Shares of Broadcom (NASDAQ: AVGO) rose on Wednesday following a significant supply agreement with Apple (NASDAQ: AAPL), valued at over $30 billion. This multiyear deal aims to produce more than 15 billion U.S.-made chips for various Apple products, enhancing the companies’ commitment to domestic manufacturing.
As part of the agreement, Apple plans to invest $600 billion in the U.S. by 2030, while Broadcom will expand its manufacturing facilities in Fort Collins, Colorado. This collaboration is designed to help Apple diversify its supply chain and lessen its dependency on geopolitically sensitive regions.
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