11:11 A.M.: Cook: "I'm not sure 'store' is the right word anymore (for retail)," he said. "They are the face of the company...people don't think about Cupertino anymore, they think about the local Apple Store."
11:10 A.M.: Cook on retail: "There's no better place to discover, explore, learn about our products," he said. (He calls retail staff the most amazing people on Earth. (I thought the engineers were!)
11:08 A.M.: Cook: "There's only one major country where we're not selling movies ....We've got farther to go in some places, but we've really advanced the ball," he said.
11:07 A.M.: Cook: "Last year, we put enormous energy into expanding our ecosystem geographically (app store, iTunes)," he said.
11: 06 A.M.: Cook: "We're managing Apple for the long term. I know people care about quarters, and we care," he said. "We don't look at the sale of a product as the last part of our relationship with a customer. It's the first..."
11:05 A.M.: Cook on longer term gross margin trajectory: "I don't want to get into projecting margins beyond what we do in conference calls, but you can accept a lower margin on a given product at a given time for many reasons," he said. "But in the background we know the halo effect plays, we have confidence in our ability to work down costs in the supply chain... because we're not a hardware company, we have other ways to make money and reward shareholders."
11:01 A.M.: Cook's first explicit mention of China and Brazil, which he's said before are the two explosive growth markets.
People buying iPads there don't have other Apple products. (Implied: This will draw them into the ecosystem, because that's what's happened before.)
(Read More: Apple Cash Hoard Is Destroying Shareholder Value: Analyst )
11:00 A.M.: Cook on iPad mini: "The first time I got asked about cannibalization was when Apple came out with the iBook, and people were worried that it would cannibalize the PowerBook .... When we came out with the iPad, people worried it would cannibalize the Mac," he said.
(Implied: Don't worry about margins in cannibalization. As he's said before, iPad mini is more likely to eat into the PC market than the iPad or Mac market)
(Read More: Apple Announces New iPad With More Storage )
10:57 A.M.: (Almost all of this is based on ideas Cook has shared before, on earnings calls.)
10:56 A.M.: Cook points out that Black Friday numbers showed customers used iPads and iPhones to shop far more than their Android counterparts.
"I'm not sure what people are doing with these other tablets," he said.
10:55 A.M.: Cook: "We have a significant lead in the tablet app ecosystem ... you can see the tablet app ecosystem," he said.
"I have no idea what market share is, because we're the only company that reports how many units we sell," he said.
10:54 A.M.: Cook: "The tablet market is a huge opportunity for Apple .... There were more iPads sold than HP sold in their entire PC lineup ... we're in the early innings of this game," he said.
There were 12 million tablets sold last year, the projection is that this will triple in four years, he said.
10:51. A.M.: Cook: The customer experience is always broader than that which can be defined by a simple number.
"The only think we'll never do is make a crappy product ... that's the only religion that we have is we must do something great, something bold, something ambitious ..."
10:50 A.M.: Cook: "With displays, some people are focused on size. There are a few other things that are important. OLED displays, the color saturation is awful. You can't depend on the color of an OLED display. The Retina display is twice as bright as an OLED display." (Arguing against a larger iPhone?)