So the Iran situation last week shook things up pretty badly. Markets took a hit across the board, but some stocks got hammered way more than they probably should have. Apple dropped over 5% while the broader market was only down around 2.4%. That kind of overreaction is exactly when you should start looking at what's actually solid.

Here's the thing about blue chip stocks - they're built to survive this kind of noise. Both Apple and Williams Companies fall into that category, and I think the recent pullback on both is worth paying attention to.

Let's talk Apple first. Yeah, it's only been public since 1980, but it's basically the definition of a blue chip stock at this point. With $3.85 trillion in market cap, it's the second-largest company globally. The cash position alone is insane - over $35.9 billion sitting there. That's the kind of cushion that lets you sleep at night during market turbulence.

What people are overlooking is how solid the fundamentals actually are. Last quarter they posted $143.8 billion in revenue, up 16% year-over-year. EPS grew 19% to $2.84. The iPhone 17 rollout has been crushing it - 59% of total revenue came from iPhone sales, with growth hitting 23% year-over-year. They're even rolling out more affordable options like the MacBook Neo and iPhone 17e at $599, which could expand their customer base significantly.

Yes, there's been criticism about AI moves being slow, but honestly, maybe that's smart. They're not throwing money at AI hype like everyone else. The company has also been consistent with shareholder returns - 11 consecutive years of dividend increases and $24.7 billion in buybacks just in the first quarter of fiscal 2026.

Now Williams Companies is a different animal entirely. Founded in 1908, it's got serious pedigree. The market cap is smaller at $93 billion, but it's a blue chip in the energy infrastructure space. It handles about one-third of all natural gas consumed in the US through a 33,000-mile pipeline network.

The pullback here was minimal - just 3.3% from Monday's high - but it still feels like an overreaction. Their business model is actually pretty defensive. Long-term, fee-based contracts mean predictable cash flows. Being a midstream player means they're not exposed to oil price swings the way you'd think.

Last year was genuinely strong for them. Adjusted EBITDA jumped 9% to $7.8 billion, total revenue climbed 13.7% to $11.9 billion, and EPS grew 17.5% to $2.14. The stock is already up over 23% this year. They've been on a 13-year streak of EBITDA growth and paid dividends for 52 consecutive years. The dividend is well-covered too - 2.4x coverage from adjusted funds from operations, which gives management room to keep raising it.

What's driving recent strength is the data center buildout. These facilities are increasingly using natural gas power plants, and that's creating real demand. Plus, the cold winter in the eastern US pushed natural gas heating consumption up significantly.

So here's my take: when geopolitical shocks hit and blue chip stocks get sold off indiscriminately, that's usually when you want to be a buyer. Morgan Stanley's research shows that historically, the S&P 500 is typically up around 2% after one month following similar events, 6% after six months, and 8% after a year. Both of these companies have the financial strength to not just survive rough patches but potentially thrive through them. The recent dips look like panic selling, not fundamental deterioration.