Apple supplier Skyworks stock plummets as iPhone maker turns to competitor

Apple (AAPL) supplier Skyworks Solutions (SWKS) saw its stock drop nearly 25% Thursday as the semiconductor firm said that it’s losing business with the iPhone maker to one of its competitors, which analysts believe to be Broadcom (AVGO).

Skyworks makes chips used in Apple devices that are crucial for wireless communication. According to the company, Apple accounted for 72% of its roughly $1 billion in revenue for the December quarter. And 85% of that revenue from Apple was from sales of…