- Apple reported record revenue of $28.6 billion for Q3 2011, an 82% increase from the previous year, driven by strong sales of iPhones and iPads.
- iPhone sales reached a record 20.3 million units, more than double the growth rate of the smartphone market. iPad sales also reached a record of 9.2 million units, with 183% growth over the previous year.
- Mac sales reached 3.95 million units, a 14% increase over the previous year and more than 4 times the estimated growth rate of the PC market.
- Apple provided guidance for Q4 2011, expecting revenue of $25 billion and EPS of around $5.50.
2012 3 9 mindshare digital pov - apple i pad announcementMindshare
Apple has announced the introduction of a new version of its Apple TV and iPad range. With approximately 70 million iPads forecast to be shipped in 2012 (71% up on 2011), there remains an insatiable appetite for Apple products around the world. Whilst neither announcement is especially ground-breaking, the success of the iPhone 4S, which was greeted with hoots of derision by tech-blogs, shows that the general public doesn’t seem to care. There are multiple additional features and upgrades with no major price hike so these latest announcements are unlikely to see this demand change significant and if anything could well increase it.
2012 3 9 mindshare digital pov - apple i pad announcementMindshare
Apple has announced the introduction of a new version of its Apple TV and iPad range. With approximately 70 million iPads forecast to be shipped in 2012 (71% up on 2011), there remains an insatiable appetite for Apple products around the world. Whilst neither announcement is especially ground-breaking, the success of the iPhone 4S, which was greeted with hoots of derision by tech-blogs, shows that the general public doesn’t seem to care. There are multiple additional features and upgrades with no major price hike so these latest announcements are unlikely to see this demand change significant and if anything could well increase it.
This document brings together a set
of latest data points and publicly
available information relevant for
Technology Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
This report is an analytical report written for the completion of the Marketing Analytics course offered as a part of the SMU Master of IT in Business Analytics Degree Program. The datasets analysed were collected by Canalys.
Apple Inc. is a multi-billion dollar enterprise that creates profit for itself through customer focused, high quality consumer electronics products and services. More than a decade ago Apple was facing the risk of bankruptcy prior to the creation of the revolutionary products such as the iPhone (Baltzan, 2013). Now with the success of the iPod, iPhone and iPad, profits have soared and Apple has gained market share in the digital music and mobile phone sectors.
Euler Hermes analyzes “consumer electronics” a rapidly changing, dynamic industry, highly competitive and influenced by technological developments. While total factory level sales of consumer electronics products are expected to increase 2% to $211 billion in 2014 and another 1.2% in 2015, intense competition and pricing transparency still threaten margins.
iPhone 6, and 6 Plus represent tremendous opportunities for developing iOS 8 apps. iOS 8 is the biggest release for developers since the introduction of the App Store. Apple's radical new design direction in iOS 8 requires app makers everywhere to rethink their approach to iOS design.
At Appostrophic, we have expert iOS 8 app developers that will help you explore the possibilities in iPhone 6, and 6 Plus application development. In this whitepaper, explore the most important and exciting updates for the iPhone 6, 6 Plus, and iOS 8.
Running head: APPLE INC.
