Apple Supplier AMS Drops as Net Misses Estimates: Zurich Mover
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AMS AG, the Austrian maker of semiconductors whose clients include Apple Inc., dropped the most in almost 15 months after full-year profit missed analyst estimates on rising costs.
AMS shares fell as much as 7.3 percent, the biggest intraday decline since Nov. 1, 2011. The stock more than doubled last year. The shares were trading 3.2 percent lower at 112.5 francs as of 2:24 p.m. in Zurich, giving the company a market capitalization of 1.6 billion Swiss francs ($1.7 billion).