Fourth, this earnings miss was the first since 2004 and the subsequent stock dip will set up an important entry position. Because Apple fundamentals remain intact, this stock will bounce. We will wait patiently for the full opportunity to present itself at which time we plan on raising our AAPL allocations back up to 70% of the portfolio. The holiday quarter will exceed expectations in the same way as the July report. How low will the stock fall? Apple has shown strong resistance at the $370 level but has occasionally dropped into the $350's intraday. Both of those price points should be viewed as buying opportunities. In the grand scheme of things Apple grew iPad sales by 166% year over year and we expect iPhone sales will grow by 100% in the holiday quarter. Even the notoriously conservative Apple guided above street estimates to revenue of $37 billion and EPS of $9.30 in the next quarter. This company is humming and its stock remains the best investment vehicle on Wall Street. We're back in buy mode.