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The
stock fell as much as 27 percent before paring losses to trade
23.3 percent lower at 43 Swiss francs by 0430 ET.
"AMS would appear to have lost the contract for the next
generation of Apple products," Finanz und Wirtschaft reported,
citing sources close to the company.
Representatives for AMS were not immediately available for
comment.
AMS makes components that boost Near Field Communication in
Apple devices including the iPhone -- technology used for
services such as contactless payments.
UBS analysts said the loss of the contract "is clearly a risk
for the business,", estimating it would contribute around 8
percent of group sales in 2015.
"We are afraid the market is likely to hammer AMS shares,
shooting first and asking questions later. Confidence in AMS
will be substantially eroded," said analysts at Kepler Cheuvreux,
which downgraded its rating on the stock to "hold" from "buy".
(Reporting by Katharina Bart, Rupert Pretterklieber, Paul Arnold
and Robert-Jan Bartunek; Editing by Keith Weir)
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