Broadcom's top five customers account for 40% of its revenue, with 48% from its distributor channel. A single distributor is projected to contribute 32% of revenue in fiscal year 2025. China accounts for 17% of revenue, or $7.6 billion. Apple's revenue contribution is expected to exceed $7 billion in fiscal year 2025. TSMC manufactured 95% of Broadcom's external wafers, while Broadcom has only $106 million in purchase commitments for fiscal year 2026, which is an exception given the high demand for capacity at TSMC.