Apple CFO Luca Guidance
can you tell me what Luca Maestri guided to in Apple's last call ?
In Apple's latest earnings call on November 2, 2023, CFO Luca Maestri provided detailed guidance for the December quarter. Below are the key points from his guidance:
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Total Company Revenue: Despite having one less week compared to the previous year, Apple expects the December quarter total company revenue to be similar to the previous year. Last year's extra week added about 7 percentage points to the quarter's total revenue.
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iPhone Revenue: Apple forecasts iPhone revenue to grow year-over-year on an absolute basis. They also anticipate growth after normalizing for both last year's supply disruptions and the one extra week.
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Mac Performance: There's an expectation of significant acceleration in Mac year-over-year performance compared to the September quarter.
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iPad and Wearables, Home and Accessories: Revenue performance for both iPad and Wearables, Home and Accessories is expected to decelerate significantly from the September quarter. This is due to different timing of product launches compared to the previous year.
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Services Business: Apple projects the average revenue per week in their Services business to grow at a similar strong double-digit rate as it did during the September quarter.
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Gross Margin: The gross margin is expected to be between 45% and 46%.
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Operating Expenses: Expected to be between
14.4 billion and14.6 billion. -
Other Income and Expenses (OI&E): OI&E is anticipated to be around negative $200 million, excluding any potential impact from the mark-to-market of minority investments.
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Tax Rate: The tax rate is expected to be around 16%.
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Dividend: A cash dividend of $0.24 per share of common stock has been declared, payable on November 16, 2023.
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Outlook Assumptions: The guidance assumes that the macroeconomic outlook does not worsen from what Apple is projecting for the current quarter.