Broadcom Downgraded by Erste Group Analyst Despite Major Apple Chip Supply Agreement
Following a significant chip supply agreement with Apple, which includes over $30 billion in commitments and production of more than 15 billion U.S.-made chips through 2031, Broadcom (AVGO) was downgraded from Buy to Hold by Erste Group analyst Hans Engel. The downgrade came despite the positive news potentially boosting AVGO's revenue floor.
Topics: Apple AVGO stock Broadcom chip supply agreement