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Video Display Processing Firm Pixelworks Stock Surges After Revealing Relationship With Apple

Video Display Processing Firm Pixelworks Stock Surges After Revealing Relationship With Apple

Shares of video and pixel processing semiconductors and software maker Pixelworks jumped more than 30% in premarket trading on Thursday, following the company’s revelation that Apple represented more than 10% of its revenue in 2013.

Pixelworks_logo

AppleInsider:

It’s unknown exactly what Apple has purchased from Pixelworks, but the company makes video and pixel processing semiconductors and software, benefitting from high-resolution screens like Apple’s Retina displays. Pixelworks says it delivers its technology as IP cores, semiconductors, software and custom ASIC solutions, allowing its customers to “deliver the highest video quality in a multitude of applications and form factors.”

Pixelworks is involved in tablets, smartphones, and ultraportable notebooks, as well as large flat panel displays and digital projectors.

Pixelworks’ dealing with Apple were disclosed on Wednesday in its official filing with the U.S. Securities and Exchange Commission. The filing was discovered by Mark Gomes of PTT Research.

Pixelworks also includes NEC and Hitachi as major customers, each responsible for more than 10% of Pixelworks’ revenue.

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