Broadcom Sees $15 Billion in Revenue From Multi-Year Supply Agreements With Apple

Broadcom says future revenue from two new Apple agreements and one signed in 2019 could total $15 billion.
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Broadcom (AVGO) - Get Report said in a regulatory filing that revenue from multi-year supply agreements it has signed with Apple (AAPL) - Get Report could reach $15 billion. 

The company said it had entered two multi-year agreements to supply wireless components to the iPhone maker.

The two “statement of work” agreements, plus one signed last year, could lead to $15 billion in future revenue for Broadcom, according to the filing.

Apple and Broadcom resolved a long-running patent suit last year, leading to the earlier SOW agreement, signed in 2019.

Broadcom shares rose $6.79, or 2.1%, to $326.44 in after-hours trading.

Apple ended Thursday’s regular session up $1.53, or 0.5%, at $319.23. Apple shares edged higher in after-hours trading.

Apple is a holding in Jim Cramer's Action Alerts PLUS investment club.