Imagination Tech Plummets Over 60% After Apple Delivers "Black Swan Moment"
What a difference a year makes: not that long after Apple was considering the acquisition of Imagination Technologies, overnight the shares of the UK-based chip designer imploded, crashing as much as 69% after the company announced Apple - its largest customer which accounts for half of its revenue - will stop using its intellectual property in new products, setting the stage for a clash with its biggest customer.