: Apple strikes deal with Broadcom, sending stock higher


Apple Inc. AAPL, -1.25% said Tuesday that it’s reached a “multiyear, multibillion-dollar agreement” with Broadcom Inc. AVGO, +1.99% through which Broadcom will develop 5G radio frequency components. Broadcom shares were up more than 3% in premarket trading Tuesday. The components include FBAR filters, which will be designed and made in a number of U.S. cities, including Fort Collins, Colo. Apple Chief Executive Tim Cook said in a release that the arrangement is a continuation of the smartphone giant’s pledge to invest hundreds of billions of dollars in the U.S. economy over a five-year span that began in 2021. Apple will “continue to deepen our investments in the U.S. economy,” he noted.

This article was originally published by Marketwatch.com. Read the original article here.

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