Apple, Inc. (NASDAQ:AAPL) is announcing its earnings for Q1 2007 today at 5:00p.m. Eastern time. I'm going to be right here to go ahead and blog that live for all you bloggingstocks.com readers.

With Apple stock hovering just under hundred dollars a share, it should be interesting to see what effect this current earnings report will have on the stock's price. Analysts, as well as Apple's enthusiasts, seem to be betting that Apple will outperform analyst expectations this quarter. In a previous post about Apple's upcoming earnings, 86% of you voted that Apple would beat earnings. If this happens, will the stock price jump up, or has what ever news that's coming out already been factored in?

4:33: If you'd like to listen along with us, the webcast link is up at Apple here.

4:45: Cheerful muzak on my computer speakers makes the day brighter... or not. I guess it beats silence.

4:57: Close to launch time. You might be wondering how Apple did this year. If so Switch to a Mac has some pretty graphs on unit sales that might interest you as you wait. They bear out the buzz about Apple performaning better than expected. We'll start finding out in a few minutes, however.

5:05: An operator just told us all to standby, but that we were still on hold.

5:05: Nancy, head of financial relations is on introducing Peter Oppenheimer. The summary of results is up already here.

It's another stellar quarter, a record quarter, says Peter Oppenheimer. Strong iPod sales and robust demand for Macs, up year over year. Record net quarterly profit of $1 billion. Revenue of 7.1 billion.

Mac products and services were 33% of total revenue. Apple shipped 1.6 million Macs.