Broadcom, Apple Extend Chip Supply Deal Through 2031
The new multi-year agreement could lock in more than $30 billion in U.S.-made chips and expand Broadcom’s Fort Collins facility, Apple said.
- On Monday, Broadcom agreed to expand its partnership with Apple through 2031 to develop and supply custom chips, sending Broadcom shares up nearly 4% in premarket trading.
- Apple accounts for about 20% of Broadcom's annual revenue, relying on the firm for key wireless connectivity and radio frequency components that reinforce its multi-year supply strategy.
- Advanced Micro Devices stock rose 10% and Intel shares gained 5% alongside the announcement, though analysts warn the sector remains volatile following last week's slide.
- Broadcom CEO Hock Tan projects AI semiconductor revenue will hit $16 billion in the third quarter, representing growth of over 200 percent year-over-year.
- Cantor Fitzgerald lifted its Broadcom target to $700 while Wells Fargo raised its AMD price target to $615, though analysts caution valuations appear stretched after the sector's substantial gains.
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53 Articles
(San Francisco = Yonhap News) Correspondent Kwon Young-jeon = Amid reports that Apple and Broadcom have extended their ASIC partnership, Apple [will use] this to ...
Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
SAN FRANCISCO, July 8 : Apple plans to spend more than $30 billion as part of a chip-supply agreement reached earlier this week with Broadcom that will also see the chipmaker expand a factory in Colorado, the companies said on Wednesday.Broadcom disclosed on Monday it had secured a long-term supply deal throu
Broadcom agrees new deal to make custom chips for Apple to 2031
Apple extends Broadcom partnership to supply chips until at least 2031Development for next-generation C2 modem could still be underwayBroadcom and Apple investors are happy as shares riseApple has extended its partnership with Broadcom to supply it with chips until 2031, signing new agreements covering chip development and supply for upcoming generations of the company's own silicon.Broadcom remains a key supplier of radio (RF) chips, Wi-Fi chip…
Broadcom and Apple extend custom silicon pact to 2031
Broadcom has signed a deal to provide Apple with custom chips until 2031. The chips and code shop has supplied Apple with silicon since the late 2000s when its wireless products found a home in early iPhone models. Broadcom’s silicon has found its way into iThings ever since. Broadcom’s announcement of its extended relationship with Cupertino is brief, stating only that the two companies “have agreed to expand their long-standing technology coll…
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