Apple INC
APPLE INC BUSINESS STRATEGY
Bashaer Abubakr
Dr.Carter
12/02/2019
Contents
Executive Summary 4
Introduction 5
Product Focus 5
IPad 5
Mac 5
IOS 5
Watch OS 6
TV Operating system 6
Digital services and content 6
The ICloud 6
Apple Care 6
Apple pay 7
Geographical Market Focus 7
Target customers 8
Value proposition 8
Sources of capabilities 8
Lists of capabilities 8
High research and development 8
High-end intellectual property 9
Great distribution channels 9
Business Model 9
Nature of the transactions 9
Primary source and nature of revenue 9
Operation 10
Profit driver and formula 10
Resources and capabilities 11
Resources 11
List of resources 11
Resources Table 11
High trained personnel 11
High financial base 12
Intellectual property 12
Technological infrastructure 12
Capabilities 12
List of capabilities 12
Capability table 13
Good distribution channels 13
Good supply networks 13
Effective training 13
Effective research and development 14
Performance 14
Gross Margin 14
Operating margin 14
Return on Assets 14
External Analysis 15
Industry definition 15
PEST Analysis 15
Competitive forces 15
The threat of new entry 15
Threat of substitutes 15
Buyers bargaining power 15
Suppliers’ bargaining power 15
Producers’ rivalry 16
Value Creation 16
Key success factors 16
Technological advancement 16
Quality distribution channels 16
Intellectual properties 16
Legal proceedings 16
Diagnosis and formulation 16
Strategic alignment 16
Linkage 17
Implications of misalignment 17
Alternative way of addressing high cost of goods 17
Recommendation 17
Conclusion 17
APPENDICES 18
Executive Summary
Apple Company is a reputable business with good outlined policies. Over the three years, it has performed above the industry average. It has performed accordingly to the set goals, and objectives set dated back as long as its incorporation in 1977. The market keeps changing, and with time, the costs of goods have been on the rise. The cost of sales is a critical aspect of achieving the goals and objectives. Controlling these costs will result in increased profitability. A good option would be having hedged agreement with the different suppliers. Introduction
Apple company manufacture, designs as well as markets communication devices. The communication devices include; software, applications, accessories, digital content, and personal computers, established in 1977 in Cupertino, California. It sells various products worldwide through different available markets. It's one of the biggest companies in the communication industry, offering different products. The fiscal year of the company ends on the last Saturday of September. The following are some of the products the company sellsProduct Focus
IPhone is a smartphone product operating on its IOS system. The iPhones include; Touch ID, Siri, which is an intelligent based assistant, Apple Pay, among other standard smartphones. In the year 2018, it introduced new types ...
This document brings together a set
of latest data points and publicly
available information relevant for
Technology Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
This report is an analytical report written for the completion of the Marketing Analytics course offered as a part of the SMU Master of IT in Business Analytics Degree Program. The datasets analysed were collected by Canalys.
Apple Inc. is a multi-billion dollar enterprise that creates profit for itself through customer focused, high quality consumer electronics products and services. More than a decade ago Apple was facing the risk of bankruptcy prior to the creation of the revolutionary products such as the iPhone (Baltzan, 2013). Now with the success of the iPod, iPhone and iPad, profits have soared and Apple has gained market share in the digital music and mobile phone sectors.
Euler Hermes analyzes “consumer electronics” a rapidly changing, dynamic industry, highly competitive and influenced by technological developments. While total factory level sales of consumer electronics products are expected to increase 2% to $211 billion in 2014 and another 1.2% in 2015, intense competition and pricing transparency still threaten margins.
iPhone 6, and 6 Plus represent tremendous opportunities for developing iOS 8 apps. iOS 8 is the biggest release for developers since the introduction of the App Store. Apple's radical new design direction in iOS 8 requires app makers everywhere to rethink their approach to iOS design.
At Appostrophic, we have expert iOS 8 app developers that will help you explore the possibilities in iPhone 6, and 6 Plus application development. In this whitepaper, explore the most important and exciting updates for the iPhone 6, 6 Plus, and iOS 8.
Running head: APPLE INC.
