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Everyone expected a summer pullback and the market has not disappointed. While no one knows for sure whether we have hit a bottom, it won't be a bad idea to see how some of the leading stocks have performed versus the overall market since April 2012 after reaching their respective highs. This could tell us if some of these stocks have fallen excessively for no real business specific reason.

This article has 5 stocks that we have in our portfolio and all of them are considered true leaders in their industry/sector, except Darden Restaurants (NYSE:DRI).

Apple (NASDAQ:AAPL) has fallen the most at 13% and a lot has been written about this. With Apple's upcoming dividend payment in Q4, an entry right now would give us a 2% yield on the fastest growing company out there. Not a bad bet at all

Coca-Cola (NYSE:KO) has been the "best of the worst" performers. The stock has lost just about 6% and this could possibly because of the stock split news.

Philip Morris (NYSE:PM), a favorite of many dividend and dividend growth investors has fallen enough to almost reach the 4% yield point again. A few more rough days will push the stock below $77 level, a 4% yield entry point.

Darden reached a 52 week high on May 16th due to unusual options activity but the stock has since fallen by 12%. While McDonald's (NYSE:MCD) is undoubtedly the leader when it comes to restaurant stocks, DRI's is a dividend growth stock in its own right and is expected to increase its quarterly payments to at least 48 cents per share, based on its recent dividend growth over the past 4 years.

MCD's has also fallen quite a bit, with recent pullbacks attributed to slowing same stores sales growth. There is no need to go over the great fundamentals of this stock.

The point to be noted is almost all these leading stocks have fallen much more than the general market as shown in the tables below.

As a result of falling stock prices, these names right now have much higher yield than the market average. Apple is the only exception here but it is well known it's not a dividend growth stock yet, although it has all the right ingredients of being one in the near future.

Conclusion and Our Take: We have been adding to these long positions throughout this pullback, while also hedging with some bear funds like Direxion Daily Small Cap (NYSEARCA:TZA). When you see stocks with great fundamentals get knocked down more than the market's average, it is time to back up the truck and load.

Our Top 5 Stocks:

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Disclosure: I am long AAPL, PM, MCD, DRI, KO, TZA.

Source: Bullish On Leading Stocks That Have Fallen Below The Market Average