The transcript at the Wall Street Journal is extensive, and makes for great reading. Here are some of our favorite bits:

On whether Apple is too frugal:

My definition of a depression-era mentality wouldn’t be of a company investing a pair of tens over two years. [“tens” refers to $10 billion.]

On Einhorn’s lawsuit and Apple’s Proposal 2:

You’re not gonna see us do campaign mailing, you’re not gonna see a “yes on 2” in my front yard. This is a waste of shareholder money, it’s a distraction, and it’s not a seminal issue for Apple.

On innovation:

If there was a formula, a lot of companies would have bought their ability to innovate…

Consumers want an elegant experience where the technology flows to the background

These skills, this isn’t something you can just go write a check for. This is decades of experience

On specs:

Do you know the speed of an AX processor? You probably don’t. Does it matter? You want a fantastic experience

On iPad market share:

I have no idea what market share is, we’re the only company that really reports the units we sell.

On cannibalization:

I think if a company ever begins to use cannibalization as a primary or even a major factor of what products to go to, it’s the beginning of the end.

On iPad Mini:

I think this is gonna be the mother of all markets.

On the value of Apple Stores:

The tablet was ingrained in their mind as this heavy thing the Hertz guy held. But our store is the place to go and discover and try it out and see what it can do.

On being a good corporate citizen:

I’m very proud that we’re out front, that we have a spine on supply responsibility.