GT Advanced downgraded to Neutral from Buy at UBS UBS downgraded GT Advanced (GTAT) and removed it from the US Key Call list following monthly checks on its Arizona sapphire fab that indicat it shipped less sapphire than previously expected in May. The firm is not sure if the slowdown is due to a GT Advanced issue or a request by Apple (AAPL) but does see increased execution risk near-term as a bigger ramp will be needed in 2H and notes the company has not confirmed the fourth payment from Apple that was due at the end of April.
News For GTAT From The Last 14 Days
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Leak points to sapphire screen for 4.7" iPhone 6 A newly posted YouTube video supposedly shows the screen that will be used in Apple's (AAPL) upcoming 4.7" iPhone 6 and claims that the part confirms that the smaller new model will have a sapphire display, not Gorilla Glass from Corning (GLW). The video adds that the existence of the part dispels rumors that only the larger, 5.5" iPhone 6 would feature a sapphire display. Note that Apple has a sapphire contract with GT Advanced Technologies (GTAT). Reference Link