Apple locks long term Broadcom chip supply deal through 2031
Business
Apple just locked in a long-term deal with Broadcom, so Broadcom will keep making key chips (like Wi-Fi, Bluetooth, and radio-frequency parts) for iPhones and other Apple devices all the way through 2031.
This move helps Apple keep its supply chain steady by teaming up long-term with trusted partners.
Apple about 20% of Broadcom revenue
Apple is a huge reason for Broadcom's success, making up about 20% of its yearly revenue.
News of the extended partnership even gave Broadcom's stock a nice bump.
Even though Apple has been building more tech in-house lately, it still relies on Broadcom for wireless features that keep your iPhone connected, so this deal keeps both companies running strong.