Apple Inc. (AAPL): Do You Have the Stomach to Start Buying?

When Apple Inc. (NASDAQ:AAPL) announces its quarterly earnings on Tuesday, the results might further depress its already shell-shocked shareholders.

Apple Inc. (AAPL)Even an Apple Inc. (NASDAQ:AAPL) bull such as Gene Munster, the Piper Jaffray analyst, told investors last month that he has begun bracing for a rough pronouncement. This week, as he sees it, there probably won’t be a major Apple Inc. (NASDAQ:AAPL) product announcement. You know — the sort of declaration that tends to set Wall Street drooling and exclaiming, “Ka-ching!” He anticipates revenues of about $41 billion, approximating the low end of the company’s guidance of $41 billion to $43 billion and below Wall Street’s projection of roughly $42.8 billion, as noted by Thomson Reuters.

Further, Munster expects iPhone sales of $35.5 million and Mac sales of 3.8 million, well under the 37 million for iPhones and the 4.2 million for Macs that many have been expecting to see for the three-month period. There’s more jolting news, to be sure, but I can see that you’re already unnerved.

As CNNMoney put it: “All in all, it’s a pretty pessimistic outlook from one of Apple Inc. (NASDAQ:AAPL)’s most loyal and enthusiastic supporters.”

And you know what my answer is? Don’t worry, Apple Inc. (NASDAQ:AAPL) Nation. Come back from the ledge.

It’s all going to be OK — if you have the strong stomach and the Herculean patience to wait out this slump. But do you?

Much was made recently both in the media and on Wall Street when Apple Inc. (NASDAQ:AAPL)’s widely followed stock continued its descent and dipped below the $400 threshold. There was such incredulity and nervousness that you’d have thought instead that Apple had to contend with reports of frogs crawling out of Macs or kryptonite dripping out of iPhones.

Me? Call me crazy — it wouldn’t be the first time — but I detect a buying opportunity at work here. It’s not merely a cranky contrarian’s call of buying on the dips. Nor am I a technical analyst who can point to historic drops that have been followed by sharp rises.

I believe this because Apple will ultimately rebound on the wings of expected product news later this year. Apple’s customers have been known to be very loyal to their array of “i” wares.

True, competitors have proven that Apple is hardly the only game in town anymore. Nor is Apple the coolest kid on the block, in the eyes of skeptics who are smarting from those Siri commercials. Apple all but promised us that Siri, Apple’s voice-activated help desk, would not only coo the time of day in Jakarta and the capital of Alaska, but rush right over and clean your house as well.