Apple Inc. announced a multiyear agreement with Broadcom Inc. valued at more than $30 billion to design and manufacture custom silicon components and advanced wireless connectivity technologies in the United States. The agreement is expected to result in the production of more than 15 billion chips and support hundreds of American jobs. This marks Apple's largest commitment to date under its American Manufacturing Program (AMP), which was launched to strengthen domestic chip production.

As part of the deal, Broadcom will invest $1.5 billion to expand and modernize its manufacturing facility in Fort Collins, Colorado. The site will produce advanced radio frequency components, including FBAR filters, along with next-generation wireless connectivity technologies used across Apple's product lineup. The agreement is part of Apple's broader pledge to invest $600 billion in the U.S. economy over four years, supporting domestic manufacturing, job creation, and technology development.

CEO Tim Cook said the expanded partnership reinforces Apple's commitment to U.S. manufacturing and innovation while helping deliver advanced connectivity technologies for its devices. Broadcom CEO Hock Tan said the investment will expand the company's manufacturing footprint in Colorado and reflects the two companies' long-standing partnership and shared focus on American innovation.

Financial Outlook and Analyst Ratings

Apple is scheduled to report quarterly earnings on July 30. Wall Street expects earnings of $1.89 per share, up from $1.57 a year earlier, on revenue of $108.86 billion versus $94.04 billion last year. The stock carries a consensus Buy rating with an average price forecast of $324.16.

Technical Analysis and Price Action

Apple continues to trade in a solid long-term uptrend. The stock sits 13.8% above its 200-day simple moving average of $271.78 and 11.2% above its 100-day SMA of $277.98. However, near-term momentum remains mixed as the 20-day SMA of $295.43 remains below the 50-day SMA of $295.82, reflecting a bearish crossover. Momentum indicators are improving, with the MACD above its signal line and a positive histogram suggesting buying momentum is gradually strengthening.

Immediate resistance stands at $317.50, near the stock's 52-week high of $317.40. Support is seen around $287.50, a key level where buyers have previously stepped in. Apple shares were trading at $310.30 at the time of publication on Wednesday, approaching its 52-week high of $317.39.

Apple Inc. on Wednesday lost its legal challenge against the European Union’s landmark Digital Markets Act (DMA), which classifies its App Store and iOS operating system as “gatekeepers” subject to rules designed to boost competition. The General Court of the European Union dismissed Apple’s challenge to its designation, reinforcing the EU’s antitrust efforts to boost competition and consumer choice. The court also ruled that Apple’s challenge regarding iMessage was inadmissible.

The DMA, effective since May 2023, imposes obligations on major tech companies and allows fines of up to 10% of global annual revenue for violations. Meta Platforms Inc. and ByteDance have also challenged the law. The court upheld the decision to classify Apple’s five App Stores across iPhone, iPad, Mac, Apple TV, and Apple Watch as a single core platform service under the DMA. The judges ruled that all five stores serve the same purpose of connecting app developers with users to distribute software.

Apple can still appeal the legal ruling to the Court of Justice of the European Union. In November, Apple informed the European Commission that Apple Ads and Apple Maps meet the thresholds under the DMA. The iPhone maker reiterated its criticism of the DMA, stating the law “goes beyond what is lawful and proportionate” and could undermine user privacy and security. The company said it would continue advocating for innovation and stronger privacy protections for its European customers.

The EU decision followed a separate ruling where the Court of Justice of the EU upheld a €4.1 billion ($4.67 billion) antitrust fine against Alphabet Inc.’s Google. The crackdown has strained U.S.-EU relations, with President Donald Trump accusing European Union regulators of unfairly targeting American companies. In August, Trump warned he would impose steep tariffs on European exports unless the EU dropped what he called its “discriminatory” actions, adding that U.S. tech firms would no longer serve as the world’s “piggy bank” or “doormat.”

Trump also threatened to impose 100% tariffs on French wines and champagne unless France scraps its 3% digital tax on American technology companies. He warned that any European country imposing a digital services tax on U.S. tech companies would face a 100% tariff on goods exported to the U.S. The threat comes days after the U.S.-EU trade deal left digital taxes unresolved.