Apple Signs Multibillion-Dollar Deal With Broadcom for 5G Parts

Apple Inc. signed a new multiyear, multibillion-dollar deal with Broadcom Inc. to develop 5G radio frequency components.

(Bloomberg) — Apple Inc. signed a new multiyear, multibillion-dollar deal with Broadcom Inc. to develop 5G radio frequency components.

The collaboration will include wireless connectivity components, Apple said in a statement on Tuesday. The components will be designed and built in several US manufacturing hubs including Fort Collins, Colorado, where Broadcom has a major facility.

Apple already helps support more than 1,000 jobs in Fort Collins, and the partnership will enable Broadcom to continue to invest in automation projects, Apple said.

The iPhone maker is spending tens of billions of dollars to develop 5G technology in the US. These investments are part of the commitment Apple made in 2021 to invest $430 billion in the US economy over the next five years. Apple said it’s on pace to meet its target.

Qualcomm Inc. shares fell 2% after the news. Broadcom rose about 3%.

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