The market is down over 3% today. Once again investors are fleeing stocks in droves.  This time the main reason is weak earnings.

Corporations are reporting results in droves.  The news is not all that bad on the surface considering the economic conditions.  That being said, the market is focused on the future and there guidance has been disappointing.

To the extent you even get guidance, almost every company reporting earnings is including statements that the economy is bad and that business will suffer as a result.  It is no surprise as the negativity in the markets allows corporations to visit the confessional without having to suffer the consequences.

Imagine making such statements during a stronger economy or positive market environment?  These companies would be crushed with such negativity.  Instead pervasive negativity allows companies to set the bar low for the future.

Doing so is a wise strategy during an economic downturn.  It is also a bit of a cop-out for management that should be expected to perform irrespective of the operating environment.

For investors in this market, it is incredibly important to find companies that can swim against the tide.  There is simply too much risk for more downside corrections.  Are there companies that you must own irrespective of the operating environment?

I would say there is one:  Apple, Inc. (AAPL)…