Apple Promises Q4 'Product Transition'

Apple chief financial officer (CFO) Peter Oppenheimer promised a "product transition" for Apple during the current quarter.

Oppenheimer was responding to questions from analysts during Apple's third quarter conference call on Wednesday.

Apple expects US$5.7 billion in revenue in its fourth quarter for earnings per share of "about $0.65," Oppenheimer said.

The company's third quarter attracted revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share.

Analysts had asked him why he was offering such conservative guidance for the fourth quarter. He responded by warning that this "product transition" may impact earnings, but would not elaborate on what this may mean.

The CFO also warned that higher component prices and the cost of promotional offers -- particularly to the education segment -- would also impact against earnings.