Broadcom has extended its chip supply agreement with Apple through 2031, continuing to develop custom ASIC chips for multiple generations of Apple products. This long-term partnership, which accounts for about 20% of Broadcom's revenue, includes connectivity and radio frequency components used in devices like iPhones. The deal broadens their collaboration amid rising demand for AI-related silicon, with Broadcom also working with other tech giants on AI chips. The announcement boosted Broadcom shares by 5% and Apple shares by 1%.
The S&P 500 has gained 9.3% year-to-date, with small and microcap stocks outperforming larger companies. Technology sectors lead gains, driven by enthusiasm around AI, while Communication Services lag but may present buying opportunities. Commodities...
Broadcom reported a record Q2 revenue of $22.19 billion, marking a 48% increase year-over-year, fueled by exceptional demand in AI semiconductors. The company projects over 200% year-over-year growth in AI for Q3, with total revenue guidance of $29.4...
In the first half of 2026, the Technology Select Sector SPDR Fund (XLK) led sector gains with a 33% return despite a June pullback due to AI spending concerns and Fed rate hike fears. The Energy sector (XLE) rose 21%, driven by supply disruptions and...
The Invesco NASDAQ 100 ETF (QQQM) offers focused exposure to AI-driven capital expenditure growth, especially among leading U.S. technology companies. It benefits from increasing AI infrastructure investments, with Amazon alone projecting $200 billio...
