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Technology Stocks : Apple Inc.

AAPL 278.28

+0.1%

Dec 12 9:30 AM EST

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To: Sam Scrutchins who wrote (11766)	4/18/1998 1:14:00 AM
From: Eric Yang	Read Replies (1) of 213176

As far as I know Apple still has a lot of tax credit from previous losses in the US. What I gathered from the conference call is that the 4 million dollars tax provision was taxes for foreign sales. I hadn't taken foreign tax provision into account in that Feb Q2 estimate article. If I subtract 4 million from the $61 million estimate, the estimate would have came in at $57 million. Pretty darn close/lucky eh? In terms of estimates for margin, and revenue initial estimate in that Feb article were also more accurate than the adjusted one. revenue was 1405 mil vs 1420 mil estimated margin was 24.83% vs 24.5% estimate cost was 297 mil vs 293 mil estimate interest was 8 mil vs 6.4 mil estimate tax was 4 mil vs 0 mil estimate... Okay I blew this one =-p The factor you mentioned regarding Q3 are important. I think the bottom line is that the revenue will increase from Q2. The question is how much. The sales of G3 DT and MT should remain healthy while the new AIO and WallStreet in May should help boost revenue. I haven't had time to think everything through yet but my initial impression is that we should see another slight improvement in margin (not a drop) due to higher percent of G3 and the intro of high margin WallStreets in May. "In this respect, please quantify how much each percentage change in margins will affect the bottom line." Each percentage point in margin translates to about 14-17 million in the bottom line..depending on the revenue. I tried plugging in a few numbers...and it looks like the profit in (millions) may even be a 3 digit number. I know what you guys are thinking... Eric must be out of his mind. ;-) Eric

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