Benzinga - Broadcom (NASDAQ:AVGO) Inc (NASDAQ: AVGO) shares are trading lower by 3.91% to $554.32 Tuesday morning following a report indicating Apple (NASDAQ:AAPL) 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
According to data from Benzinga Pro, AVGO has a 52-week high of $645.31 and a 52-week low of $415.07.
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