UPDATE: Canaccord Genuity Downgrades GT Advanced Tech (GTAT) to Hold; iPhone 6 May Not Include Sapphire in Material Volumes, Says Analyst
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GT Advanced Technologies (GTAT) Sees Upside Action on Volume Surge
July 8, 2014 1:19 PM EDTGT Advanced Technologies (NASDAQ: GTAT) is moving higher mid-day on volume following positive analyst commentary related to iPhone 6 Sapphire use, as rumored earlier. Shares are up 2%.
NOTE: Shares were hit with two downgrades Monday on worries about iPhone sapphire use.
... MoreRubicon Technology (RBCN) Sharply Lower as Peer GT Advanced Tech (GTAT) Hit With Two Downgrades
July 7, 2014 11:39 AM EDTRubicon Technology, Inc. (NASDAQ: RBCN) is under server pressure today. Shares are down 7.4% on heavier-than-normal volume. Today's downside appears related to the double downgrade of peer GT Advanced Tech (NASDAQ: GTAT).
GTAT shares are down over 12% as Canaccord Genuity downgraded the stock from Buy to Hold with a price target of $20.00. Analyst Jonathan... More
UPDATE: UBS Downgrades GT Advanced Tech (GTAT) to Neutral
July 7, 2014 7:28 AM EDT(Updated - July 7, 2014 9:33 AM EDT)
UBS downgraded GT Advanced Tech (NASDAQ: GTAT) from Buy to Neutral with a price target of $22. Analyst Stephen Chin lowered 2014 sales estimates to $700 million versus $800 million previously and EPS of $0.12 versus $0.17 previously. 2015 and 2016 EPS remain $1.30 and $1.60. Chin also noted a slower ramp in Q2.
"Our monthly checks found GT had a successful month of May at its Arizona sapphire fab and estimate it shipped 1.6M two-inch equivalents (TIEs) of sapphire (up 60% m/m) to one of... More
