Shares of (NASDAQ: AAPL) have pulled back significantly since the company's earnings report earlier this month. As of this writing, the stock has fallen a total of about 7% since the quarterly update on Aug. 3.

This decline comes even though Apple returned to earnings growth during the quarter. Is this pullback a red flag or a buying opportunity?

Here's a look at why Apple's earnings report may be better than it appears on the surface, and why the decline in the company's stock price may, indeed, represent a good buying opportunity.

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Source Fool.com