Broadcom Corp. (BRCM) stock took off to a 52-week high Monday after the company introduced a graphics-accelerator chip that the company said will enable set-top boxes to show the Web and television at the same time through TV monitors.
The technology will provide high-quality text, graphics and video, Broadcom reported."This breakthrough technology will cost effectively allow consumers to view Internet content directly on their television with quality similar to their PC," said Dr. Henry Nicholas, Broadcom's president and chief executive.
"Additionally, our solution will allow viewers to watch television while they are surfing the Internet, checking email, monitoring additional television channels, or viewing on-screen programming guides."
Broadcom makes integrated circuits for high-speed broadband communications. Shares jumped 6 5/16 to 92 13/16.
Written By Tiare Rath