I have been writing about Apple Inc. (NASDAQ: AAPL) for the past ten months for AOL's BloggingStocks and have been a bull in every article. The shares have been a home run for investors in this difficult and challenging year. Apple is fast becoming the business school case study right before our very eyes as this company is executing flawlessly. Let's examine what's going on here in the calender fourth quarter -- Apple's fiscal first quarter of fiscal year 2008.

The stock has ranged these past 12 months from a low of $76 to a high of $192. Currently Apple is at $171 and this may be your last chance to buy it below $175. Apple finished its fiscal year 2007 with incredible numbers, margins, and more importantly, momentum, entering the new fiscal year. The new and improved Mac has taken market share and will continue to. The new operating system, Leopard, is enjoying rave reviews and quite frankly has the competition nervous. It should. The Mac sold 2.16 million units in the quarter ending in September, and the December quarter will only see upside to that number.

The revolutionary iPhone is exactly that: revolutionary. It is now the phone of choice from teenagers to the elderly. My two teenage children are only asking for one thing this Christmas -- the iPhone. With the price point down to $399, a whole new generation of buyers has emerged. Also, iPhone is debuting in Europe and Asia, where demand is already high. Apple will recognize iPhone revenues over a 24 month period as it matches the contract length of AT&T (NYSE: T), the service provider. Of course Apple will be reaping a portion of AT&T's monthly iPhone subscription revenue.