Apple first quarter earnings conference call update
- Co had revenue record for Apple Watch.
- Co had 'strong' growth in many emerging markets including Brazil.
- Co added 1.2 mln in iPhone channel inventory; exited the quarter at the low end of its 5-7 week target channel inventory range.
- Co reported double digit Mac growth in Japan and China.
- Co ended the quarter at low end of 4-5 week targeted range for Mac channel inventory.
- Reduced iPad channel inventory by 700K; exited quarter at low end of 5-7 week target range.
- The company expects that foreign exchange will be a 'major negative' as the company moves from the December to the March quarter