We're going to be covering the Apple earnings call live at 5pm ET / 2 pm PT, now that the earnings report is out ($1.16 per share, hot hot hot!). To listen in on the call, you can pick up the QuickTime stream here. Remember, for ongoing coverage of AAPL be sure to check out our sister site BloggingStocks.

Over at Apple 2.0, Phillip Elmer-DeWitt has an excellent preview post on Apple's earnings report, scheduled for Wednesday afternoon at the market close. We'll be liveblogging the earnings call at 2 pm PT/5pm ET if you care to join in for the fun.

Despite spectactular sales and earnings growth for AAPL over the past couple of years, the Q1 earnings report (which featured extra-conservative guidance by Apple and some indications of a softening on iPod demand) triggered a selloff in the stock, with a drop in price from the lofty $200 highs at the end of 2007 (seen above) as profit-taking and recession fears drove investors to take their money and run. Will iPhone sales and Mac unit growth push profits (and the stock price) back towards the roof? Tune in Wednesday to find out.

Go second. Or third. Or last. That's the lesson on performing hacking upgrades. Let someone else make all the mistakes first and then follow just those footsteps that didn't lead, say, down the giant crevasse with the big old hungry lions waiting below.

Today, I'm about to upgrade my hacked Apple TV first--so you can see where I go wrong and then don't, yourself.

Steve thanks everybody, and we're out! Thanks for joining us. We'll be live at 7pm ET / 4 pm PT with today's talkcast covering all the announcements.

Playing "You've Got A Friend In Me."

"I'll always root against corporations, but not this one." "I actually wrote a big love theme [for Toy Story] but they cut Buzz and Woody's big love scene."

MacBook Air product page is up, as Randy is talking about CNBC and Steve's inherent humanity.

"That was about the toughest act to follow," says Randy. "I once did the David Frost show after the Flying Wallendas, and that was hard."

Wow, Randy is really going edgy with the ethnic comments about the Supreme Court. Scott says "Interesting choice."

Wow, let's have a more downbeat song for this gig, OK Randy? This is not dragging the crowd into a funk or anything, so try to darken it a bit if you could. Sing more about dictators and malaria, thanks big guy.

We're singing about America. Talking, mostly, kinda singing.

Randy is honored to be here. Might have brushed his hair, it's a pretty big room.

Randy Newman! Bingo. "You've got a friend in Apple..."

Hollywood and music... hmm.

We're reviewing now. Time Capsule, iPhone/touch updates, Movie rentals, AppleTV 2, and the skinny laptop. All in 2 weeks, and there are 50 more weeks to go. No one more thing -- but a special treat!

Laptop line includes three machines -- MacBook Pro, MacBook, MacBook Air. Very impressive indeed.



Greenpeace lady is squealing, as Steve is now giving an environmental update. Alumnum case, bromide free motherboard.

TV ad takes laptop out of an envelope. That's some interoffice mail for you right there.

$1799. 2 weeks out. Poor Nik! He was ready to buy one.



Three pounds is magnificent. 2 GB RAM standard, 80 GB HD standard.



Battery life 5 hours! Whoof.

Want to install software? New feature: all Macs or PCs in the network that have a CD mounted. Very sneaky, "Scott's MacBook" in screen shot, Scott is excited.

USB powered optical drive. But Steve thinks most people won't need it.

10:20 Smaller 75 watt power adaptor. Has a USB 2 port a micro-DV port, a headphone jack, and it comes with WiFi (n) and Bluetooth.

10:19 Paul Otellini takes the stage, thanks Steve and gives him one of the new tiny chips as a memento.

10 17 Entire motherboard is as long as a pencil, and uses the Intel Core 2 Duo 1.6 Ghz standard with 1.8 as an option, if you want. Apple has a great relationship with Intel and they turned to Intel for some help with getting the chip in the MacBook Air. They wanted the Core 2 Duo in the MacBook Air, but they needed the chip to be smaller, and Intel made it 60% smaller, which is crazy.

10:16: How did we fit a Mac in here? Steve is puzzled. They put a 1.8 inch harddrive. 80 gig is standard with an option of 64 gig solid state disk (pricey but fast).

Multitouch trackpad!! Rotate and scale pics, panning. Pinch for zoom.

10:13 Magnetic inch, 13.3" wide screen. Built-in iSight. Black keyboard, full size. Backlit!

The reveal -- it's incredibly thin.

Chris Ullrich said yesterday it fit inside an interoffice envelope -- and that's what's on the screen.

.76" to 0.16 inches thin? Ouch -- that could cut your hands!!!

Apple aiming for 3 pound machine, with better performance, full size keyboard, larger display, higher performance than Sony.

