Apple Supplier AMS-Osram Plunges 45% After Key Project Axed
- Firm to weigh sale of micro-LED plant on the news, CEO says
- Canceled project linked to Apple Watch, Vontobel analyst says
This article is for subscribers only.
Shares of Apple Inc. supplier AMS-Osram AG lost the most on record Thursday after the Swiss chipmaker said a customer canceled a key project that could force it to sell part of its Malaysian production site.
AMS-Osram is weighing the potential sale of the second phase of the Kulim plant in Malaysia after the surprise decision by one of its biggest customers to cancel the project, according to Chief Executive Officer Aldo Kamper.