Apple announces deal with Broadcom to produce 5G chips
Apple, the renowned technology giant, made a significant declaration on Tuesday regarding their future. They unveiled a ground-breaking partnership with Broadcom, a leading company in the industry, for a substantial agreement spanning multiple years and involving billions of dollars. The focus of this collaboration is centred around the development and production of state-of-the-art 5G radio frequency components and wireless chips. It is noteworthy that a portion of these advanced 5G components will be manufactured at various locations across the United States, including Broadcom's cutting-edge facility situated in Colorado.
As part of its ongoing commitment to bolster the American economy, Apple has announced additional investments as a part of a recently established agreement. These fresh investments align with the company's ambitious 2021 pledge, where they vowed to inject a staggering $430 billion into the U.S. economy within a span of five years. Apple affirms that it is progressing steadily towards achieving this target by engaging in substantial purchases from American suppliers, making strategic investments in data centres, and actively channeling funds into various capital ventures across the United States.
Apple and Broadcom have fostered a longstanding and fruitful partnership over the years. In a notable development back in 2020, Broadcom made public its commitment through two agreements, entailing the supply of wireless components to Apple, with an impressive total value of $15 billion.
Furthermore, Apple highlights that its existing agreement has played a pivotal role in facilitating the sustenance of over 1,100 employment opportunities at Broadcom's prominent facility in Colorado.
Reference:
www.barrons.com
Russell Shor
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.
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