Broadcom extended its agreement to supply Apple with custom chips through 2031. The multi-year deal covers 5G radio frequency components and wireless hardware for Wi-Fi and Bluetooth.
Apple accounts for approximately 20% of Broadcom’s annual revenue. This agreement secures a long-term revenue stream for Broadcom from its largest customer.
The deal reinforces Apple's strategy to stabilize its supply chain for high-volume products like the iPhone. Broadcom shares rose nearly 4% in premarket trading following the news.