Thinner than Sony TZ, which is 0.8 to 1.2 inches.

A third notebook -- MacBook Air. World's Thinnest notebook.

10:08: Something in the air -- it's a notebook.

10:05 I'll say this for Jim; he's more compelling than Stan Sigman.

10:03 "People want easy access to movies." Homer Simpson slide. iDonut. "This is the coolest idea we've ever heard [movie rentals]."

10:02 First studio for movie rentals was 20th Century Fox. Introducing Jim Gianopulos, Chairman of Fox.


9:59 Clearly this is what AppleTV was meant to be all along. Awesome. And a free upgrade!!! Plus the new price of AppleTV is $229. Shipping in 2 weeks. By the way, credit to Nik for the pictures. Well done!

9:58 The HD skiing podcast was off the hook. Boom! Teton Gravity Research, a guy parachuting off a mountain. Yeesh.

9:58 Oops, no Flickr photo for the user slideshow! Heh.

HD podcasts, HD .Mac videos, all no computer involved.

Renting music videos now.

9:50 We're watching Blades of Glory. That's nice. Now Live Free or Die Hard in HD. So much for that helicopter.

9:46 New interface for AppleTV. "Top Movies." Star Trek has its own header.

9:43 That sound you heard was the HD-DVD coalition lead falling over and hitting his head. Christina says "Where's the DTS sound?" 5.1 Dolby will have to be enough for the rest of us. Buy TV shows, Flickr + .Mac photos all on your AppleTV.

9:42 What if I want to watch on TV? "All of us have tried." AppleTV Take 2! Now with movies. No computer is required, you can rent movies directly. Rent in DVD quality or HD!!!! Big cheers.

9:41 $2.99 to rent library titles, $3.99 for new. Demo time! Can sync movies one at a time to the iPod. Handy. Launches today! International later this year.

9:40 "So what's the deal?" 1000 films at launch in February, 30 day countdown after DVD release. Movies will be watchable immediately on streaming. 30 days to start watching, 24 hours to finish. Transfer to iPod while watching.

9:39 There's crying in the keynote -- not from us, from a nearby baby. Poor kid doesn't like movie rentals, apparently.

9:37 Studios!!! Adding Fox, WB, Paramount, Universal and Sony. Dang. "We have every major studio." All first run films.

9:36 iTunes Movie Rentals! "A better way to provide movies to our customers."

9:36 20 million songs sold on 12/25 on iTunes, 4 B songs total, 125 M TV shows, 7 M movies -- but movies, despite being ahead of everyone else, did not meet expectations.

9:35 Daring Fireball was right about iPod Touch upgrades and the accounting practices.

9:34 What about the iPod touch? Adding Mail, Maps, Stocks, Notes and Weather. Maps will include WiFi location. Webclips too. $20 upgrade! Whoof.

9:32 Chapter navigation for iPhone videos, and subtitle/audio language options. Available today as a free update for all iPhones. [cheering]

9:31 Skyhook Wireless is providing the location data, via WiFi triangulation, and Google handling the cell tower triangulation. Veddy nice.

9:31 Up to nine home screens. Very cool. Jiggly icons are a little disconcerting though.

9:30 Now Steve has a NYT button on the home screen. Sweet! Now it's time to do the wiggle. All the icons are wobbling! Creepy.

9:28 Webclips demo. Go to Safari on iPhone, going to Google to demo new iGoogle UI. Little "+" button on the browser, lets you add to home screen. Now demoing NYT.

9:27 Demo of multi-recipient SMS. Steve says "Hi."

9:26 Directions to Apple Store on iPhone. No indication of where there are ATMs along the route. Pins for maps available.

9:25 Steve is demoing location in Google Maps. "Zhuuup. There we are." Getting directions back to Apple. No, don't leave yet Steve!!

9:25 Scott admits GearLive was right about 1.1.3, offers to buy Andru Edwards a smoothie.

9:23 SDK coming in 'late February.' New features rolling out! Maps with location for iPhone. Webclips. Customize home screens. SMS multiple recipients. Chapters for video. Karaoke mode! (Lyrics displayable)

9:22: in iPhone's first quarter, RIM had 39% share, iPhone had 19.5% share. Sheesh. If you add the share of the next 3 vendors, just about 20%. That's astonishing. "When Dec. quarter numbers come out, we think we'll have done even better."

9:21 2nd product time... iPhone. Wooo. 200 days since iPhone shipped. 4 million iPhones sold. 20,000 a day. That's a lot of bling. Maybe too much. No, not too much.

9:20 Time Machine ad running. That's a lot of Justin Long, maybe too much.

