“Second, we expect our services growth rate to return to a more typical level.”

In context

“into the September quarter, I'd like to review our outlook, which includes the types of forward-looking information that Tejas referred to at the beginning of the call. Given the continued uncertainty around the world in the near-term, we're not providing revenue guidance. But we are sharing some directional insights, assuming that the COVID-related impacts to our business do not worsen from what we're projecting today for the current quarter. We expect very strong double digit year-over-year revenue growth during the September quarter. We expect revenue growth to be lower than our June quarter year-over-year growth of 36% for three reasons. First, we expect the foreign exchange impact on our year-over-year growth rate to be three points less favorable than it was during the June quarter. Second, we expect our services growth rate to return to a more typical level. The growth rate during the June quarter benefited from a favorable compare, as certain services were significantly impacted by the COVID lockdowns a year ago. And third, we expect supply constraints during the September quarter to be greater than what we experienced during the June quarter. The constraints will primarily impact iPhone and iPad. We expect gross margin to be between 41.5% and 42.5%. We expect our OpEx to be between $11.3 billion and $11.5 billion. We expect OI&E to be around zero, excluding any potential impact from the mark to market of minority investments and our tax rate to be around 16%. Finally, today, our Board of Directors has declared a cash dividends with $0.22 per share of common stock payable on August 12, 2021, to shareholders of record as of August 9, 2021. Wi”