Broadcom Extends Multi-Billion Dollar Chip Supply Agreement with Apple to 2031
AVGO sits 42% above its 52-week low of $262.73.
Summary
Broadcom and Apple have extended their multiyear chip-supply agreement through 2031, continuing a previous multi-billion dollar deal. This extension secures Broadcom's role as a key supplier of custom silicon products for Apple, providing significant long-term revenue visibility. For Apple, it ensures a stable supply of critical components for its devices, which is particularly important given recent increases in chip prices.
At the time of this announcement, AVGO was trading at $374.01 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7T. The 52-week trading range was $262.73 to $495.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.