One of my competitors told me that another competitors' tactics were 'gnarly'.
It really depends upon the usage of the word... in the first usage, only the plural of the base word 'competitor' is used. But in the second usage, it is the pluralpossessive usage that places the apostrophe outside of the entire word. It is your decision whether or not to add an additional 's' after the apostrophe.
See the related link posted below for more information:
If we don't give the best service to our customers, they will soon be our competitors' customer.
iZod, Zune, Sony, MP3's
2010's top 10 competitors for figure skating and the countries they represented
fencing
yo mama's ( . Y . ) 's
Archery
fishing
They don't !!!!!!!!!!!!!!!!!!!¡¡
billy
Gymnastics
I do not proselate my services to your competitors
business competitors business competitors business competitors business competitors business competitors