9:19 Steve mistakenly says 500 MB drive, much giggling. $299/$499 for 500GB/1TB Time Capsules, shipping in Feb.

9:18 If you had "Apple ships a NAS" on bingo, you win. Backup wirelessly to one Time Capsule for all the Macs in your house.

9:18 Companion product to Time Machine! Time Capsule -- a backup appliance, an Airport Extreme with an HD.

9:17 Giggles at PC magazine rave for Leopard. Applause for MS Office 2008. "Last big app to go native on Intel."

9:16 We're quoting Walt Mossberg and David Pogue on Leopard. Woo!

9:15 Four things to talk about today. Leopard: 5M copies shipped. Most successful Mac OS X release ever. Almost 20% of installed base has upgraded -- unprecedented.

9:15 "Thank You."

9:14 Steve is here! Something in the air. We're looking back at 2007. "An awesome year for Apple."

9:14 PC & Mac video! 2007 in review. Terrible year for PC. "PC will copy everything Mac did in 2007."

9:13 lights dimming! Or Scott is having some sort of stroke.

9:10 -- VIP and press seating continues. Music is "1234." Boom!

9:08 -- Music is cover of The Smiths "Stop Me If You Think That You've Heard This One Before." A theme is emerging.

9:04 -- Nik reports that the general admission crowd is still working its way into the room. Music: Boulevard of Broken Dreams. Hopefully not an omen.

8:56 -- Seen in line: Dan Lyons, Steven Levy. Follow us on Twitter or join the IRC chat to send questions back to the show!

8:54 PT -- We're inside. Media scrum heading for seats. Coldplay on the PA, crowd shots on the monitors. Here with Scott McNulty, John Gruber, John Moltz and a whole lot of press.

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The action starts here shortly before 9 am PT on Tuesday (12 noon ET) -- don't miss it! You'll want the chance to see how on- or off-base our keynote predictions were.

For instant updates on all our Macworld Expo 2008 coverage, you can follow TUAW on Twitter (fastest way: text "FOLLOW TUAW" to 40404 on your mobile phone), or add our Macworld feed to a Pingie subscription. We'll be talkcasting, vlogging and liveblogging all week long.

We've got a gallery of San Francisco scenes and preshow shots, courtesy Mr. Nik Fletcher & Mr. Chris Ullrich, up for your perusal.

If your reload finger gets sprained on Tuesday, you can use the Firefox Reload Every extension to get the page refreshed periodically.

Join us over at #tuaw on irc.freenode.net to chat in real time. At 4 pm PT/7 pm ET, we'll have a talkcast.

I've got my hot little hands on my copy of Leopard, and I'm about to install it. What better way to spend a rainy Friday night in Philadelphia than installing a new OS and liveblogging it?

Before I did anything I made a bootable backup of my Mac, just in case bad things happen. Mat showed you how to do this earlier. My tool of choice is SuperDuper, but the app doesn't matter as much as the existence of this backup. As a bonus you'll be able to import your settings from this backup if you do a clean install (like I am).

7:07pm: Open disk, toss aside manual, save Apple stickers and slide the disk into my MacBook (2Ghz Core Duo). Start up holding down C.


Find the rest of the updates after the break.

Well, it's here. And here's all the dish on my first hours with the iPod Touch.

Impressions

Feel. Man, this thing definitely has a completely different feel and weight from the iPhone. It feels way way thinner.

Squeeze Control. It seems to be confirmed that the iPhone headset squeeze control does not work with the touch. I'll test when I have time.

Video Out. Does not work with the Belkin dock.

Audio jack. At the bottom!!?? Why?

Didn't work the first time. A lot of people are reporting flaky iTouch behavior. The first time I connected my new iTouch to iTunes, this was the error I got. Removing the USB and reconnecting it made it work.

Calculator. Same as iPhone. Absolutely the most boring accessory ever shipped.

Keyboard. All the sounds on the Touch are clickier and lighter than on the iPhone. It's a very palpable difference.

Safari. Works great--once you remember to switch on WiFi. All my Javascript bookmarklets are working fine.

Clock. There are a *lot* fewer sound effects to play with the built-in alarm, and since there's no speaker, you can only get alarmed through your headphones. No vibrate either. Sounds are: checkmate, jump, time passing, time's up, updown.

Cheerios! Brian Mulllally writes that the icon for the iTouch test mode serial number is, *hee*, a Cheerios box.

Diagnostic Information. I keep saying: "No" and "Don't ask again" but it keeps asking and asking and asking...

Hack after the jump...

