Apple (AAPL) is planning to switch to a homegrown chip for Bluetooth and Wi-Fi connections for its devices next year, a move that will replace some parts provided by Broadcom (AVGO), Bloomberg reported Thursday, citing people familiar with the matter.

Like Apple's other in-house chips, the new chip, code-named Proxima, will be produced by partner Taiwan Semiconductor Manufacturing (TSM), the people reportedly told Bloomberg.

Apple did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 248.65, Change: +2.16, Percent Change: +0.87