Going long AAPL into earnings was foolish and I recognize that. However this company is still solid and I am standing by it.

If you are concerned about margins… show me another megacap company with a better profit margin.

If you are concerned about iPhone sales… show me a better selling smartphone.

Yes, guidance was disappointing… but perhaps lowering expectations isn’t such a bad thing.

AAPL is still best of breed and tonights numbers haven’t changed anything.

This experience is very reminiscent of another time I had to defend AAPL post earnings… when I wrote this fine post.