Sterne Agee's Shaw Wu does his best to defend Apple (AAPL -0.2%) in the face of its recent...

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

Sterne Agee's Shaw Wu does his best to defend Apple (AAPL -0.2%) in the face of its recent selloff. Supply chain checks indicate iPhone 5 demand remains strong and production appears to be improving, though Wu thinks lead times remain fixed at 3-4 weeks. He believes a consensus for 17M-18M FQ4 (Sep. quarter) iPad sales could prove high, but argues there could be upside to FQ1 estimates thanks to the iPad Mini. (Nomura)