Initial Estimates for Apple’s 2nd Fiscal Quarter 2013

Values in millions, except for earnings per share.

  2013Q2 2012Q2
iPhone: 44.0 x $620 = $27,280 $22,276
iPad: 17.0 x $450 = $7,650 $6,264
Mac: 4.0 x $1,300 = $5,200 $5,073
iPod: 4.7 x $160 = $752 $1,207
iTunes/Software/Services: $4,000 $3,171
Accessories: $1,500 $1,195
Net sales: $46,382 $39,186
     
Cost of sales: -$28,293 -$20,622
Gross margin: (39.0%) $18,089 $18,564
Operating expenses: -$3,800 -$3,180
Operating income: $14,289 $15,384
Other income and expenses: $350 $148
Income before provision for income taxes: $14,639 $15,532
Provision for income taxes: (26.0%) -$3,806 -$3,910
Net income: $10,833 $11,622
     
Earnings per diluted share: (948,000,000 shares) $11.43 $12.30

Published on March 24th, 2013.

Disclosure: Long AAPL call options.

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