Skyworks Solutions (NASDAQ:SWKS) tumbled 25.17% to $65.16 as of 9:31 a.m. ET after revealing that Apple (AAPL) plans to reduce its reliance on the company for the iPhone 17.

During its Q1 fiscal 2025 earnings call, CFO Kris Sennesael said that while Skyworks secured some RF module contracts, its overall content share in the iPhone 17 is expected to drop 20% to 25%.

• Warning! GuruFocus has detected 6 Warning Signs with SWKS.

Skyworks isn't standing still, though. Sennesael said the company is already developing solutions for the iPhone 18 and working with other mobile manufacturers to soften the blow. Skyworks expects to partially offset losses in fiscal 2026 and position itself for potential growth in fiscal 2027.

The news triggered a wave of analyst downgrades:

• Stifel cut its rating to Hold from Buy and slashed its price target to $62 from $105.
• B. Riley Securities downgraded Skyworks to Neutral from Buy, lowering its price target to $65 from $110, warning of a $525 million annual revenue loss.
• Mizuho Securities followed suit, dropping its price target to $62 from $105, citing weaker Android sales.

With Apple making up 69% of Skyworks' revenue, analysts warn that shifting to Android devices won't fully recover lost sales anytime soon.