The executives told Kaufmann Bros that Apple is happy with the results in regions with multiple iPhone carriers, such as Australia. Adding Verizon in 2010 would cause a problem because of the carrier's current dependence on CDMA networking.
The present iPhone is based around the GSM standard, which Apple notes is incompatible with CDMA but the main factor allowing the device to be sold in some 81 countries. It only makes sense to open American sales up, say Boger and Oppenheimer, when both AT&T and Verizon have switched over to LTE. Verizon is only beginning the transition in early 2010, while AT&T estimates a 2011 switchover.
The two also commented on netbooks saying that they were poor computers.