The major thing that matters on Apple's call is the September margin guidance and any signal on iPhone pricing. Thursday's June quarter is largely known. $AAPL guided to it in April and consensus sits inside the guide. September is open because of memory. Cook said in April that memory costs would rise significantly from the June quarter and keep growing after that. Apple had been cushioning it with chips bought earlier at lower prices, and that inventory is drawing down. In June Apple raised Mac and iPad prices, many models by 20% or more. It left the iPhone alone. The next iPhone launch is expected in September. Apple doesn't put guidance in the press release. The September range comes as spoken commentary from the CFO on the call. It is Cook's last call as CEO. Ternus takes over September 1. How much of the memory cost ends up in the iPhone's price?