On May 23rd, Apple announced a multibillion-dollar deal with Broadcom to develop 5G radio frequency and “cutting edge” wireless connectivity components. Working together is nothing new for them. Apple and Broadcom have already combined forces a number of times in recent years.
The companies have worked together for other related collaborations in Broadcom’s Fort Collins FBAR filter manufacturing facility since Broadcom announced it would be selling $15 billion worth of wireless components to Apple in 2020. Not long after, Apple committed to investing $430 billion in the U.S. economy back in 2021.
“We’re thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing,” said Apple’s CEO Tim Cook. “All of Apple’s products depend on technology engineered and built here in the United States, and we’ll continue to deepen our investments in the U.S. economy because we have an unshakable belief in America’s future.”
The companies will spread out the designing and construction of FBAR filters throughout multiple key U.S. manufacturing and technological hubs. This new deal will fuel further investments in critical automation projects and “upskilling” team members.
Apple reports it will be spending “tens of billions of dollars” to further the development of 5G technology since its introduction in 2020 and is “on pace to meet its target through direct spend with American suppliers, data center investments, capital expenditures in the U.S., and other domestic spends.”
The new deal builds on the original deals as the companies work together to create new technological developments and debut new products for consumers.
After announcing this deal last Tuesday, Broadcom shares “closed up at 1 percent” while “Apple’s stock closed down 1 percent.”
Check back with Cord Cutters News for more information as the partnership blossoms, creating new innovations and hopefully new jobs in an increasingly competitive industry.