Apple and Broadcom agree on a big-money deal for making chips in the United States.

apple stock tim cook news
image by AI
Apple has made a big announcement on Tuesday. They have signed a new deal worth billions of dollars with a company called Broadcom. The purpose of this deal is to work together on developing components for 5G wireless technology in the United States.

Apple’s CEO, Tim Cook, expressed excitement about the deal, saying that it will tap into the creativity and innovation of American manufacturing. As a result of this news, shares of Broadcom went up by about 3% while Apple’s shares went down slightly.
The components that Broadcom will develop include things like FBAR filters and other wireless connectivity parts. It’s important to note that these components are different from the 5G modems made by Qualcomm.
Apple stated that this deal with Broadcom is part of their commitment to invest $430 billion in the U.S. economy, which they announced in 2021. This partnership with Broadcom is an extension of their previous collaboration, as Broadcom had sold $15 billion worth of wireless components to Apple in 2020.
Additionally, Apple mentioned that this deal will allow them to invest in automation projects and provide training for engineers and technicians. They already support over 1,100 jobs at Broadcom’s Fort Collins FBAR filter manufacturing facility.

>>Related  Dow Jones Futures Fall Slightly As Treasury Yields Rise; Nvidia, Microsoft, Tesla Near Buy Points

You May Also Like

Related Posts