Apple

- During the September quarter, Apple repaid $2.8 billion in maturing debt. - The company decreased commercial paper by $1 billion. - Apple issued $5.5 billion of new debt, resulting in total debt of $114 billion at the end of the quarter. - The company ended the quarter with $49 billion in cash and marketable securities. - Apple continues progress toward its goal of becoming net cash neutral over time. - No mention of any new equity fundraising. - Capital allocation includes consistent share repurchases and dividends; $29 billion returned to shareholders in the quarter. - Free cash flow was very strong at $111 billion for fiscal year 2022. In summary, Apple actively manages debt with new issuances and repayments but has not indicated plans for equity fundraising.

- Capital expenditure (capex) has been fairly stable with good capital intensity. - Capex is allocated across three main components: dedicated manufacturing tools, data centers, and office facilities globally. - Monitoring of capex spending is ongoing with nothing unusual currently. - Fiscal year 2023 capex expected to remain relatively stable, with no significant increase projected. - Investment focuses on enhancements to manufacturing capabilities and infrastructure. - Strong free cash flow ($111 billion in last fiscal year) supports ongoing capital allocation. - Company aims for long-term capital return through share repurchases and dividends while staying cash-neutral over time. - Acquisitions continue at about one per month, focusing on intellectual property and talent synergy. - No indication of a major shift or aggressive increase in capex or strategic investments at this time.

- Apple expects total company year-over-year revenue growth in the December quarter to decelerate compared to September, partly due to nearly 10 percentage points of negative FX impact. - iPhone demand remains strong; the company exited September quarter with iPhone inventory below target, indicating robust demand and ongoing supply challenges, particularly for the iPhone 14 Pro and Pro Max. - Mac revenue is expected to decline substantially year-over-year in the December quarter due to a challenging compare and FX headwinds. - Services revenue growth is anticipated to slow due to macroeconomic headwinds including FX, digital advertising, and gaming softness, but the installed base and paid subscriptions continue growing rapidly. - Overall, Apple anticipates deceleration in growth rate from 8% in September to a lower figure in December, with uncertainty acknowledged. - Strong double-digit growth in emerging markets like India and Vietnam is a positive signal despite FX headwinds. - Apple focuses on expanding its installed base and ecosystem to drive future growth.

- Apple expects decelerating revenue growth in the December quarter compared to the September quarter due to significant foreign exchange (FX) headwinds, expecting nearly 10 percentage points of negative year-over-year FX impact. - Mac revenue is expected to decline substantially year-over-year in December due to a challenging compare and increased FX headwinds. - Services growth is likely to slow because of the economic environment, including impacts on digital advertising and gaming. - Gross margin guidance for the December quarter is between 42.5% and 43.5%, accounting for inflationary pressures and FX. - Operating expenses are expected between $14.7 billion and $14.9 billion. - Operating income and expenses are forecasted at around negative $300 million, excluding mark-to-market impacts. - The tax rate is expected to be around 16.5%. - EPS growth may be pressured by these factors; the company noted deceleration but did not provide specific EPS guidance.

- iPhone demand is strong and better than anticipated, with supply constraints particularly on the iPhone 14 Pro and Pro Max models. - Channel inventory for iPhone ended below the target range in September quarter, suggesting tight supply versus demand. - Supply continues to improve with efforts to fulfill demand, but product mix remains hard to determine due to ongoing constraints. - Mac sales benefited from satisfying back orders and channel fill, contributing to a record quarter. - iPad demand declined due to a strong prior-year comparable and supply constraints. - No explicit numeric data on exact orderbook or pending orders disclosed, but supply tightness on key iPhone models implies backlog. - Management remains focused on balancing supply and demand while ramping production to reduce shortages over time.