Apple (AAPL) surges 9% on long-term alliance with Broadcom... "To release foldable iPhone"

▲ Apple (AAPL), Micron (MU), Memory Chip/AI Generated Image

Apple (AAPL) once again caught the market's attention, rising over 9% in five days. A long-term collaboration with Broadcom (AVGO) to develop custom chips until 2031 has strengthened Apple's artificial intelligence strategy.

According to FXLeaders, a financial market specialized media outlet, on July 7 (local time), Apple's stock price rose 1.31% in the last 24 hours. The increase over the past five days exceeded 9%. The media cited the long-term chip collaboration with Broadcom as the reason for the rise.

Apple and Broadcom will jointly develop custom chips for Apple's mobile phones, computers, and devices until 2031. FXLeaders assessed that this cooperation will help improve the performance and processing speed of Apple devices. Following the news of the collaboration, both companies' stock prices also showed a strong upward trend.

Apple unveiled improvements to its Apple Intelligence features at the Worldwide Developers Conference (WWDC) in June. Siri's functionality and parental control features for iPhone, iPad, and Mac were also strengthened. However, on the day of the event, the stock price rose to $317 during the day but closed at $301.54, falling 1.89%. It later fell to around $290.55, dropping up to $25 per share over the week.

Experts cited by the media believe that enhanced AI features could increase future service revenue by 12-14%. Apple is also preparing to launch a foldable iPhone. The estimated price is about $2,500, and suppliers have been asked to prepare for the production of up to 10 million units. The previous target was 7-8 million units.

Experts predict that the foldable iPhone could boost iPhone sales to 250 million units next year. Apple is also scheduled to announce its Q3 earnings on July 30. Earlier in the year, Apple recorded $111.2 billion in revenue.

[Article Key Summary]

-Apple's stock price has risen over 9% in the past five days, with its long-term chip collaboration with Broadcom drawing attention.

-Apple and Broadcom will jointly develop custom chips for Apple devices until 2031.

-Apple is preparing for the production of up to 10 million foldable iPhones and will announce its Q3 earnings on July 30.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*