Apple sees Q2 revenue up 13%-16%

Says revenue guidance comprehends best estimates of constrained iPhone supply during the quarter. Sees Q2 services revenue similar to Q1. Sees Q2 gross margin 48%-49%. Sees Q2 operating expense $18.4B-$18.7B. Sees Q2 OI&E $100M. Sees Q2 tax rate17.5%. Says result of staggering Q1 demand, exited the December quarter with a very lean channel inventory. Says difficult to predict when supply and demand will balance. Says constraints are driven by the availability of the advanced nodes. Says seeing less flexibility in supply chain than normal. Says reporting best ever quarter, exceeding expectations. Says demand for iPhone was simply staggering, with revenue growing 23% year over year and all-time records across every geographic segment. Says set all time revenue records in the Americas, Europe, Japan and rest of Asia Pacific and grew in the vast majority of markets. Says had the best iPhone quarter in history in Greater China. Says customer enthusiasm for iPhone was simply extraordinary. Says has new record for installed base with more than 2.5B active devices. Says TV has seen fantastic momentum with December seeing a 36% increase in viewership over the previous year. Comments and guidance taken from Q1 earnings conference call.