Apple INC
APPLE INC BUSINESS STRATEGY
Bashaer Abubakr
Dr.Carter
12/02/2019
Contents
Executive Summary 4
Introduction 5
Product Focus 5
IPad 5
Mac 5
IOS 5
Watch OS 6
TV Operating system 6
Digital services and content 6
The ICloud 6
Apple Care 6
Apple pay 7
Geographical Market Focus 7
Target customers 8
Value proposition 8
Sources of capabilities 8
Lists of capabilities 8
High research and development 8
High-end intellectual property 9
Great distribution channels 9
Business Model 9
Nature of the transactions 9
Primary source and nature of revenue 9
Operation 10
Profit driver and formula 10
Resources and capabilities 11
Resources 11
List of resources 11
Resources Table 11
High trained personnel 11
High financial base 12
Intellectual property 12
Technological infrastructure 12
Capabilities 12
List of capabilities 12
Capability table 13
Good distribution channels 13
Good supply networks 13
Effective training 13
Effective research and development 14
Performance 14
Gross Margin 14
Operating margin 14
Return on Assets 14
External Analysis 15
Industry definition 15
PEST Analysis 15
Competitive forces 15
The threat of new entry 15
Threat of substitutes 15
Buyers bargaining power 15
Suppliers’ bargaining power 15
Producers’ rivalry 16
Value Creation 16
Key success factors 16
Technological advancement 16
Quality distribution channels 16
Intellectual properties 16
Legal proceedings 16
Diagnosis and formulation 16
Strategic alignment 16
Linkage 17
Implications of misalignment 17
Alternative way of addressing high cost of goods 17
Recommendation 17
Conclusion 17
APPENDICES 18
Executive Summary
Apple Company is a reputable business with good outlined policies. Over the three years, it has performed above the industry average. It has performed accordingly to the set goals, and objectives set dated back as long as its incorporation in 1977. The market keeps changing, and with time, the costs of goods have been on the rise. The cost of sales is a critical aspect of achieving the goals and objectives. Controlling these costs will result in increased profitability. A good option would be having hedged agreement with the different suppliers. Introduction
Apple company manufacture, designs as well as markets communication devices. The communication devices include; software, applications, accessories, digital content, and personal computers, established in 1977 in Cupertino, California. It sells various products worldwide through different available markets. It's one of the biggest companies in the communication industry, offering different products. The fiscal year of the company ends on the last Saturday of September. The following are some of the products the company sellsProduct Focus
IPhone is a smartphone product operating on its IOS system. The iPhones include; Touch ID, Siri, which is an intelligent based assistant, Apple Pay, among other standard smartphones. In the year 2018, it introduced new types ...
Running head TEAM PAPER TEAM PAPER-A competitive analysis.docxagnesdcarey33086
Running head: TEAM PAPER
TEAM PAPER
-A competitive analysis of the organization and offering using Porter's five competitive forces model, and
-The criteria you will use to segment your market and select your target market including geographic, demographic, psychographic, and behavioral factors.
-A written positioning statement that identifies:
· Your target market
· The needs that drive purchase
· Your organization's industry category
· How your organization solves the target's needs
· Your organization's competition
· What makes your organization different from its competition
Abstract
Reason: the motivation behind this paper is to recognize a marked item or administration to be analyzed through the session; inspecting components of shopper conduct as they identify with business sector division, focusing on, and situating for it. This paper, and consequent papers, will prompt a SWOT showcasing investigation of the picked marked item.
Technique/approach: the marked item for this paper will be Apple's iphone. Information to be secured in this first paper will incorporate the accompanying:
Item/Brand Analyzed
Corporate Background
Market/Industry Analysis and Competition
Market Segmentation and Target Marketing
Pertinent External Factors
Module 1 SWOT Analysis
Discoveries: Apple is a pioneer in deals and creation in US Markets; with items that claim crosswise over target markets. iphone 4s deals have overshadowed inner Apple brands, and additionally other cell phone organizations in the U.s. market. Late deals strength, on the other hand, has not settled an industry lead. Samsung, in association with Google's Android Operating framework, possesses the worldwide commercial center with something like 21% of aggregate piece of the pie. Fruit faces both innovative and political difficulties in the biggest cell phone market, China, as it is not able to build an organization with the biggest transporters there because of non-4g/LTE items. SWOT Analysis area gives particular insights in regards to marked item qualities, shortcomings, open doors and dangers.
Conclusion: while Apple rules incomparable in US advertises regarding deals, and is in reality a worldwide power, it has not settled itself generally as the business pioneer. It must expand on brand/item qualities through arrival of more up to date 4g innovation; decrease risk to market dangers and gain by business sector open doors (both in the U.s and internationally) so as to overwhelm contenders, and beat the extending hole made by Google and Samsung's developing Android client base.
