Apple missed earnings and the stock fell 4% based on concern that iPhone sales were slowing and revenue was weaker than expected. To some, this means that the profit trajectory for this company is irrevocably changed and further growth will likely be negatively impacted on an ongoing basis. To us however, the 4% drop on Wednesday provided us an opportunity to add to our position.
Investor panic and euphoria is an amazing thing. Take the example of Apple and investor's perspectives on yesterday's earnings report. There is no better example of investor tendencies to react emotionally that the recent angst regarding recent Apple share price movement.