Broadcom to become Apple supplier

The American manufacturer of integrated circuits for communication devices Broadcom announced a two-year contract with Apple. The company will supply the manufacturer of the iPhone certain radio frequency (RF) components and modules for smartphones, tablets and smartwatches.
In a statement to the Securities Commission (SEC), Broadcom noted that it would maintain and allocate sufficient production capacity and other resources to produce the products provided for in the contract.
Shares Broadcom immediately after the announcement of a two-year contract with Apple soared by almost 6%. But then the growth of the papers faded away.
Nevertheless, most Wall Street industry experts expect further growth from Broadcom shares in the coming year.
JPMorgan analysts say Broadcom is the leader in wireless networking, data centre networking, software and hardware. Leadership in the company's industry ensures its large scale and technological capabilities, analysts say. By December 2019, JPMorgan is waiting for the growth of quotations to $365. According to their calculations, Broadcom's annual profit for 2019 will be $24.5 per share.

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