Apple Q1 earnings conference call update (167.78 +0.78)
Company exited the December quarter towards the lower end of its target range of 5 to 7 weeks of iPhone channel inventory.
Total wearables revenue was up 70% YoY; second largest contributor to revenue growth.
Average iPad sales per week up 8% YoY; strong sales in India and Eastern Europe.
Co expects to make $38 bln payment to US Government because of repatriation.
Will Deploy Capital from Overseas 'over time' because amounts are very large (Apple typically announces share repurchase and dividend updates after March quarter).