Mon Dec 16 16:10:15 UTC 2024: ## Broadcom Stock Takes Hit on Apple’s Plan to Replace Its Chips
**NEW YORK –** Shares of Broadcom (NASDAQ: AVGO) fell over 1% Thursday following a Bloomberg report that Apple (NASDAQ: AAPL) plans to replace some of Broadcom’s chips with its own internally designed Proxima chip starting in 2025. The decline outpaced the broader market, which saw the S&P 500 dip by 0.5%.
According to Bloomberg, citing unnamed sources, Apple’s Proxima chip will handle Bluetooth and Wi-Fi connectivity in iPhones, iPads, and other Apple devices. This new chip will be manufactured by Taiwan Semiconductor Manufacturing, the world’s leading contract chip maker. The move represents a significant shift for Apple, which currently relies on Broadcom for several key components. The impact on Broadcom’s future revenue remains to be seen.
First Piper 