Apple's move will see Broadcom part dropped in 2025 reports Bloomberg

let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2976599" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"6376":"Equities","6408":"Equities","13969":"Equities"};

By Sam Boughedda

Broadcom (NASDAQ:AVGO) shares tumbled just before the close in Monday's session after it was reported that Apple's (NASDAQ:AAPL) move to replace the chips in its devices with homegrown components will mean a key Broadcom part is dropped in 2025.

Bloomberg said people familiar with the matter also told them Apple is aiming to have its first cellular modem chip ready by the end of 2024 or the early part of 2025, meaning it will swap out electronics from Qualcomm (NASDAQ:QCOM) as well.

The move will be a blow to Broadcom, whose biggest customer is Apple, while 22% of Qualcomm's annual sales came from Apple, although the tech giant has already been expected to replace the Qualcomm part, with the company warning for years that its Apple reliance will wane. However, development issues have so far pushed Apple's timeline back.

Broadcom shares closed Monday's session at $576.89, down 1.96%, but initially fell to a low of $570.56 on the news. Qualcomm shares fell 0.6%.

The move by Apple will impact the chip industry, which makes billions through the supply of components to the company. Apple has already removed most Intel (NASDAQ:INTC) processors from its Macs, replacing them with its in-
house chips.

Broadcom makes a component that manages both Wi-Fi and Bluetooth functions on Apple devices, but the iPhone maker is said to be developing an in-house replacement that it is aiming to start using in its devices in 2025, according to Bloomberg sources.

While Broadcom still provides other components, Apple is said to be working on also customizing those parts.