1.  iPhone 2 hits the first tranche of countries on July 11.  Lines, lines and more lines.  Lots of press, both positive and FUDdy.

2.  The AppStore opens on July 11, bringing a whole new wealth of capabilities to both iPhone 1 and iPhone 2.  The positives are easy to see, I suspect that the negatives will be “Apple is too controlling” and “$10 is too much to pay for software that should be free.”

3.  Apple will report the results of the fiscal 3rd quarter sometime around the middle of July.  Mac sales will be high, and that will drive high revenues and profits (but few will care - all eyes will be on whether the company discloses how many iPhones were sold in the initial week).  The company will likely NOT disclose how many iPhones were sold in the initial week, but will say something like “we are thrilled” and “the demand for the iPhone blew us away.”

4.  iPhone 2 will hit the second tarnche of countries later in the summer / early fall.  By then, it will be clear that iPhone 2 is a runaway best-seller.

5.  Back-to-school sales of macs, iPods and iPhones will drive the biggest quarter even in the fiscal 4th quarter.

6.  The record sales and profits in the 4th quarter will be smashed in the fiscal 1st quarter due to Christmas sales.

Notice that I did not mention anything about new macs or iPods being introduced.  Nothing about music or video downloads.  Nothing about capabilities being added to aTV.  Nothing about new products.  Any of those things happening (and I expect that most, if not all, of them will happen) will be additional growth drivers.

I see now as a time every bit as exciting as any time in the entire history of Apple.

I will not be selling any of my shares at least until after the July conference call - and probably not until after the January 2009 earnings call.