These 10 Firms Were Last Week’s Worst Performers

5. Skyworks Solutions Inc. (NASDAQ:SWKS)

Skyworks saw its share prices drop by 26 percent last week to close at $65.69 apiece from the $88.76 registered a week earlier as investors sold off positions following an announcement that technology giant Apple Inc. it would reduce its reliance on Skyworks’ semiconductors for components of its upcoming iPhone 17.

This spells bad news for the company, with Apple being one of its largest customers. Last quarter alone, Apple accounted for 72 percent of SWKS’ total revenues.

According to SWKS’ Chief Finance Officer Kris Sennesael, the company’s content share in the new iPhone is expected to decline by up to 25 percent despite securing multiple sockets, including highly integrated RF modules.

Following the announcement, a number of investment banking firms moved to downgrade Skyworks’ rating.

Analysts from Stifel said they slashed their stock rating for the company from “buy” to “hold,” while Mizuho analysts said they cut their rating for the company from “outperform” to “neutral,” citing continued headwinds through at least the iPhone 18 launch and limited near-term catalysts.