Apple's CEO Announces Plans To Initiate Dividend And Share Repurchase Program (Transcript)

Apple Inc. (AAPL)

Dividend and Share Repurchase Program Conference Call

March 19, 2012 9:00 am ET

Executives

Nancy Paxton -

Timothy D. Cook - Chief Executive Officer and Director

Peter Oppenheimer - Chief Financial Officer and Senior Vice President

Analysts

Benjamin A. Reitzes - Barclays Capital, Research Division

Katy Huberty - Morgan Stanley, Research Division

Charles Eugene Munster - Piper Jaffray Companies, Research Division

Bill C. Shope - Goldman Sachs Group Inc., Research Division

Shannon S. Cross - Cross Research LLC

Kulbinder Garcha - Crédit Suisse AG, Research Division

Presentation

Operator

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Good day, everyone, and welcome to this Apple Incorporated conference to announce the outcome of the company's discussions concerning its cash balance. Today's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the conference over to Ms. Nancy Paxton, Senior Director of Investor Relations. Please go ahead, ma'am.

Nancy Paxton

Thank you. Good morning, and thanks to everyone for joining us. Speaking this morning will be Apple CEO, Tim Cook; and CFO, Peter Oppenheimer, and the purpose of today's call will be to announce the outcome of the company's discussions concerning its cash balance. We will not be providing a business update nor will we be discussing any other topics today. Tim and Peter will provide some opening remarks, and we'll follow that with a short Q&A session with analysts.

Please note that some of the comments you'll hear during our discussion today will consist of forward-looking statements including, without limitation, those regarding anticipated dividends and share repurchase activity and the expected performance of Apple's business. Actual execution of these activities and results of business operations could differ materially from our forecast. For more information, please refer to the risk factors discussed in Apple's Form 10-K for 2011 and the Form 10-Q for the quarter ended December 31, 2011. Apple assumes no obligation to update any forward-looking statements or information which speak as of their respective dates.

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