Welcome one and all for TUAW's coverage of Apple's First Quarter 2009 Results Conference Call. If you haven't already, you can go start the audio stream available on Apple's website. You'll need QuickTime 6 or 7 installed (Mac users should already have it, and Windows users get it with the iTunes install).

Update: The call has ended. AAPL is up over seven points in after-hours trading.

Click on through to view the transcript!

Citi analyst Richard Gardner repeated the firm's "buy" recommendation for Apple stock, but reduced his estimate through 2011 to "reflect a more conservative view of consumer spending," according to the Associated Press.

Gardner reduced his 12-month price target to $132 from $153. He noted "soft" iPhone shipments in the last quarter of 2008 and conservative guidance for the first quarter of 2009 as reasons behind the cut.

"We view weakness as a buying opportunity," Gardner said. If Apple's stock were to drop by $7 or $8 before the company's Q1 2009 conference call on January 21, "[Citi] would be aggressive buyers." He expects the company will announce a profit of $1.42 per share for Q4 2008 during the call.

AAPL was down by about $1.45 in afternoon trading.

[Via Mac Observer.]

Mark your calendars: Apple plans to conduct its first-quarter conference call on Wednesday, January 21 at 5 p.m. Eastern (2 p.m. Pacific). Apple executives will discuss the company's financial performance over the last quarter, and give their guidance as to how the next quarter is shaping up.

Audio from the conference call will be broadcast via QuickTime. When the time comes, you can visit this page and listen in. (Bonus: Check out the old QuickTime Player screenshot in the "Q1-2009" graphic.)

In Apple's last conference call, CEO Steve Jobs joined in the fun -- a rarity -- to discuss sales, margins, cash reserves, and Apple's competition.

Prepare for plenty of hyperbole and chipper "forward-looking statements" -- as well as dialtone to dialtone coverage from us here at TUAW. Be sure to check back on the 21st.

[Via MacDailyNews.]

I'm listening in on Apple's Q1 conference call, and one fact really jumped out at me. They were discussing the Mac market growth this quarter and remarked that Mac market growth in the US grew 31% in quarter, compared to PC market growth of 3%. These numbers are amazing, people, and if you consider that Apple hasn't really announced any exciting Mac related announcements for awhile, they are even more amazing.

I wonder what these numbers will be like when Apple revamps the Mac line, and ships Leopard.