By Will Feuer

Apple said it has struck a multiyear, multibillion-dollar deal with chip and network equipment maker Broadcom for components that will be made in the U.S.

As part of the deal, Broadcom will supply Apple with 5G radio frequency components and wireless connectivity components, Apple said. The 5G radio frequency components will be built in several manufacturing hubs around the U.S., including in Fort Collins, Colo.

"We'll continue to deepen our investments in the U.S. economy because we have an unshakable belief in America's future," Apple Chief Executive Tim Cook said.

In a securities filing, Broadcom said it has entered into two multiyear statements of work with Apple.

Shares of Broadcom rose 3% to $698.60 in premarket trading.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

May 23, 2023 09:32 ET (13:32 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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