Chambers stated next quarter revenue would be down a mere 1% and he was laying off 5% of the workforce. Afterwards, the stock sold off approximately 10%, shaving somewhere around $10 billion in market capitalization from the company. This was an obvious major overreaction, consequently, a major opportunity now exists. Lost in the noise was the fact that EPS guidance was maintained by Chambers. This isn't the first time it has happened either. Nearly every pullback related to his guidance has been a great buying opportunity. This time will be no different. In the following sections I will perform a current analysis on the stock and lay out my bullish case going forward.