Broadcom (AVGO) enters two separate multi-year statement of work agreements with Apple (AAPL)

January 23, 2020 4:25 PM EST

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Broadcom (NASDAQ: AVGO) disclosed:

Certain subsidiaries of Broadcom Inc. (the “Company”) have entered into two separate multi-year statement of work agreements (the “2020 SOWs”) with Apple Inc. (“Apple”). Both are for the supply of a range of specified high-performance wireless components and modules to Apple for use in its products. The 2020 SOWs are in addition to the agreement between the Company and Apple entered into on June 9, 2019, which remains in effect with respect to the supply of specified RF components and modules to Apple (the “2019 SOW”). The 2020 SOWs, and the remaining portion of the 2019 SOW, apply to Apple products launched during the three and a half year period beginning in January 2020 (the “Covered Products”). The Company estimates that, based on past experience, and subject to the Company’s ability to satisfy its applicable contractual obligations, the 2020 SOWs and the 2019 SOW could, collectively, generate aggregate total future revenue associated with the Covered Products of approximately $15 billion for the Company.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Hot Corp. News