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Piper says Apple likely ramping as InvenSense customer

Piper Jaffray believes InvenSense (INVN) has an elevated level of design activity in Apple's (AAPL) new operating system as Apple ramps as one of the company's customers. The firm says it has confidence in its June quarter estimates for InvenSense and that the September quarter will be an inflection point for revenue. Piper keeps an Overweight rating on the stock with a $27 price target.