JPMorgan Encourages Investors to Buy Omnivision (OVTI) as it Supplies Apple's (AAPL) iPhone 4S

JPMorgan recommends Buying shares Omnivision (Nasdaq: OVTI) as Apple’s (Nasdaq: AAPL) new iPhone 4S was announced to have a sensor active array of 3264x2448, exactly the same as OVTI's OVTI OVT8830 1st-gen BSI image sensor.

Rumors that Sony (NYSE: SNE) was supplying Apple with its IMX105PQ 8MPx chip have to be false as its chip is 3288x2472. Although neither Sony nor Omnivision have released reports confirming or denying their role in Apple’s supply chain, JPMorgan notes that Apple may introduce another version of the iPhone which may incorporate the Sony sensor chip.

JPMorgan currently has an Overweight rating on shares of OVTI with a $36.50 price target.

Shares of OVTI are trading down 4.4 percent on the day to $16.30.

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