“Reflecting on the fourth-quarter warning yesterday by Corning about a shortfall in glass demand for LCD displays, UBS’s Maynard Um this morning writes that it likely wasn’t because of any problem with demand for Apple’s iPad,” Tiernan Ray reports for Barron’s.

“Apple last year probably was about 80% of Corning’s total demand for its ‘Gorilla Glass,’ which is used heavily to reinforce smartphone and tablet screens,” Ray reports. “That may have dropped to 50% this year, perhaps because of the new non-iPad devices, perhaps because of inventory build-up.”

Ray reports, “In any event, Corning’s shortfall is ‘likely more related to weaker non-iPad demand, AAPL lesser degree’ …Um writes he’s still comfortable with his 12 million-unit estimate for the iPad this quarter.”

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