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Wednesday, July 19, 2006 6:25:15 PM
Intel-based Mac accounted for 70% of Mac sales... Co says gross margins expansion was due to favorable product mix; Mac product rev increased 11% y/y... believes people have delayed orders of Macs waiting for the Intel-based products... Co says that they are limited to what they can say regarding new products; says very confident of products in pipeline and says they have a hard time believing that the creativity can be low... co says expect the commodity environment to continue; expect gross margins to decline due to promotions for back to school... Co says that from the data they have seen, the U.S. consumer is holding up well... co says revs guidance range represents growth of 22-25% y/y (notes last year was best mac sale for Back to school that they had ever had)... co says have not announced the ship dates for Leopard; notes Aug 6th their technology conference starts and they will begin to make product announcements at that point... co says average store sales was down slightly y/y as a result of iPod sales being relatively flat y/y... co says does not release specific gross margins; notes iPod gross margin was up in JunQ and says that was due to a favorable commodity market; co says will continue to be aggressive on pricing; targeting gross margin in the 27-28% range... Says promotions did not play a significant role in JunQ sales for iPod... co says that they are in a few of the Best Buy stores... co says have gotten more aggressive outside the U.S.; notes they saw share gains in European countries... co says released the beat for Boot Camp in April and so far the number of downloads have been 'significant'... asked if there will be any surprises at the developers conference, co responds you will have to come to the event... stock is trading at $58.74 in after hours... call has ended.
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