Apple announces a multiyear deal with Broadcom for chips for iPhone

Apple is announcing a multiyear deal with Broadcom for 5G chips and other components. It was thought that Apple might develop its own chip, but that is not the case.

Broadcom shares are up sharply by 3.9%. Apple shares are trading down -0.54% in premarket trading.

The price of Broadcom moved to new all time highs on Friday and is gapping above those highs in pre-market trading today.

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• Dow industrial average is down -92 points
• S&P index is down 15 points
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is down -56 point