Apple

- Apple repaid $2.8 billion in maturing debt and decreased commercial paper by $1 billion during the September quarter. - The company issued $5.5 billion of new debt, resulting in total debt of $127 billion. - Despite issuing new debt, Apple ended the quarter with $49 billion in cash and marketable securities. - The company continues progress toward its goal of becoming net cash neutral over time. - No mention of equity fundraising or plans for raising capital through equity. - The focus remains on strong cash flow generation, capital return programs, and managing debt levels prudently.

- Capital expenditure (capex) has been fairly stable with good capital intensity. - Current investments include dedicated tools for manufacturing facilities, spend on data centers, and office facilities worldwide. - No unplanned or extraordinary capital expenditures mentioned. - Apple monitors all capital projects carefully. - The company aims to maintain stable capex levels into fiscal 2023. - Cash generation remains strong, with $111 billion free cash flow last year, up 20% year-over-year. - Apple is actively pursuing acquisitions, averaging about one per month in FY 2022, targeting intellectual property and talent synergistic with the business. - Capital return programs continue with repurchases and dividends while holding net cash to eventually achieve cash neutrality.

- Apple expects a deceleration in growth for the December quarter compared to the 8% year-over-year growth in September, but still anticipates positive growth amid uncertainties. - The strong U.S. dollar and foreign exchange headwinds are expected to negatively impact revenue by nearly 10 percentage points year-over-year in the December quarter. - Mac revenue is anticipated to decline substantially year-over-year in December due to a challenging compare with last year's M1 MacBook Pro launch and FX headwinds. - Services growth is expected to face pressure from macroeconomic factors impacting foreign exchange, digital advertising, and gaming, though Apple's long-term service fundamentals remain strong. - Despite supply constraints on newer iPhone models (14 Pro and 14 Pro Max), demand remains robust, with channel inventory below target but ramping up. - Strong double-digit growth and records in emerging markets like India, Indonesia, Mexico, and Vietnam support growth prospects, especially in local currency terms. - Apple's overall revenue grew 8% year-over-year in September quarter with robust customer demand and record active installed base levels.

- Apple expects a deceleration in revenue growth in the December quarter compared to the September quarter. - Negative foreign exchange impact is expected to be nearly 10 percentage points year-over-year. - Mac revenue is anticipated to decline substantially year-over-year in the December quarter, due to tough comps from prior product launches. - Services growth is expected to decelerate, influenced by macroeconomic pressures and FX headwinds. - Gross margin guidance for the December quarter is 42.5% to 43.5%, reflecting inflationary pressures and FX challenges. - Operating expenses are expected between $14.7 billion and $14.9 billion. - Operating income and expense (OI&E) is expected around negative $300 million excluding mark-to-market items. - Tax rate forecasted around 16.5%. - Earnings per share (EPS) growth is slowing; the September quarter growth was 9%, but December quarter EPS growth is expected to be lower with uncertainty acknowledged. - Cash flow remains strong with $111 billion free cash flow last year, supporting continued capital return and investments.

- iPhone orders are strong with demand better than anticipated despite supply constraints on iPhone 14 Pro and Pro Max models. - The company is working hard to fulfill the strong demand and expects to be constrained on the 14 Pro models for a while. - Mac experienced its best quarter ever, helped by the new M2 MacBook Air/Pro launch and fulfilling backlogged orders. - Channel inventory for iPhone exited below target range in September quarter, indicating strong demand and ramp-up. - No explicit mention of a formal "order book" or pending orders number, but fulfillment efforts and inventory management suggest robust demand. - Demand for wearables and other products remained strong with supply constraints on Apple Watch Ultra. - Overall, Apple is actively managing supply chain and channel inventory to meet demand across products.