Apple supplier Skyworks Solutions 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,

Shares of Skyworks Solutions slid, after the Apple supplier said tougher competition for the iPhone maker's semiconductor business would cut into sales. Apple is the company's largest customer. Late Wednesday,

Skyworks Solutions shares sank more than 25% during early Thursday trading after the company reported that its largest customer, Apple (AAPL), plans to reduce its dependence on Skyworks for its iPhone 17 model.

Skyworks’ stock could see its worst day in more than four decades, with analysts noting that Broadcom seems to have gotten in on the action for a lucrative iPhone socket.