Sell-side reports pour in on Apple (AAPL -4.9%): most defend the company, and suggest investors...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Sell-side reports pour in on Apple (AAPL -4.9%): most defend the company, and suggest investors look ahead to the next-gen iPhone and iPad Mini. William Blair notes Apple trades at just 9x its FY13 EPS estimate (exc. cash). Sterne Agee maintains a $780 PT, but is worried the new iPad's retina display is affecting margins. JMP, which maintains a rare Neutral rating, thinks "compelling Android alternatives" are as much of a problem as next-gen iPhone anticipation. (more) (transcript)