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Broadcom shares rose more than 4% in premarket trading on U.S. stock markets. The company and Apple have expanded their technology collaboration to 2031 through a new multi-year agreement.
BlockBeats news: On July 6, according to documents from the U.S. Securities and Exchange Commission, Broadcom (AVGO.O) and Apple (AAPL.O) will expand their technology cooperation to 2031 through a new multi-year agreement. Broadcom will develop and supply a range of custom ASIC silicon products for the manufacturing of multiple generations of Apple products.
Possibly driven by this positive news, Broadcom shares rallied before the U.S. market opened and are currently up more than 4%.