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OK, just for the sake of a brief review, let's take a look back last week:

1) 28.27 billion vs 20.34 billion in revenue

2) 6.62 billion (7.05 diluted) vs 4.31 billion (4.64 diluted) in net profits

3) 21% growth in iPhone sales

4) 26% growth in Macs

5) 27% decrease in iPod sales which has been expected anyway

Apple (NASDAQ:AAPL) is ALSO stating that it expects a huge 1st quarter of approximately 37 billion in sales and a diluted net profit of 9.30 (well ahead of Street expectations).

Refer to Apple's press release for all the details.

On October 18th 2011, the share price was 422/share.

On October 25th 2011, the share price was 397/share.

Does anyone truly believe that Apple had a "bad" quarter? I mean seriously, it missed estimates by a pinch, and it got hammered, recovered and has gotten hammered once again, all within the space of one week.

Steve Jobs' passing, as untimely as it was, has been baked into the share price for quite some time in my opinion....I mean how long has it been since he really was actively hands on?

His real forte was salesmanship and excitement, not technology, and quite frankly, Apple is so far ahead of the pack in technology that I dare you to name ONE company that can come close to everything Apple has currently....and obviously, as of now, what it has in the pipeline.

Apple TV

It has been rumored for quite some time. More of a vision than a reality. Well lo and behold, it is no longer a rumor, it is real, and it is happening NOW, as I typed this (probably even faster). Read this from the Washington Post. I blinked a few times when I read this and the Bloomberg article written by Adam Satariano.

Release in 2012/13? NOW I know how it will have a MONSTER year, next year and the year after and so forth.

Holy Moly cowboy, did we really think that the Apple was down to its core already? The Apple TV will incorporate everything that Apple has right now, and use the Siri technology to search for videos and iCloud to store content.

Jobs himself, in his just released autobiography, declared "war" on Google (NASDAQ:GOOG). Why should we doubt him now? Apple would have both the hardware and the software already. Do ya think Google will be able to compete on an Apple level? It hasn't with the smartphones, has i?

According to the reports previously mentioned, sales of a TV could plunk 6 billion into revenue by 2014, just for this product alone. The reports have said that it is already looking for content. Apple corporate has NOT acknowledged any of this and refused comment according to the Bloomberg article...hmmm.

OK, enough of my ranting and raving, what am I saying here? I believe that APPLE is the next big thing, and taking a healthy bite of it for your portfolio makes enormous sense right now at these on sale prices.

Source: Apple TV: The Next Really Big Thing