Apple Announces $30 billion Multi-year Chip Deal With Broadcom (AVGO)
Yahoo Finance ·
Apple Announces $30 billion Multi-year Chip Deal With Broadcom (AVGO) Catherine Talavera Fri, July 10, 2026 at 2:58 AM EDT 1 min read AVGO AAPL Broadcom Inc. (NASDAQ: AVGO ) is one of the 10 Best Data Center Stocks to Buy in July . On July 8, Apple announced a multi-year chip deal with Broadcom expected to exceed $30 billion, the largest U.S. manufacturing commitment to date, CNBC reported. The agreement covers the production of more than 15 billion U.S.-made chips as well as a $1.5 billion expansion of Broadcom's facility in Fort Collins, Colorado. Reuters reported on July 6 that Broadcom will expand its partnership with Apple through 2031 for the development and supply of custom chips. In other news, TipRanks reported on July 7 that Erste Group analyst Hans Engel downgraded its rating on Broadcom to Hold from Buy, highlighting valuation concerns. Based on 54 analyst ratings compiled by CNN, 93% marked Broadcom Buy while 7% assigned a Hold rating. The stock has an average price target of $525, a 41.59% upside from the current price of $370.78. Broadcom Inc. (NASDAQ:AVGO) is a technology leader that designs, develops, and supplies semiconductors and infrastructure software for global organizations' complex, mission-critical needs. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock . READ NEXT: 10 Best SaaS Stocks to Buy According to Reddit and 10 Best Cybersecurity Stocks to Buy According to Short Sellers . Disclosure: None. Follow Insider Monkey on Google News.
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