Apple

- Apple issued $5.5 billion of new debt during the September quarter. - The company repaid $2.8 billion in maturing debt and decreased commercial paper by $1 billion. - Total debt at the end of the quarter stood at $113.8 billion. - There is no mention of any new equity fundraising in the provided excerpts. - Apple ended the quarter with $49 billion in securities and is progressing toward becoming net cash neutral over time. - The capital return program remains active, with over $29 billion returned to shareholders in the quarter through dividends and share repurchases. - No indications of plans for additional equity issuance or significant new debt offerings beyond the quarterly activity mentioned.

- Capital expenditure (capex) has been relatively stable in recent years with good capital intensity management. - Current capex is focused on three main areas: manufacturing facilities, data centers, and office facilities worldwide. - There is continuous monitoring of these investments to ensure efficiency and appropriateness. - The company is actively pursuing acquisitions, averaging about one per month in fiscal year 2022, focusing on those that provide intellectual property, talent, or both. - Apple aims to continue deploying cash effectively to benefit investors, supported by strong free cash flow generation ($111 billion in the last fiscal year). - The goal remains to reach cash-neutral status over time. - The fiscal calendar adjustment (14-week quarter) will mean slightly higher revenues and costs due to additional selling days but no significant change in capex percentages.

- Apple expects a deceleration in growth for the December quarter compared to the September quarter's 8% year-over-year growth, with growth likely lower than 8%, but not necessarily negative. - Significant FX headwinds (approximately 10 percentage points negative impact) will affect reported revenue and gross margin. - Mac revenue is expected to decline substantially year-over-year in the December quarter due to a difficult compare from last year's M1 MacBook Pro launch and FX pressures. - Services growth faces challenges from digital advertising and gaming softness, and FX headwinds, though the installed base and paid subscriptions are growing robustly. - Strong iPhone demand persists with constrained supply on new models; channel inventory ended below target at September quarter-end but demand remains healthy. - Emerging markets like India, Indonesia, Mexico, and Vietnam are showing strong double-digit growth even after currency effects. - Apple remains focused on long-term growth driven by customer loyalty, product launches, and ecosystem expansion despite near-term macroeconomic challenges.

- Apple expects a deceleration in revenue growth for the December quarter compared to September, partly due to nearly 10 percentage points of negative foreign exchange impact and challenging year-over-year comparisons, especially for Mac revenue. - Gross margin guidance for the December quarter is 42.5% to 43.5%, factoring in inflationary pressures and FX headwinds. - Operating expenses are expected between $14.7 billion and $14.9 billion. - Operating income and expenses (OI&E) are forecasted around negative $300 million, excluding mark-to-market impacts. - The tax rate guidance is approximately 16.5%. - EPS growth is likely to moderate given the deceleration in revenue growth and macroeconomic challenges, though no explicit EPS guidance was given. - Apple aims to sustain strong free cash flow generation to support capital return programs and investments. - Overall, growth remains positive but at a slower pace with uncertainties from FX and macro factors.

- iPhone demand remains strong with ongoing supply constraints, especially for iPhone 14 Pro and Pro Max. - Company is working hard to fulfill high demand and clear backorders. - Mac had an exceptional quarter aided by new product launches and satisfying previous supply shortfalls. - Channel inventory for iPhone ended below target range in the September quarter but demand remains robust. - The December quarter is expected to see some deceleration in performance compared to September's 8% growth. - Supply and demand dynamics remain tight, with no explicit mention of a backlog build-up beyond typical inventory management. - Overall, strong order flow and high customer satisfaction support continued solid demand across product lines.