Today's Above Avalon daily update includes the following stories:

Share Buybacks to Face 1% Excise Tax
Revisiting Apple’s Buyback Plans
My Revised Apple Financial Estimates

We kick things off by going over Neil’s thoughts on the 1% excise tax that will soon apply to stock buybacks. The discussion goes over Apple’s deliberations regarding buyback vs. cash dividends and how an excise tax could impact that dynamic. The update concludes with Neil’s revised Apple earnings model that now has FY3Q22 numbers, Apple's FY4Q22 guidance, and Neil’s revised assumptions for FY2023. Access to Neil’s Apple earnings model is a benefit associated with Above Avalon membership at no additional cost.

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The cornerstone of Above Avalon membership is access to Neil’s exclusive daily updates about Apple. Daily updates are 2,000 words and sent via email Monday through Thursday. Updates revolve around the following topics:

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If it is of interest to Apple, it is something I pay attention to.

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