Initial Estimates for Apple’s 1st Fiscal Quarter 2013

Values in millions, except for earnings per share.

  2013Q1 2012Q1
iPhone: 46.0 x $630 = $28,980 $24,417
iPad: 31.0 x $490 = $15,190 $9,153
Mac: 5.3 x $1,350 = $7,155 $6,598
iPod: 15.0 x $165 = $2,475 $2,528
Other music related: $2,500 $2,027
Peripherals and other hardware: $750 $766
Software, service and other sales: $950 $844
Net sales: $58,000 $46,333
     
Cost of sales: -$34,800 -$25,630
Gross margin: (40.0%) $23,200 $20,703
Operating expenses: -$4,100 -$3,363
Operating income: $19,100 $17,340
Other income and expenses: $350 $137
Income before provision for income taxes: $19,450 $17,477
Provision for income taxes: (25.9%) -$5,038 -$4,413
Net income: $14,412 $13,064
     
Earnings per diluted share: (950,000,000 shares) $15.17 $13.87

Published on November 25th, 2012.

Disclosure: Long various vertical AAPL call option spreads.

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