Paper sort: Module 1 SLP
Presentation
Throughout the Session Long Project, I will be breaking down the iphone 4s, a marked item from Apple, Inc.; inspecting components of shopper conduct as they identify with business sector division, focusing on, and situating.
This paper, and resulting papers, will prompt a complete SWOT promoting investigation of the iphone 4s.
Segment 1: Branded.
This presentation talks about Innovation, how innovation changed the Apple Inc. & put it ahead of the competition. This also talks about leadership qualities of Sir Steve Jobs. Just great to watch. Initial introduction of Newton gives an idea how a simple fruit such as Apple has given two genius to mankind first is Sir Issac Newton & another Sir Steve Jobs. No matter, how much we talk about them & share information about them it will be always less.
Steve being one of the greatest leader IT world has ever seen.
Financial Data and AnalysisApple’s fiscal third quarter ended o.docxvoversbyobersby
Financial Data and Analysis:
Apple’s fiscal third quarter ended on June 27, 2015. The company boasted third quarter revenue of $49.6 billion, with a net profit of $10.7 billion, or $1.85 per diluted share. Revenue is up by 33% from last year’s third quarter results. Apple reports its revenue by operating segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. Greater China had the biggest year over year change with a 112% increase in Revenue. The Rest of Asia Pacific came in second with a 26% increase in the year over year revenue, with Europe, Americas, and Japan reporting 19%, 15%, and 9% respectively. International sales represents 64% of the company’s third quarter earnings. The company reports fifteen billion in operating cash flow and returned over thirteen billion to shareholders. The Apple board of directors declared a $0.52 cash dividend on the company’s common stock that was payable to stockholders on August 13, 2015. (Apple Inc.)
The increase is largely due to the popularity of the iphone 6S and Mac products . The iphone product sales are up 59% from this time last year and the Mac up 9%. The Greater China market helped Apple create record sales of the iphone 6S, which was first released on September 25, 2015 and will continue through October 2015. Thirteen million units were sold in the first week of release this year, as compared to the record of ten million last year. Analysts report three to four million units were sold in China alone. This momentum is due to China not subjecting Apple to governmental policy restrictions by having regulators delay the release as it did last year over security concerns. Additionally Apple allowed sixteen days for the presale, six more days than last year’s presale. (Thielman) Services also showed revenue growth of 9% in the year over year, which include revenues from iTunes, Apple Care, and other licensing services. Other products including Apple TV, iPod, Apple Watch, and Beats Electronics was up 49% from last year. (Apple Inc.)
The Apple Watch was first introduced in March of 2015. Apple CEO Tim Cook and CFO Luca Maestri will not give specific unit sales and revenue data attributed by the Apple Watch alone as this product is reported in the Other Products category. The company does not want to divulge financial results of this product to its competitors. This strategy prevents the collection of competitive intelligence and limits imitation products from entering the market too quickly by the competition. However, the Other Products reported staggering growth of 49% in the year over year, which both leaders attribute to the successful launch of the Apple Watch. (Dillet)
August 1, 2014 Apple purchased Beats by Dr. Dre for $3 billion. Apple recognized the value of Beats steaming music business and it wanted the endorsement from Dr. Dre. Beats co-founder Jimmy Iovine and Dr. Dre are now employees of Apple. Eddy Cue, Apple’s senior vice president has report ...
Analysis of Apple iPhone's Indian market entryAbraham Cherian
A paper examining possible strategies for Apple iPhone's market entry into India. Though written in April 2017, most factors considered here are still relevant and Apple appears to be following the path described. This paper was written by Abraham Cherian, NItesh Gupta, Fannie K Weaver, and Elisa Wilkins.
