Apple is notorious for providing extremely conservative guidance to investors. Still, with Mac sales on the rise, iPods doing their thing, and the ability to begin posting revenue from an expected 1 million iPhones in the new quarter don't you think that a guidance of just 65 cents per share (after a record 92) is just a tad, say, absurd? That point was certainly not lost on UBS analyst, Benjamin Reitzes, who kicked off Apple's Q&A yesterday with the following: "You just guided 66 cents and came up with 92. Why should we believe that this 65 cents this time when you've been so conservative? Are you really that worried about component costs or is there something else going on with regard to an upcoming price cut for a product?" Apple's CFO, Peter Oppenheimer, cited the following three factors as the reason: Apple's "expensive" back to school promotion which will run most of the quarter, higher component costs, and most intriguingly, "some product transitions." As Forbes opines, that could translate into the operating costs required to cover a pretty significant product shake-up this fiscal quarter. So don't be surprised when new iMacs, iLife and a touchscreen video iPod are announced in the next few months. And perhaps, if you're really good, you'll see a flash-based 12-inch MacBook Pro and new iPhone version(s) make their way to retail in the quarter ending September 30th -- ok, probably not but you can hope now can't you fanboy?

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Apple CFO hints at possibly big "product transitions" before September