Broadcom Inc AVGO shares are trading lower by 3.91% to $554.32 Tuesday morning following a report indicating Apple is planning to replace a chip supplied by the company in its devices.
What's Going On?
Apple is planning to replace a key part supplied by Broadcom with an in-house component, Bloomberg reported, citing people familiar with the matter.
Broadcom supplies Apple with a combined component that handles Wi-Fi and Bluetooth functions on its hardware products. Cupertino is now reportedly developing a chip to replace this component by 2025...Read More
See Also: What's Going On With Boeing Stock Today?
According to data from Benzinga Pro, AVGO has a 52-week high of $645.31 and a 52-week low of $415.07.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
