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AAPL Stock: 108 ( + 1.02 )

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Pixelworks reveals Apple as major client, sees stock surge

updated 12:07 pm EST, Thu March 6, 2014

May be supplying tech related to Retina displays

A company specializing in image processing semiconductors and software, Pixelworks, has revealed itself as an official Apple supplier through a new filing with the SEC. In 2013 Apple is said to have accounted for more than 10 percent of Pixelworks revenue. The news has sent the latter company's share price surging, boosting it by about 53 to 54 percent in Thursday trading, or more than $2.58 per share.

What exactly Pixelworks is producing for Apple is unknown. The technology could be related to Retina displays, which are now in every major Apple product line except for the iMac and MacBook Air. Other major Pixelworks clients include NEC and Hitachi; some past customers have included Panasonic and Seiko Epson. In total, the company's top five customers provided 57 percent of its 2013 revenue.




by MacNN Staff

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Comments

  1. And.reg

    Mac Elite

    Joined: 02-22-04

    ...and once the news dies out I'm sure the stock value will pixelate away again...

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