1 2Social, Ethical, and Legal ImplicationsExecutive .docxoswald1horne84988
1
2
Social, Ethical, and Legal ImplicationsExecutive Summary
JT’s IPhone Company is one of many subsidiaries of Apple Inc. that specializes in selling IPhones. The Company’s headquarters are located in Cupertino, California, and our location is in San Diego, California. The model IPhones that we sell are IPhone 6 thru IPhone X (complete with accessories). Overall our headquarters (Apple, Inc.) designs, manufactures and markets mobile communication and media devices and personal computers, and sells a variety of related software, services, and accessories, networking solutions and third-party digital content and applications. The Company’s products and services include iPhone®, iPad®, Mac®, Apple Watch®, Apple TV®, a portfolio of consumer and professional software applications, iOS, macOS®, watchOS® and tvOS™ operating systems, iCloud®, Apple Pay® and a variety of accessory, service and support offerings. (“Apple Inc. Common Stock (AAPL) Quote & Summary Data, 2018”). As of September 2017, Apple Inc. posted quarterly revenue of $52.6 billion, an increase of 12 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.07, up 24 percent. International sales accounted for 62 percent of the quarter’s revenue. The Company sells its products worldwide through its retail stores, online stores and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers. (Apple, Inc., 2017). Due to this fact JT’s IPhone Company will continue to sell the IPhones to new and existing customers.
Strategic Objectives
JT’s IPhone Company strategic objectives are to continue to support and sell Apple, Inc. Innovative products by keeping our customers informed about ground breaking products (especially the IPhone). Additionally, continue marketing our IPhones so that we can sustain and expand our brand name; sustain premium pricing and increase profit margin (as a result of excellent customer service and long lasting relationship with our new and existing customers); support Apple, Inc. in their quest to dominate the market both domestically and internationally. Finally, build hype and anticipation for Apple, Inc. launching of new products (especially the IPhone).
Products or Services
The iPhone is the Company’s line of smartphones based on its iOS operating system. The iPhone includes Siri ®, a voice-activated intelligent assistant, and Apple Pay and Touch ID ® on qualifying devices. In September 2017, the Company introduced iPhone 8 and 8 Plus, featuring a new glass and aluminum design, enhanced cameras and speakers, wireless charging and augmented reality optimization. The iPhone works with the iTunes Store, App Store, iBooks Store and Apple Music for purchasing, organizing and playing digital content and apps. (Apple Inc. 2017). In support of Apple, Inc. JT’s IPhone Company sells IPhone 6 thru IPhone X with more of the same features. (Apple Inc. 2017).
Reference
Apple.
Digital publishing company YUDU Media has followed up its previous iPad trends and statistics report with a new whitepaper, which examines relevant new information that has emerged since the first iPad report. The whitepaper dissects the vast quantity of iPad research, and compiles it in sections examining trends in apps, publishing, eCommerce and advertising, amongst others. In addition, ‘Apple iPad: Trends and Statistics 2’provides new information on trends and statistics identified in the first iPad report.
During this week's Invast Insights we cover:
► Market cap of Apple
► Where Apple is leveraged
► Apple and 2015
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Apple Management Discusses Q3 2011 Results - Earnings Call Transcript
1. Apple (AAPL) Q3 2011 Earnings Call July 19, 2011 5:00 PM ET
Operator
Good day, everyone, and welcome to this Apple Inc. Third Quarter Fiscal Year 2011
Earnings Release Conference Call. [Operator Instructions] At this time, for opening remarks
and introductions, I would now like to turn the call over to Ms. Nancy Paxton, Senior
Director of Investor Relations. Please go ahead, ma'am.
Nancy Paxton
Thank you. Good afternoon, and thanks to everyone for joining us. Speaking today is
Apple's CFO, Peter Oppenheimer; and he'll be joined by Apple COO, Tim Cook; and
Treasurer, Gary Wipfler for the Q&A session with the analysts. Please note that some of the
information you'll hear during our discussion today will consist forward-looking statements,
including, without limitation, those regarding revenue, gross margin, operating expenses,
other income and expense, stock-based compensation expense, taxes, earnings per share
and future products. Actual results or trends could differ materially from our forecast. For
more information, please refer to the risk factors discussed in Apple's Form 10-K for 2010,
the Form 10-Q for the first 2 quarters of fiscal 2011, and the Form 8-K filed with the SEC
today, along with the attached press release. Apple assumes no obligation to update any
forward-looking statements or information, which speak as of their respective date. With
that, I would like to turn the call over to Peter Oppenheimer for introductory remarks.
