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PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements

APPLE INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in millions, except share amounts which are reflected in thousands and per share amounts)

Three Months Ended

Six Months Ended

Net sales Cost of sales

Gross margin

$ 24,667

$ 13,499

14,449

7,874

10,218

5,625

March 26,

March 27,

2011

2010

March 26,

March 27,

2011

2010

$ 51,408

$ 29,182

30,892

17,146

20,516

12,036

Operating expenses: Research and development Selling, general and administrative

Total operating expenses

Operating income Other income and expense

Income before provision for income taxes

Provision for income taxes Net income

7,874

3,979

26

50

581

426

1,763

1,220

2,344

1,646

7,900

4,029

$

1,913 5,987

$

955 3,074

15,701

8,704

162

83

3,872

2,335

$ 11,991

$

6,452

1,156

824

3,659

2,508

4,815

3,332

15,863

8,787

Earnings per common share: Basic Diluted

Shares used in computing earnings per share: Basic Diluted

$

6.49

$

3.39

$

6.40

$

3.33

923,196

907,548

935,944

922,878

$

13.02

$

7.12

$

12.83

$

7.00

921,245

905,545

934,549

921,331

See accompanying Notes to Condensed Consolidated Financial Statements. 2

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