The call is starting in about 10 minutes. We’ll be noting the important details, that are not on the press release, here.

-Oppenheimer speaking: $26.7 billion dollar quarter. Record iPhone, iPad and Mac sales. Net income $6 billion. $6.43 earnings per share.

-50% growth for Macs in Asian region: thanks MacBook Air and Pro.

-Mac App Store: 1 million downloads on the first day

-iPod touch grew 27%. iPod touch accounted for 50% of iPod sales. iPod is still top-selling MP3 player in most countries. 70% market share

-iTunes revenue: $1.1 billion. Renting and purchasing 400,000 TV shows per day

-iPhone and iPhone accessories: $10.7 billion. 185 world-wide carrier partners. 88 of Fortune 100 companies are testing/deploying iPhones. Starbucks, Nissan, Wells Fargo… deploying iPhones now.

-Thrilled with iPads. 46 countries for distribution. Employee demand for corporate companies “remains strong.” 80% of Fortune 100 are already deploying or piloting iPads.- up from 65%. Increased supplies of iPads and distribution channels.

-Added 160 million iOS users in Q1 2011. Pleased with iAds: Europe and Japan now have iAds.

-Retail revenue increase:

-3.9 billion dollars in pre-payment to 3 vendors

-Cash $59.7 billion at end of December, compared to $51 billion at end of Sep.

Q/A with Oppenheimer and Tim Cook:

-How are you ensuring a proper supply of iPhones and availability? Cook: Describing how good the quarter was for iPhones. Taking time to clear the backlog. Thrilled to offer iPhone 4 on Verizon. Doing everything possible to have enough iPhones for Verizon customers.

-Best selling Mac App Store apps are Apple software. Thoughts? Cook: Mac App Store is getting going. Thrilled to have sold 1 million apps in one day. Very happy at the store’s start.

-Comfort with iPhone and iPad availability? Cook: happy with iPad sales and expansion (46 countries by end of country) (added 20 in quarter). Adding 15 iPad countries in January. 60 countries total. iPhone: Cook: feels good about iPhone 4. What they are doing “is not enough.”  Apple still has a significant “backlog.” Demand is so high. Cook won’t predict when supply will meet demand.

-Cook: China sales way up from previous quarters. Over 3 billion dollars for the year in China. Outstanding Q1 in Korea due to iPhone and iPad. Japan’s Apple revenue has been up 83%. Focusing on even more Asian expansion.

-Long term business planning? Roadmap details? Cook: Doesn’t want to share Apple’s “magic.” Apple is doing its best work ever. Very happy with product pipeline. Team does an unparalleled job. That Steve has drive. Excellence has become a habit. Very confidant about the future of the company. Apple has done phenomenal in Mac business. Low percents of market share in Computer market. Enormous opportunity… incredibly momentum. “Incredible product pipeline.” Oppenheimer: Would have loved to ended with more iPhone channel inventory.

-Cook: Going forward in March quarter… expects favorable pricing environment for DRAM. Key metal prices are increasing due to anticipated increase in world economy. Other product parts are generally matching in supply and demand. Cook: Won’t comment on long term component commitments. Design side: innovate beyond what is availability on market. Praising the A4 chip and its decide. Operations: Entered into certain agreements for supply. Largest agreement is agreement with several flash suppliers (over a billion dollars) in 2005. Felt flash would be essential to future product lines. Constantly looking for more great deals like this. New area of deals alluded to. Not clear what is it.

-iPad production questions. Cook: Won’t take single product outside itself and speak about specific iPad product margins. Confident in it though. Peter says iPad has very strong iPad growth margin.

Comment on iPad competitors? Cook: Not much out there. Two kinds of groups: Windows tablets are generally big, heavy, and expensive. Weak battery life. Require keyboard and stylus as input devices. Says customers arem’t interested.

Cook on Android tablets: OS wasn’t designed for a tablet. Google has said this. Android tablet size is less than what is reasonable to provide a real tablet experience. Wind up with a scaled-up smartphone. A “bizarre” product. Apple not concerned about these tablets.

Cook on new Android tablets with better OS: Not enough specs to comment on them. Apple will assess them as they launch. Apple is not “sitting still.” Apple provides and incredible user experience with iTunes, App Store, and a huge ecosystem. Apple is confident against these next-gen tablets.

Comments on iPhone carriers, non-exclusivity, more world-wide carriers (CDMA)? Cook: (comments are general. not related to any region or carrier). Does not envision overall iPhone sales decreasing from this quarter to next quarter. Apple is always and assessing in every country we should be doing business with. Apple is exploring new deals, arrangements, etc.-Continuing to do this. When Apple moved from an exclusive carrier arrangement to more carriers: growth has changed and market share has increased.

Cook: nothing to announce on more CDMA iPhone carriers. Exciting about Verizon iPhone 4 launch. Happy to give Verizon customers iPhones. Happy about multi-year non-exclusive deal with AT&T.

Cook: On Mac: Europe and U.S. both grew in double digits. Did significantly better than the market in every major region. iPad cannibalization? Doesn’t know for sure. Thinks there is some though. Introduced many people to Macs through the iPhone and the iPad. Thinks people who buy iPads and iPhones first will also buy Macs (this is an Asia mostly). If the iPad or tablets do canablize the PC market that’s still good. Apple still has a lot more to win than lose.

Cook: iPad teams are building best iPads for the future. Mac teams are building the best Macs for the future.

Comments on Lion and Mac App Store merging with iOS? Lion likes iOS: Not high walls between those product groups. “Same DNA.” No reason not merge good ideas. Key learnings from iPad was that people love instant on… so MacBook Air incorporates this. Tons of examples of where a feature started on one product but came to another.

yada, yada…

-More insight on iPad growth? Can Apple improve the iPad with new features?: Oppenheimer: Won’t talk about future products. Apple is looking to lower their costs. Growth margins were stronger than before. Feels very good about the performance of the iPad and its cost. iPad price drops?!

Asking Cook about the MacBook Air. What’s the platform? Cook: People love the MacBook Air. We’re happy with it. Only have been shipping it for less than 90 days.

Developer training at corporate level? The most forward looking CIO’s are realizing Apple’s devices are great fro business. Simple way to make apps with the iOS SDK. Wind up running a whole business off of an iPhone or iPad. Cook sees an enormous potential in business. Already up to 80% of the largest companies deploying and testings iPads. iPad has a huge a advantage since Apple pushes in enterprise features in major iOS updates. Synergy of the different iOS devices.

Call is over. Will be available to replay for 2 weeks on Apple’s website. Also available as a podcast on iTunes. Replays will start to be available at 5 PM Pacific today.

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