AMS AG shares fell on Wednesday after a report in Swiss newspaper Finanz und Wirtschaft that the Swiss-listed sensor manufacturer had lost a key contract with Apple.
The company’s stock sank as much as 27% before paring losses to trade 23.3 percent lower at 43 Swiss francs by 0430 ET.
AMS makes components boosting Near Field Communication in Apple devices including the iPhone — technology used for services such as contactless payments.
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