Broadcom NASDAQ:AVGO said on Monday that the chipmaker and Apple NASDAQ:AAPL have agreed to expand their partnership through 2031 to develop and supply a range of custom chips.
Broadcom has been a long-standing supplier to Apple, providing key components, including custom radio frequency chips used in iPhones, Wi-Fi and Bluetooth connectivity chips, and other networking semiconductors.
Apple is one of Broadcom's largest customers. Analysts estimate the iPhone maker accounts for a major chunk of Broadcom's annual revenue, making it a critical contributor to the chip firm's semiconductor business.