我得到的壓力是供應方面的。

I'm getting virtually everyone we're doing business with wants more supply, so that's the pressure that I feel.

我發現幾乎所有與我們有業務往來的人都想要更多的供應，這就是我感受到的壓力。

Can you give us some color, sorry if I missed it, as I jumped on late but some color in terms of where you are from a number of carriers with iPhone 4, how did you end the quarter, do you have targets for the December quarter in terms of carrier penetration with existing relationships?

你能給我們一些顏色嗎，如果我錯過了，很抱歉，因為我跳得很晚，但是就你來自許多使用 iPhone 4 的運營商而言，你是如何結束這個季度的，你有 12 月的目標嗎？與現有關係的運營商滲透率季度？

If you count at the country level, we have about 166 relationships that we ended the quarter with, and about 89 countries, and so that's a significant expansion across the last year as we and many countries went from a single carrier relationship to more than one carrier.

如果你從國家層面算起，我們在本季度結束時與大約 89 個國家建立了約 166 個合作夥伴關係，因此這是去年的顯著擴張，因為我們和許多國家/地區從單一承運人關係發展到不止一個承運人關係載體。

The latest country that we've done that in, or that we've announced that in, is Germany and we will be launching both with Vodafone and M2 together with our existing partner T-Mobile in Germany later this month.

我們已經在或我們已經宣佈在德國這樣做的最新國家是德國，我們將在本月晚些時候與我們在德國的現有合作夥伴 T-Mobile 一起推出 Vodafone 和 M2。

In all 166 of those carriers have the phone 4 by year-end, is that the target?

到年底，所有 166 家運營商都擁有 4 款手機，這是目標嗎？

With iPhone 4, we're in 85 of those 89 countries and I believe that we will be in all 89 by the end of the year.

有了 iPhone 4，我們進入了這 89 個國家中的 85 個，我相信到今年年底我們將進入全部 89 個國家。

And what is your experience been when you're gone non-exclusive from a subsidy and margin standpoint on the phone?

從電話補貼和利潤的角度來看，當你變成非排他性的時，你的經歷是什麼？

Have you had to give anything up in the past?

你過去有放棄過什麼嗎？

We don't give specific information out on margins but I think you can look at our ASPs and see that they've generally stayed above $600, and that's despite opening up several markets from an exclusive market to a non-exclusive market.

我們沒有提供有關利潤率的具體信息，但我認為您可以查看我們的 ASP 並看到它們通常保持在 600 美元以上，儘管從獨家市場到非獨家市場開放了多個市場。

A question for Steve.

史蒂夫的問題。

Steve?

史蒂夫?

You discussed competitors not matching Apple's price points so far in the tablet space.

您討論了迄今為止在平板電腦領域與蘋果價格點不匹配的競爭對手。

Why do you think you have an advantage on the price point for iPad versus the PC manufactures?

為什麼你認為你在 iPad 的價格點上比 PC 製造商更有優勢？

Well, I think part of it is because we engineer so much of it ourselves, the A4 chip inside it is an Apple creation.

嗯，我認為部分原因是我們自己設計了很多東西，裡面的 A4 芯片是 Apple 創造的。

Everything again as I mentioned from the battery chemistry to the enclosures and we've learned a lot.

正如我提到的從電池化學到外殼的一切，我們學到了很多東西。

We've learned a lot from what we've done on iPods and iPhones and we're a very high volume consumer electronics manufacture, so I think we've learned a lot, we've developed a lot of our own components where others have to buy them on the market, with middlemen getting their cut of things and I think we're systems architects and know how to build systems in a very efficient way, so I think this is a product we've been training for the last decade.

我們從我們在 iPod 和 iPhone 上所做的事情中學到了很多東西，我們是一家非常大批量的消費電子產品製造商，所以我認為我們學到了很多東西，我們開發了很多我們自己的組件，而其他人必須在市場上購買它們，中間商分得一杯羹，我認為我們是系統架構師，知道如何以非常有效的方式構建系統，所以我認為這是我們最後一次培訓的產品十年。

Thank you.

謝謝你。

Thank you, Chris and thanks to everyone for joining us today.

謝謝你，克里斯，也感謝大家今天加入我們。

A replay of today's call will be available for two weeks as a podcast on the iTunes store, a Webcast on Apple.com/Investor and via telephones and the numbers are 888-203-1112 or 719-457-0820 and the confirmation code is 1034928.

今天電話會議的重播將在兩週內通過 iTunes 商店的播客、Apple.com/Investor 上的網絡廣播和電話播放，電話號碼為 888-203-1112 或 719-457-0820，確認碼為1034928。

These replays will be available beginning at approximately 5 PM Pacific Time today.

這些重播將從今天太平洋時間下午 5 點左右開始提供。

Members of the press with additional questions can contact Steve Dowling at 408-974-1896 and financial analysts can contact Joan Hoover or me with additional questions, Joan is at 408-974-4570 and I'm at 408-974-5420 and thanks again for joining us.

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 Hoover 或我有其他問題，Joan 的電話是 408-974-4570，我的電話是 408-974-5420，謝謝再次加入我們。

Ladies and gentlemen, that does conclude today's presentation.

女士們，先生們，今天的演講到此結束。

We do thank everyone for your participation .

我們非常感謝大家的參與。