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Technology Stocks : Apple Inc.

AAPL 277.47

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3:59 PM EST

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To: Richard Habib who wrote (25428)	7/13/1999 6:01:00 PM
From: Eric Yang	Read Replies (2) of 213173

"Fred stated in the last cc margins would be flat to slightly down, figure about 26%. Costs would be up 5-10M. Would assume taxes will be up somewhat sequentially about 13M or so. What are you using for fully diluted shares - 172?" I actually think margin will be flat to slightly higher. 1/3 if iMacs shipped last quarter were of the Rev B variety with lower margin. In comparison this quarter all the iMacs shipped were of Rev C and Rev D and the transition from one to the other was pretty smooth (no major price cuts). Prices for most models remain the same, except that they bumped up the specs. This is usually good for margin but the higher product mix of iMacs can offset some of this improvement to gross margin. Diluted share count is around 173 million shares. But keep in mind we still have to calculate EPS by adding back the interest savings. In other words add $3 million to actual interest savings for the quarter and another $7 million or to simulate the additional interest saving had the notes been converted in the beginning of the quarter... then divide everything by 173. Eric

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