Apple Image:Image by Daniel Heilig from Pixabay
Apple Inc. had made a commitment in 2021 to invest $430 billion in the U.S. economy. On Tuesday, the tech giant announced a multi-billion-dollar, multi-year deal with U.S. chipmaker Broadcom. The company will develop 5G radio frequency components in the nation. Shares of Broadcom rose by almost 2 percent on Tuesday morning while Apple’s shares fell by less than 1 percent.
In a company press release, Apple CEO Tim Cook said that they were “thrilled to make commitments that harness the ingenuity, creativity, and innovative spirit of American manufacturing.”
He added, “All of Apple’s products depend on technology engineered and built” in the U.S. and that the company would invest more in the economy of the U.S. as they “have an unshakable belief in America’s future.”
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The release also said that the tech giant is spending tens of billions of dollars in developing 5G in the nation as this technology would shape the future of consumer electronics in the next generation.
Apple introduced 5G technology in its devices from 2020. It has been encouraging innovation as well as job growth in companies that provide infrastructure as well as innovation for 5G.
Broadcom is a technology and manufacturing company. The release said that the chipmaker will develop FBAR filters and several wireless components. These components are not similar to the 5G modems that are made by tech giant Qualcomm.
Broadcom and Apple have a business relationship that began in 2020 when Broadcom said that it would sell wireless components worth $15 billion to the Cupertino giant. The tech giant has also supported over a thousand jobs in Fort Collins, Colorado where Broadcom’s facility manufactures FBAR filters.
The new deal by Apple with Broadcom will increase the number of manufacturing and technology hubs across America. This investment will include expanding the designing and building FBAR filters across these hubs.
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