Broadcom Extends Custom Chip Partnership with Apple Through 2031

Broadcom announced on Monday (July 6) that it extended its custom chip partnership agreement with Apple through 2031, with both companies committing to continued development and supply of customized semiconductors. The announcement boosted Broadcom's pre-market stock price by nearly 4%.

Broadcom has long supplied Apple with critical components including RF chips for iPhones, Wi-Fi and Bluetooth connectivity chips, and network communication semiconductors. Analysts estimate Apple accounts for approximately 20% of Broadcom's annual revenue, making it one of its largest customers. The extended partnership reinforces Broadcom's position as a key supplier despite Apple's ongoing efforts to develop proprietary chips, particularly in wireless and RF components where the tech giant remains heavily reliant on Broadcom.