Unfortunately, TUAW wasn't able to send any of us to San Francisco today (rumor is that McNulty cleaned out the petty cash to buy an iPhone for himself just so he could play NES), but we've got the next best thing-- like true Apple faithful, we're liveblogging the liveblogs. So stay tuned for updates, live from my apartment here in Chicago, on what's happening at the Apple campus in Cupertino.

If you want to see it straight from the source, we'll be watching Engadget, Mac Rumors, Gizmodo, SlashGear, Mac Observer, Stuff, and Macnews.de. I've also got a tab open refreshing the Apple Store, just in case it goes down-- as of this writing, it is open for business just went down at 12:50pm EST. Sure, you could watch all those sites yourself, but why not settle down on this post and let us do it for you? Think of it as one-stop shopping for all your liveblog news.

The event itself starts in about 10 minutes, and our liveblog kicks off right after the jump. Save the Mini!

We're on the line live for the Apple FY07 Third Quarter earnings call, starting up in just a few minutes at 5pm Eastern. Apple is expected to announce some big numbers, and we should get an idea of what they expect from the iPhone in the next quarter or so. More updates as we post them.

If you want to join in, Apple's got a quicktime link, so hit it and let the big numbers hit your ears at the same time they do us.

5:08pm: Welcome to the conference call. Here we go.

5:10pm: Peter Oppenheimer: record-breaking max sales and continued strong demand for iPod. Net income up 73%, huge numbers overall.

5:11pm: Apple's growth rate more than 2 1/2 times the predicted growth rate for the quarter. Mac notebooks up 42%. 9.8 million iPods, 31% growth over the quarter.

5:12pm: 71.5% share of MP3 players are iPods. iTunes surpassed Amazon and Target.

5:13pm: 270,000 iPhones sold, 146,000 iPhones activated. Some problems during the first week, and we would like to apologize. Since then, AT&T has corrected the cause, and we are experiencing high percentage of problem-free activation.

More after the break.

Live reporting from Mike Rose, our man-on-the-spot, transcribed by Erica back at the TUAW desk. (Sorry about the time! I'm on Mountain Time and Mike is on Eastern.)

3:58. It's a zoo. There are probably two times as many gawkers and press than actual people in line. Mike's TUAW shirt is recognized by a German fan.

3:59. It's officially crazy time. Apple crew members have walked down back stairway to take their positions inside the store.

We've now tucked the rest of the liveblog behind the jump. Thank you for sharing the experience!

Welcome to the TUAW liveblog for Q1 2007 Apple Financial Results. Here's where you'll find all our updates, so open a window with this post and keep refreshing as needed. There is no "auto update" on TUAW so unless you refresh (please be gentle!) the page will not change. The conference call is due to start at 2PM PT/5PM ET.

The conference call is over, and this quarter was good for Apple. Read on for all the details.

Welcome to the TUAW liveblog for Macworld 2007. Here's where you'll find all our updates, so open a window with this post and keep refreshing as needed. There is no "auto update" on TUAW so unless you refresh (please be gentle!) the page will not change.

11:10 PT. John and Steve hug. No "one more thing"

11:05 PT. What we didn't see. Leopard ship date. iWork. iLife. Core 2 Duo mini. Oct-core pro's. Universal Apps. High Def at the iTunes store. Any computer hardware outside the new iPhone. .Mac updates or revisions. Adobe.

11:00 PT. Steve cheers his employees. Points out the engineers, other employees, and their families. And cheers for them. So dang cool! "And we've got a really special treat today." John Mayer alert. Again. Mayer has 5 Grammy nominations this year. (He takes the stage. Starts playing solo. The song might be "Gravity" but David doesn't recognize it.) Mayer: "Steve Jobs and Apple Inc... just make life more fun. Just the opposite of terrorism." Now playing "Waiting on the World to Change."

10:55 PT. The Mobile Market Steve: "We come from different worlds and yet we have worked wonderfully together. We love these guys." And then Steve's "clicker" dies. And a lot of people backstage start scrambling. And cursing. And someone in the audience shouts: "BINGO!" Steve tells a story about his misspent youth with the Woz to pass the time as technicians see their pink slips dance before their eyes. 26 Million game consoles in 2006. 957 mobile phones in 2006. Goal: 1% of market share = 10 million iPhones in 2008. "Today we've added to the Mac, ipod, Apple TV and iPhone. The Mac is the only one you really think of as a computer". So Apple is going to drop "Computer" from their name. Apple is now "Apple Inc." Because they're all grown up and a real company and it's time to discard that childish "computer" thing anyway. "I skate to where the puck is going to be, not where it has been - Wayne Gretsky. This is all presumably part of the deal that they hammered out with Apple Music and the Beatles.