On Wednesday, July 8, Broadcom (NASDAQ: AVGO) stock received potentially powerful tailwinds when the blue-chip technology giant Apple (NASDAQ: AAPL) announced it would be increasing its spend with the company.
According to the press release, the iPhone makers agreed to boost spending and now expect the deal to exceed $30 billion in an effort to bolster production of chips in the U.S.
Perhaps most notably, the agreement – which is part of Apple’s commitment to invest $600 billion in the American economy across four years – will involve a $1.5 billion capital expenditure (CapEx) investment earmarked for expansion and modernization of Broadcom’s facilities in Fort Collins, Colorado.
Still, despite the scale of the deal, the question of whether AVGO is a ‘Buy’ after the announcement remains open given the equity’s performance so far in 2026.
Broadcom (AVGO) stock investors react to Apple deal
To begin with, the initial investor reaction to the Apple press release appears to have been generally positive. Indeed, the news accelerated Broadcom stock’s weekly rise, pushing the shares 4.38% into the green on the weekly chart.
The rally has not only been especially pronounced on Wednesday – amounting to 4.83% and leaving AVGO at $388.69 at the closing bell – but has also extended into the Thursday pre-market with an additional 1.35% rise to $393.94.
Is Broadcom stock a buy in July?
Furthermore, William Blair’s Sebastien Naji came out with a ‘Buy’ recommendation on July 8, not only indicating positivity toward the deal but also reinforcing the already bullish Wall Street expert attitude toward Broadcom.
Indeed, the equity is overall considered a ‘Strong Buy’ and expected to rise 32.99% to $516.91 in the next 12 months, based on the data on institutional experts retrieved by Finbold from TipRanks on July 9.
Lastly, Broadcom stock technical analysis (TA) indicates that the Apple deal is likely to reflect positively on AVGO shares’ performance, considering the tailwinds will contribute, rather than trigger a bullish turn.
Specifically, data Finbold retrieved from TradingView on July indicates that the technology giant has generally remained a ‘Buy’ based on the last 24 hours, last week, and the last month in the market with both oscillators and moving averages (MA) positioning it as such.
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