Welcome! Apple's fourth quarter earnings are expected to hit shortly after 4:00 p.m. ET. Keep your browsers locked here for the latest numbers.
All eyes will be on Apple's iPhone sales, which generally comprise over half of the tech firm's profits.
Analysts are expecting about 33 million iPhone unit sales in the three months ending in September, with some estimates as high as 36 million. Over the summer, Apple reported it sold 31.2 million iPhones, a record for its June quarter.
Tim Cook, Apple’s CEO, says in the earnings report: “We’re pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones."
Apple shares (NASDAQ: AAPL) are down about 2 percent to $518 after-hours.
Apple beats Wall Street expectations for profit and sales, but the stock is falling on disappointing outlook.
Apple's revenue guidance for the next quarter is $55 billion to $58 billion, which is in line with analysts' expectations.
Apple’s Board of Directors has declared a cash dividend of $3.05 per share of the Company’s common stock. The dividend is payable on November 14, 2013, to shareholders of record as of the close of business on November 11, 2013.
By the way, Apple's 33.8 million iPhones sold during the last three months is a company record for its September quarter. Apple sold 26.9 million iPhones in the same quarter last year.
iPhone sales were a lot better than expectations -- 33.8 million vs. street estimate of 31-million
Brian Colello, analyst with Morningstar, said investors were looking for stronger profitability. He says Apple's guidance implies that new devices, whether it be the iPad Mini with Retina Display or the iPhone 5s, are a bit more expensive to make than anticipated.
Apple forecasts that in its next quarter, its gross margin (or the percent of sales revenue it keeps after costs) will be between 36.5 percent and 37.5 percent.
iPad sales did come in a bit light of expectations -- 14.1 million vs. street guidance of 14.5 million and iPad sales were almost exactly the same as the year ago quarter.
Or you can just tune in to hear the beautiful piano music until Tim Cook and the others take over the line.
Also the sales of the 5S & 5C came very late in the quarter too -- Didn't go on sale until late September.
@JoannaStern: According to Shazam Apple is playing Preludes - Livre II: La terrasse des audiences due clair de lune, Pascal Roge in advance of the conference call
Apple still has lots and lots of cash -- close to $147 billion
@RebeccaJarvis: AMAZING. I was expecting "Music rich people like..."
That $147 billion in cash accounts for 10% of all cash held by U.S. corporates.
Cook is talking up the great Apple products and giving a recap of all the new product announcements -- iPhone 5s, iPhone 5c, iPad Air, iPad Mini with Retina.
And Cook's classic line: "All of these are products only Apple could have delivered."
150 million iPhones sold in the fiscal year.. That is a lot of phones..
Peter Oppenheimer, Apple's CFO, up now on the call.
CFO Oppenheimer is pleased with iPhone growth in developing markets -- Latin America, Russia, India, etc.
Oppenheimer says iPad sales exceeded Apple's expectations for the quarter as the company was gearing up to launch the new iPad Air and iPad Mini with Retina.
Oppenheimer points to research that says iPhone users spend 53 percent more time on their phones than Android users.
Lots of repetition by Oppenheimer of some of the things we heard at the iPad event last week: iOS 7 and the iPad are used more by people than other tablets, companies are using custom iPad apps for business.
Apple shares are bouncing back a bit -- could be investors like what they heard from CEO Tim Cook about the "capital allocation" -- the buyback and dividend.
60 Billion Apps have now been downloaded according to Apple CFO Oppenheimer..
Apple has 416 stores, including 162 stores outside U.S.
35.5 billion in cash in the U.S.
$111 plus billion in cash overseas
76% of Apple's cash is overseas..
Now time for the hungry analysts to ask questions.
Question to Cook about the new technologies, including the 64-bit processor in the iPhone: "We have the first 64-bit smartphone and this is our first use of the fingerprint sensor... These new innovations led us to have the best iPhone launch ever."
iPhone 5C is described as a "mid-tier offer," as opposed to "high-end," and Apple says it wants to grow in both categories. "Our entry iPhone is iPhone 4S."
And the big question about new "product categories."