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Apple Reports Second Quarter Profit of $40 Million

CUPERTINO, Calif., April 17 /PRNewswire-FirstCall/ -- Apple® (Nasdaq: AAPL -
news) today announced financial results for its fiscal 2002 second quarter
ended March 30, 2002. For the quarter, the Company posted a net profit of
$40 million, or $.11 per diluted share. These results compare to a net
profit of $43 million, or $.12 per diluted share, in the year ago quarter.
Revenues for the quarter were $1.5 billion, up 4 percent from the year ago
quarter, and gross margins were 27.4 percent, compared to 26.9 percent in
the year ago quarter. International sales accounted for 45 percent of the
quarter's revenues.

Apple shipped 813 thousand Macintosh® units during the quarter, up 8% from
the year ago quarter.

``We've experienced incredible demand for the new flat screen iMac and
shipped 220,000 this quarter. Feedback from customers using them has been
off the charts -- we've clearly got a winner here,'' said Steve Jobs,
Apple's CEO. ``Looking forward, we're making great progress on our
transition to Mac OS X, we have some remarkable new products in development,
and we plan to open an additional 20 Apple retail stores by the end of this
calendar year.''

``We're pleased to have delivered solid results while executing a
challenging product transition,'' said Fred Anderson, Apple's CFO. ``Our
balance sheet remains very strong with $4.3 billion in cash. We are
targeting June quarter revenues to be up sequentially to about $1.6 billion
and EPS to be flat to up slightly compared with the March quarter.''

Apple ignited the personal computer revolution in the 1970s with the Apple
II and reinvented the personal computer in the 1980s with the Macintosh.
Apple is committed to bringing the best personal computing experience to
students, educators, creative professionals and consumers around the world
through its innovative hardware, software and Internet offerings.

Apple will provide live streaming of its Q2 2002 financial results
conference call utilizing QuickTime®, Apple's standards-based technology for
live and on-demand audio and video streaming. The live webcast will begin at
2:30 p.m. PT on Wednesday, April 17, 2002 at and will also be available
for replay. The QuickTime player is available free for Macintosh and Windows
users at

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*9/11/2001*  We will never forget -

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