Peter Oppenheimer
Thank you, Nancy. Thank you for joining us. We're thrilled to report the highest quarterly
revenue and earnings in Apple history. We also set a new all-time quarterly record for
iPhone and iPad sales and a new June quarter record for Mac sales and we're extremely
pleased with the momentum of our business. Revenue for the quarter was $28.6 billion,
representing year-over-year growth of 82%. This record quarterly revenue topped the
previous record established in the most recent December quarter by $1.8 billion and was
almost $13 billion over the year ago quarter's result. The tremendous year-over-year
increase was fueled primarily by dramatic growth in iPhone and iPad sales in addition to
strong growth in Mac sales. Operating margin was a record high of $9.4 billion, representing
32.8% of revenue. Net income was $7.3 billion, topping the previous quarterly record set in
the December quarter by $1.3 billion.
Net income grew even faster than revenue, increasing 125% year-over-year and translated
to earnings per share of $7.79. Turning to the details of the quarter. I'd like to begin with
our Mac products and services. We established the new June quarter record with sales of
3.95 million Macs representing a 14% increase over the year ago quarter's result. This
growth is more than 4x IDCs most recently published forecast of 3% growth for the PC
market overall. Mac sales were particularly strong in our Asia-Pacific segment, where we
experienced a 57% year-over-year increase in total Macs sold. We generated healthy Mac
growth in both desktop and portable categories. In May, we updated the iMac with the
next-generation quad core processors, powerful new graphics, high speed portable I/O
technology and a new space time, HD camera. The growth in Mac portable sales was driven
by strong sales of MacBook Pro, as well as MacBook Air. We began to enter the quarter with
between 3 and 4 weeks of Mac channel inventory.
We are very excited to be launching Mac OS X Lion tomorrow. The Lion includes more than
250 new features such as a multi-touch gestures, system wide support for full screen apps,
2. Mission Control, which is an innovative view of everything running on your Mac and much
more.
Moving to our music products. We sold 7.5 million iPods compared to 9.4 million in the year
ago quarter. Total iPod sales were ahead of our expectations and iPod touch continues to
account for over half of all iPods sold. iPod share of the U.S. market for MP3 players remains
at over 70% based on the latest monthly data published by MPD. And iPod continued to be
the top-selling MP3 player in most countries we track based on the latest data published
by GFK. We ended the quarter within our target range of 4 to 6 weeks of iPod channel
inventory.
The iTunes store generated strong results with revenue of almost $1.4 billion. iTunes
revenue was up 36% year-over-year, thanks primarily to continued strong sales of music,
video and apps. With more than 225 million accounts, iTunes is the #1 music retailer in the
world and customers have downloaded more than 15 billion songs today.
I'd now like to turn to the iPhone. We were thrilled to sell a record 20.3 million iPhones
compared to 8.4 million in the previous June quarter. This represents 142% year-over-year
growth, which is more than double IDC's latest published estimate of 67% growth for the
global smartphone market overall in the June quarter. Recognized revenue from iPhone
handset and accessory sales were $13.3 billion during the quarter compared to $5.3 billion
in the year ago quarter, an increase of 150%. We continue to experience very strong year-
over-year iPhone sales growth in all of our operating segments. iPhone sales momentum in
the Asia-Pacific region was particularly robust with sales almost quadrupling year-over-year.
