Apple and Broadcom are renewing their vows.
(ticker: AAPL) announced a new multiyear, multibillion-dollar agreement with
(AVGO) to make 5G radio frequency components and wireless chips. Some of the 5G components will be manufactured in several U.S. sites—including Fort Collins, Colo.
“We’re thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing,” Apple CEO Tim Cook said.
In early trading premarket trading Tuesday, Apple stock was down 0.6% to $173.17, while Broadcom stock was up 2% to $692.
Earlier this year, some industry analysts were concerned Broadcom might lose some of Apple’s chip business.
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