Broadcom Downgraded Despite Major Apple Chip Supply Agreement Extension
Despite a significant extension of its chip supply agreement with Apple through 2031, valued at over $30 billion, Broadcom was downgraded by Erste Group analyst Hans Engel from Buy to Hold. The deal includes production of more than 15 billion U.S.-made chips and a $1.5 billion capital investment in Broadcom's Colorado facility.
Topics: Apple Broadcom chip supply agreement Wall Street analyst downgrade