We continue to increase our overall iPhone manufacturing capacity in the quarter. We were
pleased to launch a number of new carrier relationships. And by the end of the quarter,
iPhone was available through 228 carriers in 105 countries, compared to 186 carriers in 90
countries as of the end of the March quarter. We ended the quarter with about 5.9 million
iPhones in channel inventory, a sequential increase of about 700,000 to support strong
iPhone demand, carrier addition and expanded distribution. We remained within our target
range of 4 to 6 weeks of iPhone channel inventory.
iPhone continues to be adopted as the standard across the enterprise with 91% of the
Fortune 500 deployed or testing the device, up from 88% last quarter. We're also seeing
great growth in scale worldwide. Today, 57% of Global 500 companies are testing or
deploying iPhone, fueled by strong employee demand and opportunities for custom App
development. Some examples of Global 500 companies supporting iPhones on their
corporate networks, include AXA, Credit Agricole, Nestlé, Dow Chemical, GlaxoSmithKline,
SUPERVALU and Comcast.
Turning to iPad. We continue to be thrilled with its incredible momentum. We sold a record
9.2 million iPads during the June quarter compared to 3.3 million in the year ago quarter,
an increase of 183%. We were able to increase production sequentially by over 4.5 million
and we sold every iPad we can make. We launched iPad 2 in an additional 36 countries. And
combining the original iPad and iPad 2, we ended the quarter with distribution in a total of
64 countries. Recognized revenue from sales of iPad and iPad accessories during the quarter
was over 6 billion, compared to 2.2 billion in the year ago quarter, an increase of 179%. We
ended the quarter with about 1.05 million iPads in channel inventory, a sequential increase
of about 200,000, which was well below our target range of 4 to 6 weeks. Today, 86% of
the Fortune 500 are deploying or testing iPad within their enterprises, up from 75% last
3. quarter.
We are also seeing strong adoption internationally with 47% of Global 500 companies
testing or deploying iPad. In the 15 months since iPad has shipped, we've seen iPads used
in the enterprise in ways we could have never imagined. Companies like Boston Scientific,
Xerox and Salesforce.com are deploying thousands of iPads and revolutionize in how their
sales teams engage their customers. iPad is being used inside the country's top hospitals
like HCA and Cedars-Sinai and in retail at Nordstrom and at Esteé Lauder's Clinique
counters. General Electric, SAP and Standard Charter have developed internal Apps for
training, currency tracking and business process management to help make employees even
more productive. And Alaska Airlines and American Airlines are using the iPad in cockpit to
replace paper-based navigational and reference information pilots carry with him on every
flight.
We continue to be delighted by the diverse and sometimes, unexpected use cases we
see around iPad. Combining iPhone, iPad and iPod touch, we reached over 222 million
cumulative iOS device sales through the end of the June quarter.
Last month, we provided a preview of iOS 5, which includes over 200 new features such as
notification center for viewing and managing notifications without interruption, iMessage for
sending text messages, photos and videos between iOS devices and Newsstand, a new way
to purchase an organized newspaper and magazine subscriptions.
With the new PC-free feature, iOS 5 users will be able to activate and set up iOS devices
right out of the box with no computer required. We are looking forward to launching iOS 5
this fall.
In June, we also provided a preview of iCloud, our set of free new services that work
seamlessly with applications on the customer's iPhone, iPad, iPod touch, Mac or PC to
automatically and wirelessly store content in the cloud, as well as push it to all the users'
devices. We think customers will love using iCloud and we look forward to its release in the
fall.
The App Store continues to be incredibly successful with over 425,000 apps available
in over 15 billion downloads to date. And as we mentioned last month, we're extremely
pleased to have reached over 2.5 billion in cumulative payments to iOS developer, far ahead
of any of our competitors.
I'd now like to turn to the Apple Retail Stores, which generated record June quarter results.
Revenue grew to $3.5 billion from $2.6 billion in the year ago quarter, an increase of 36%.
This growth was driven primarily by higher volumes of iPad, iPhones and Macs. The store
sold 768,000 Macs compared to 677,000 Macs in the year ago quarter, an increase of 13%.
