Chip firm's stock dips 70% in a day after Apple cuts deal
UK chip designer Imagination Technologies' shares plunged around 70% on Monday after it said that Apple, its largest customer, will stop using its intellectual property in new products. This marked the firm's biggest-ever intraday slump. Notably, Apple informed Imagination that it will stop using its graphics technology for new products, including phones, tablets, and watches, in about 2 years.