JDS Uniphase (JDSU) Could Help Apple (AAPL) Get iTV to Market and Help Itself Along the Way

Speculators are paying close attention to JDS Uniphase (Nasdaq: JDSU) Friday as the company could have landed a whale of a new customer... Apple (Nasdaq: AAPL).

Today, Jefferies' Apple analyst Peter Misek used comments from JDS Uniphase's conference call to help make his case that Apple's full-fledged TV set, iTV, is in full production.

Here is what the company said on its call:

"We also continue to develop new applications for gesture recognition, another adjacency. We recently signed an advanced development contract with a major customer in the home entertainment area. We are collaborating with several others on related commercial applications. This is in addition to ongoing work related to our current customers in the next-gen platform.

As we mentioned on a previous earnings call, we expect new applications for gesture recognition to launch within the next 12 to 18 months.

Misek thinks that "major customer in the home entertainment area" is none other than Apple.

If true this would surely be a boon for JDSU, as Apple is not currently a major client of the company, if at all.

Shares of JDSU are up 1.3 percent to $11.99.

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