Sterne Agee Comments on Possible iPad Mini

Sterne Agee has published a research report on Apple AAPL commenting on the potential for the iPad mini. In the report, Sterne Agee writes, "Recent press reports out of the Asia-Pacific have pointed to development of an iPad mini, or smaller form factor iPad. Many investors have asked our take. From our supply chain work, we have come across evidence of such a device since 2009 and we believe it makes strategic sense for AAPL to expand its iPad family. AAPL remains a top pick and we would take advantage of recent share weakness." Sterne Agee maintains its Buy rating and $750 price target on Apple, which closed yesterday at $580.13.