On July 6, Broadcom (AVGO.O) announced an agreement with Apple (AAPL.O) to extend their partnership to 2031, during which they will jointly develop and supply a range of custom chips. Broadcom has been a key component supplier to Apple, providing network semiconductors such as custom RF chips, Wi-Fi, and Bluetooth connectivity chips required for iPhones. As one of Broadcom's largest customers, Apple significantly contributes to its annual revenue and serves as a crucial pillar of Broadcom's semiconductor business.