Apple (NASDAQ: AAPL) posted excellent results for its fiscal first quarter ended December 31. Wall Street consensus was $1.55-1.60, quite a range, and Apple reported earnings of $1.76 on revenue of $9.61 billion. The "whisper" numbers were all over the board with the highest I heard of calling for earnings of $2 on revenue of $10 billion.

While Apple hit excellent numbers, especially viewed on a year-over-year basis, up 57%, the guidance for the seasonally slower March quarter was tempered down by the company. The Street expected earnings of $1.09 and Apple guided to 94 cents to 95 cents and revenue of $6.8 billion versus Street expectations of $6.99 billion.

I had the chance to speak with four different portfolio managers about their strategy for Apple. Two are keeping their positions and will add at the $140+ level. One is buying immediately as he views the Apple guidance as a shrewd move as the shares were down to the $1.55 level anyways, so why not let the steam out of the story. Apple had nothing to gain by stretching to make the March number of $1.09. If the $1.09 guidance had been maintained, that means that Apple would have to hit $1.15 to $1.16 to keep the Street happy. He thinks the strategy is brilliant.