TradingKey – As of the time this chart was generated, Broadcom (NASDAQ: AVGO) was trading at a price of roughly $373. The stock was moving upwards out of a falling channel and was last at a price of $370.14. Apple and Broadcom announced on July 6 that they would extend their relationship to include the joint development and supply of custom ASIC chips for several generations of Apple products through 2031. Broadcom saw its shares rise between 3.7% and 5% on July 6. Roughly 20% of Broadcom’s annual revenue is attributed to sales to Apple. The new agreement alleviated fears that Apple would eventually turn to its own in-house chips and eliminate Broadcom as a vendor. 

That was one of the factors that led to the roughly 20% drop in the…