Pixelworks Surges Over 50% After Revealing Relationship With Apple

wochit technology
March 06, 2014 AT 8:17 AM
From televisions to tablets, the world is going high definition — and companies that produce the technology to enable ever smaller and higher-def packages are going to profit.That’s the operating thesis under which investors are snapping up HD processing company Pixelworks. The stock is up over 50% on Thursday morning after it revealed in its annual report that it has a large relationship with Apple. While relationships with the world’s largest computer company are usually kept quiet, Pixelworks had no choice but to reveal that it relied on Apple for more than 10% of its revenues in 2013.