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Apple's CEO Discusses Q2 2011 Results - Earnings Call Transcript

Apple (AAPL)

Q2 2011 Earnings Call

April 20, 2011 5:00 pm ET

Executives

Peter Oppenheimer - Chief Financial Officer and Senior Vice President

Timothy Cook - Chief Operating Officer

Nancy Paxton - IR

Steven Jobs - Co-Founder, Chief Executive Officer and Director

Analysts

Maynard Um - UBS Investment Bank

Mike Abramsky - RBC Capital Markets, LLC

Benjamin Reitzes - Barclays Capital

Keith Bachman - BMO Capital Markets U.S.

Richard Gardner - Citigroup Inc

Charles Munster - Piper Jaffray Companies

Brian Blair - Wedge Partners

Chris Whitmore - Deutsche Bank AG

Toni Sacconaghi - Sanford C. Bernstein & Co., Inc.

Mark Moskowitz - JP Morgan Chase & Co

Shaw Wu - Sterne Agee & Leach Inc.

Andy Hargreaves - Pacific Crest Securities, Inc.

Scott Craig

Katy Huberty - Morgan Stanley

Bill Shope - Goldman Sachs Group Inc.

Presentation

Operator

Good day, everyone, and welcome to this Apple Inc. Second Quarter Fiscal Year 2011 Earnings Release Conference Call. [Operator Instructions] At this time for opening remarks and introductions, I would now turn the call over to Ms. Nancy Paxton, Senior Director of Investor Relations. Please go ahead, ma'am.

Nancy Paxton

Thank you. Good afternoon, and thanks to everyone for joining us today. Speaking today is Apple CFO, Peter Oppenheimer; and he'll be joined by Apple COO, Tim Cook; and Treasurer, Gary Wipfler, for the Q&A session with the analysts.

Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements, including, without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, stock-based compensation expense, taxes, earnings per share and future products. Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in Apple's Form 10-K for 2010, the Form 10-Q for the first quarter of fiscal 2011 and the Form 8-K filed with the SEC today along with the attached press release. Apple assumes no obligation to update any forward-looking statements or information which speak as of their respective date.

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