“We expect our OpEx to be between $11.3 billion and $11.5 billion.”

In context

“git 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. With that, let's open the call to questions. Tim Cook: Thank you, Luca. We ask that you limit yourself to two questions. Operator, may we have the first question, please. Operator: Thank you. Our first question comes from Katy Huberty from Morgan Stanley. Please go ahead. Katy, your line is open. Please check your mute function. We'll take our next question from Chris Caso with Raymond James. Chris Caso: Thank you. Good morning. Just dig into the commentary on guid”