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Live from Apple’s Q2 2011 results

-Still holding, waiting for additional participants – should “start in about 4 minutes”

-Peter Oppenheimer and Apple COO Tim Cook will be handling the question and answer session

-CFO Oppenheimer speaking now, pleased to report highest marked quarter revenue in Apple’s history

-All time record for Macs and iPhone, thrilled with momentum for iPad

-Largest year-over-year quartly growth ever generated: fueled by demand for iPad and iPhone, Mac growth

-Asia/Pacific region very strong, growing

-Talking about excellent customer response for MacBook Air and MacBook Pro. Talking about Lion: best ideas from iPad. Lion is still on track for summer. Apple will share more great Lion features at WWDC in early June.

Continue after the break…

-Total iPod sales ahead of expectations. iPod touch is over 50% of iPod sales. iPod continues is the best-selling music player in most countries

-iTunes Store had its best quarter ever. 100 million iBooks downloaded, new publishers

-iPhone growth is significantly ahead of IDC’s estimates for March quarter. 12.3 billion dolla revenue for iPhone and iPhone accessories. Sales in Americas and Asia Pacific doubling.

-Significant increase in iPhone production. Happy about Verizon and new carriers in Saudia Arabia in Korea – 186 carriers in 96 countries total.

-iPhone continuing strong growth in the enterprise. Cisco, Prudential, GM, Xerox, American Airline some examples of who is deploying iPhones

-iPad 2 demand in strong, and Apple is working hard to get them into customer’s hands.

-Apple sold every iPad 2 they could make, would have liked to have more available to sell

-Employee demand for iPad in enterprise is very strong. 75% of Fortune 500 is testing or deploying iPads: Xerox, Autonation, Young, ADP, Boston Scientific, Disney, Striker, Rite Aid are some examples.

-189 million iOS devices sales throughout March quarter

-Talking about retail: 10 year anniversary. Personal setup: 1 Millin products setup. 9.9 million average revenue per store. 67% increase. International store sales good, growing.

-Apple to open 40 more stores in fiscal 2011. 3/4 of stores to be outside of the United States.

Apple’s outlook: Growth margin of 38% for next quarter.

Apple is thrilled of March quarter results, working to get iPad 2 in the hands of their customers. Apple is very excited for their new product pipeline.

Q/A now:

Golden Sachs: Supply chain disruption because of Japan disasters:

Tim Cook on Japan: Incredible tragedy, Apple has a long history of ties to Japan, very saddened, Apple is assisting in relief efforts. Revenues will be $200 million less in Q3 due to disaster. Apple’s supply chains are unaffected and Apple thinks the supply chain will not be affected in the future. Japan supplies many pieces of Apple’s products. Apple and suppliers have been working hard to maintain supply flows. Incredible resilience in the aftermath of this disaster. Cook says the situation is still unpredictable and there are supply risks. Apple knows of no issue of today, but there are no guarantees of no future issues.

iPad 2 constraints?

Tim Cook: iPad 2 demand is staggering, Apple is still amazed and heavily backlogged. However, Cook is pleased with the progress. Apple was so confident that they rolled out 25 new countries in late March. Additional 13 countries next week, even more countries throughout the next quarter. Very confident in iPad production for next quarter.

iPhone growth is amazing in U.S. and China. 3X growth in China. 5 billion dollars iPhone revenue in China. Apple is extremely happy with how they are doing in China.

Comment on $49 iPhone 3GS:

Very popular, did very well.

On LTE?:

First generation of LTE chipsets force a lot of design compromises that Apple will not make. Apple is extremely happy with iPhone 4 and iPhone 3GS

-iMac and MacBook doing well

-Apple is constantly looking to reach more GSM and CDMA carriers. Won’t reveal specifics

-Is Mac vs. PC like iOS vs. Android?

-Tim Cook references comScore data from yesterday. Clearly happy. Apple feels very very good about where they are.

-Apple has paid over 2B dollars to developers of App Store applications. iPhone’s integrated approach is better than Android’s very fragmented approach.

-Gene Munster asking about iPhone:

Tim Cook: Apple’s focus has very much been on China. Apple wants to understand the Chinese markets.

Steve Jobs involvement and return:

-Steve Jobs is still on medical leave, continues to come in on a regular basis, Steve wants back in full time as soon as he can.

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