India, July 6 -- Broadcom (AVGO) has decided to continue its partnership with Apple (AAPL) all the way through 2031, focusing on the development and supply of custom semiconductor chips.
This move solidifies Broadcom's role as one of Apple's key technology partners. Following this news, investors felt relieved and pushed Broadcom's stock up by over 3%, while Apple saw an increase of more than 1%.
Broadcom is responsible for providing essential components to Apple, which includes radio frequency chips that enable cellular connectivity, Wi-Fi, Bluetooth, and other networking hardware. Analysts say that Apple accounts for roughly 20% of Broadcom's yearly revenue, so this long-term deal is crucial for both companies.
Earlier this year, they ...