Apple announces multi-billion dollar deal with Broadcom for chips made in the US
$AAPL today announced a new multi-billion dollar deal with Broadcom to develop 5G radio frequency components in the U.S.
"We are thrilled to make commitments that combine the ingenuity, creativity and innovative spirit of American manufacturing," Apple CEO Tim Cook said in a release.
Shares of $AVGO Broadcom were up around 3%. Shares of Apple were down less than 1%.
The 5G radio components developed by Broadcom, a technology and advanced manufacturing company, will include FBAR filters and other wireless components, according to the report. These components are different from the 5G modems produced by Qualcomm.
Apple said its deal with Broadcom is part of its commitment to invest $430 billion in the U.S. economy by 2021. The deal marks the latest stage of the partnership between the two companies, as Broadcom announced it will sell $15 billion worth of wireless components to Apple in 2020.
The company said the deal with Broadcom will also allow it to invest in "critical automation and upskilling projects" with engineers and other technicians. Apple already supports more than 1,100 jobs at Broadcom's FBAR filter manufacturing plant in Fort Collins, according to the report.
I'm all for it! Seeing that Apple delivers what it promises. :)
Great collaboration in the US, I hadn't heard of $AVGO. What is $QCOM doing for them now ? He's at pretty nice prices too.
I like that, the money is not flowing out of the US and the moral image of the company will improve a bit.
I like it too and why not, so they invest something in the US. I think their products are quality, it's just a brand, a symbol already among the young and in the US, really everyone has it. Yes, sometimes they do stupid stuff too, but who doesn't. So I'm sure it's only good. :)
I also read about it today, thumbs up for me. The collaboration between these two giants is welcome and Apple is making good on its word to invest billions of dollars in the US.
Like I think it's a shame that maybe "we have to invest at home" politics are mixed in, but if it meets the quality, why not
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Unstoppable 😎