When it rains it pours and news that Apple Inc.
(AAPL) - Get Reportis cutting ties with Intel Corp.
(INTC) - Get Report as a chip supplier has the entire semiconductor sector looking for shelter.
Bloomberg reported that Action Alerts Plus holding Apple will move on from Intel as a chip supplier for its Mac computers in favor of an in-house model that they produce. The report sent Intel tumbling 9%, its biggest one day drop in nearly two years.
But, Intel wasn't the only security to suffer on the news, the PHLX Semiconductor Sector ETF dropped 4.1% as semiconductor stocks across the board felt the reverberation from Apple's reported moves.
(MU) - Get Report - down 3.93%.
Cirrus Logic Inc.
(CRUS) - Get Report - down 4.87%.
(AVGO) - Get Report - down 3.42%.
Lam Research Corp.
(LRCX) - Get Report - down 4.86%.
Applied Materials Inc.
(AMAT) - Get Report - down 4.89%.
(QRVO) - Get Report - down 2.91%.
Cypress Semiconductor Corp.
(CY) - Get Report - down 4.6%.
Skyworks Solutions Inc.
(SWKS) - Get Report - down 3.94%.
ON Semiconductor Corp.
(ON) - Get Report - down 4.5%.
Taiwan Semiconductor Co.
(TSM) - Get Report - down 2.66%.
(QCOM) - Get Report - down 3.43%.