Pixelworks stock jumps 40 percent in pre-trading after disclosing Apple relationship
Shares in video processing specialist Pixelworks are up 39 percent in pre-market trading after an SEC filing surfaced revealing that Apple represented more than 10 percent of its revenue, representing a spend by Apple of $5M+.
SeekingAlpha speculates that Apple is seeking assistance from Pixelworks in developing its long-rumored full television set, though the company’s technologies would seem equally applicable to Apple’s existing products, from iPhones to Macs.
It’s unlikely that either company will enlighten us: Pixelworks only disclosed the relationship because publicly-traded companies are legally obliged to reveal major clients, defined as accounting for more than 10 percent of the revenue.
Pixelworks also makes the VueMagic app which allows wireless presentations to be projected from an iPhone or iPad.