IPhone Chip Suppliers Feel Burn As Apple Implodes

Apple shares got whacked again Tuesday, and the stock's plunge also looks to be affecting its chip suppliers, including Skyworks Solutions, Cirrus Logic and Qorvo. Shares sank as much as 4.3% in huge volume, dropping to their lowest level in more than six months. The stock has now fallen for 10 out of the past 11 straight sessions. In Monday's session, the stock broke below its 200-day moving average, a key area of support. The stock hadn't breached that level in nearly two years. Apple is now up only about 5 bucks this year, and is trading roughly 14% below its late April peak at 134.54. Investors are concerned that the consumer technology giant's growth is slowing, as sales of the iPhone missed estimates last quarter and the company's next big-selling item isn't clear. Those fears are also weighing on Apple's suppliers. Skyworks dropped in quick trade to breach its 200-day line. Like Apple, it hasn't been below that level for about two years. Shares are now trading more than 20% below their June high. Cirrus Logic had a second big down day in a row, and it's nearing its 200-day line. The chipmaker is down 20% since May. And Qorvo gapped below its 200-day line last week after issuing its quarterly results. It's now trading at a nearly 9-month low.