In recent years, the U.S. economy has consistently outperformed expectations,

Expectations are high and they should be. They are anxious to get things going.

We're cautious. We'd rather exceed expectations than miss but I think it's going to be a continued difficult economy. Apple is trying a different way to navigate out of this ? we're trying to innovate.

Expectations for higher interest rates are solid now. No one doubts that the Japanese economy is improving.

Solid execution in the field, a strengthening competitive position, and an improving economy contributed to results that were above expectations,

Strong economic figures will confirm the Japanese economy is doing better, reinforcing expectations of an end to the zero- interest-rate policy as early as the fourth quarter. That's yen positive for sure.