Is Broadcom stock a buy after Apple's massive chip pact?

Apple has signed a multi-year chip supply agreement worth more than $30 billion with Broadcom, running through 2031, under which Broadcom will deliver billions of advanced wireless connectivity chips for future Apple devices. As part of the deal, Broadcom will manufacture more than 15 billion chips in the United States and invest $1.5 billion to expand its Fort Collins, Colorado production facility. The long-term contract provides Broadcom with strong recurring revenue visibility and eases investor concerns about Apple replacing Broadcom chips with in-house alternatives.