Broadcom Stock Climbs on Report of Apple Chip Deal Extension to 2031
Broadcom Inc. (NASDAQ: AVGO ) shares are trading higher following a report suggesting that the company and Apple Inc. (NASDAQ: AAPL ) will expand their partnership through 2031. The Deal Broadcom has been a long-standing supplier to Apple, providing key components including custom radio frequency chips used in iPhones, Wi-Fi and Bluetooth connectivity chips, and other networking semiconductors. Apple is one of Broadcom’s largest customers, with analysts estimating the iPhone maker accounts for a major chunk of Broadcom’s annual revenue, making it a critical contributor to the chip firm’s semiconductor business. Read Also: Stock Market Today: S&P 500, Dow Jones Futures Gain Following Independence Day Weekend—Int...
Broadcom Inc. (NASDAQ: AVGO ) shares are trading higher following a report suggesting that the company and Apple Inc. (NASDAQ: AAPL ) will expand their partnership through 2031.
The Deal Broadcom has been a long-standing supplier to Apple, providing key components including custom radio frequency chips used in iPhones, Wi-Fi and Bluetooth connectivity chips, and other networking semiconductors.
Apple is one of Broadcom’s largest customers, with analysts estimating the iPhone maker accounts for a major chunk of Broadcom’s annual revenue, making it a critical contributor to the chip firm’s semiconductor business.
Read Also: Stock Market Today: S&P 500, Dow Jones Futures Gain Following Independence Day Weekend—Intel, SanDisk, Tesla, Ford In Focus Broadcom Shares Race Higher AVGO Price Action: At the time of publication, Broadcom shares are trading 4.15% higher at $375.40, according to data Pro.
Image via Shutterstock