And about half of the Macs sold in our stores during the June quarter were to customers
who had never owned a Mac before. We opened 4 new stores in the quarter, including 2 in
France, 1 in the U.K. and 1 in Germany, ending with a total of 327. With an average of 325
stores open, average revenue per store was $10.8 million compared to $9 million in the
year ago quarter, an increase of 20%. Retail segment margin was $828 million compared
to $593 million in the year ago quarter. Store traffic continues to be very strong. We hosted
73.7 million visitors in the June quarter compared to 60.5 million in the year ago quarter, an
increase of 22%.
4. Our recently launched, personal setup program is off to a great start. Customers love this
new feature the retail store experience that they're up and running with their new products
before they leave. During the June quarter, we set up over 2 million Macs, iPhone, iPads
and iPods collectively.
We plan to open 30 new stores in the September quarter, including our first store in Hong
Kong. That will bring us to a total of 40 store openings in fiscal 2011, including 28 new
stores outside United States.
Total company gross margin was 41.7%, which was 370 basis points higher than our
guidance. This difference was a result of 3 approximately equal factors: a stronger mix
of iPhone; lower commodity and other costs, which included some one-time items; and
leverage on the higher revenue. Operating expenses were $2.54 billion and included $232
million in stock based compensation expense. OI&E was $172 million and the tax rate for
the quarter was 23.5%.
Turning to cash. Our cash for short-term and long-term marketable securities totaled $76.2
billion at the end of the June quarter compared to $65.8 billion at the end of the March
quarter, a sequential increase of $10.4 billion. Cash flow from operations was $11.1 billion,
an increase of 131% year-over-year.
I'd now like to talk about the accounting implications of some of the new aspects of our
products and services. First, when we deliver Mac OS X Lion to customers, we are now
including the right to receive future unspecified minor software upgrades and features
when and if they become available for both the Mac operating system and our suite of
Mac OS allied [ph] applications. We will continue to charge for standalone sales of our
periodic major OS upgrades, such as Lion, as well as major upgrades of iLife. Revenue from
these standalone sales will now be fully deferred at the time of sale and recognized over
a period of 3 years. In addition to this future software upgrade right, Mac customers will
have access to iCloud services when they become available in the fall. We estimate that
the combined value of the software upgrade right and iCloud services for Mac customers is
$22. Therefore, as of June 6, we began deferring $22 of the revenue associated with each
new Mac sold. And we will recognize these deferred amounts as revenue over a period of 4
years.
Purchasers of IOS devices will also have access to iCloud. So beginning on June 6, we
begin to sign a portion of the revenue from each iOS device sold to represent the estimated
value of the right to receive iCloud services when they become available. That deferred
amount is in addition to the amount that we will already deferring for each iOS device sold
to represent the right to receive future iOS software upgrades.
As a result, beginning on June 6, we are deferring a total of $16 of revenue for each iPhone
and iPad sold and a total of $11 for each iPod touch sold and recognizing those amounts
over a period of 2 years. As we move ahead into the September quarter, I'd like to review
our outlook, which includes the types of forward-looking statements that Nancy referred to
at the beginning of the call.
We expect revenue to be about $25 billion compared to $20.3 billion in the September
quarter last year. We expect gross margin to be about 38%, reflecting approximately $55
million related to stock-based compensation expense. We expect OpEx to be about $2.725
billion, including about $245 million related to stock-based compensation expense.
We expect OI&E to be about $50 million and we expect the tax rate to be about 24%. We
5. are targeting EPS of about $5.50.
In closing, we're extremely pleased with our record revenue and earnings and the
tremendous customer response to our products. Through the first 3 quarters of fiscal 2011,
we have generated $35 billion in year-over-year revenue growth translating to a 78%
increase. At the same time, we have generated over $9.5 billion in year-over-year earnings
growth, representing a 99% increase. We remain very excited about our new product
pipeline and we look forward to releasing the Mac OS X Lion tomorrow and bring in the
wonderful new features of iOS 5 and iCloud to customers this fall. With that, I'd like to open
the call to questions.
Nancy Paxton
[Operator Instructions]