Ordinarily on the Apple Finance Board I would post the above statement as a question. Tonight I'm posting it on Eventide as an emphatic point. The recent pullback in Apple's share price provides an excellent entry point for investors looking for long-term gains.
Nothing about the company's fundamentals has changed and there's been no indications of a softening of demand for Apple's popular products. This quarter (Apple's 1st fiscal quarter) the company will report record revenue and earnings using both GAAP and non-GAAP measures.
The recently refreshed iMac line should push Mac unit sales for the quarter to 3 million units and the iPod touch will buttress Apple's line of digital music players through this economically challenged holiday shopping season. The iPhone is continuing its global roll out and that product is still in an early stage of sales growth.
There may be a variety of reasons for the recent drop in the share price but none of those reasons reflect a change in the company's short-term or long-term prospects for revenue and earnings growth. At today's closing price of $189.27 I consider AAPL at a bargain price relative to this quarter's anticipated performance and ahead of positive changes in share price targets from analysts as we move closer to the end of the quarter and the release of revised revenue and earnings estimates.