TradingKey – Broadcom (NASDAQ: AVGO) is changing hands at $404.00 as the rebound gains traction on the news of an Apple long-term partnership. Broadcom shares have gained around 3-4% since the start of July, replacing a bearish pattern in a previous period with a bullish one. The big news in the market was Apple’s official statement that Broadcom will design and produce over 15 billion custom chips in the US until 2031 under an agreement valued at $30B+. 

Broadcom will also spend $1.5 billion to expand its chip manufacturing facilities in Fort Collins, Colorado. Despite a negative market reaction following the escalation of hostilities in the Middle East, the stock managed to maintain its support at the $400 level, which was a sign of…