Broadcom jumps after Apple chip deal

$AVGO rose about 4% after $AAPL announced a major chip agreement with Broadcom worth around $30 billion.
The deal runs through 2031 and covers custom silicon components plus next-generation wireless connectivity chips used across Apple products.
Broadcom is also set to invest $1.5 billion to expand its Fort Collins, Colorado facility, where it will produce radio frequency and wireless chips for Wi-Fi, Bluetooth, and cellular connectivity.
For $AAPL, the bigger signal is a deeper push into U.S.-based chip supply chains as part of its broader $600 billion U.S. investment pledge.
The news also adds to Apple’s recent preliminary agreement with $INTC, showing a clear attempt to diversify and localize more of its semiconductor sourcing.
The chip sector reacted quickly. $QQQ bounced from its intraday low, while $SNDK and $MU also recovered sharply after recent pressure.
For $AVGO, this deal strengthens the company’s position as both an Apple supplier and a major AI semiconductor beneficiary.