Estimates for Apple’s 1st Fiscal Quarter 2014

Values in millions, except for earnings per share.

  2014Q1 2013Q1
iPhone: 50.0 x $610 = $30,500 $30,660
iPad: 27.0 x $450 = $12,150 $10,674
Mac: 4.2 x $1,350 = $5,670 $5,519
iPod: 12.0 x $160 = $1,920 $2,143
iTunes/Software/Services: $4,600 $3,687
Accessories: $1,700 $1,829
Net sales: $56,540 $54,512
     
Cost of sales: -$35,620 -$33,452
Gross margin: (37.0%) $20,920 $21,060
Operating expenses: -$4,475 -$3,850
Operating income: $16,445 $17,210
Other income and expenses: $250 $462
Income before provision for income taxes: $16,695 $17,672
Provision for income taxes: (26.4%) -$4,407 -$4,594
Net income: $12,287 $13,078
     
Earnings per diluted share: (900,000,000 shares) $13,65 $13,81

Published on December 29th, 2013.

Disclosure: Long AAPL call options.

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