Needham analyst Alex Henderson attributes the selloff today in shares of Lumentum to comments from Win Semiconductors, the supplier of VCSEL wafers to Lumentum. It has been reported that Win expects VCSEL sales in the second half of 2018 to be less than previously expected and up less than 100% year-over-year, which is being seen as a negative for Lumentum, Henderson tells investors in a research note. The analyst disagrees. He says shipments in Q2 were well above industry demand as the iPhone X demand fell off and Win couldn't slow production to match the market swing. Henderson believes Win's comments reflect its long lead times. He recommends using the selloff today in shares of Lumentum as a buying opportunity. The analyst keeps a Strong Buy rating on the name with an $80 price target.