“Apple’s interest in sapphire has led investors to take quite a shine to GT Advanced Technologies. Its value has tripled in the past year,” Dan Gallagher reports for The Wall Street Journal. “But the coming iPhone 6 launch may dim that luster.”
“GT is building a manufacturing facility in Arizona in partnership with Apple to produce sapphire material for the iconic company’s devices,” Gallagher reports. “The next iPhone, expected to hit stores in late September, will reportedly use sapphire to make its screen tougher and more scratch-resistant.”
“Despite Apple’s public commitment to the partnership, the deal still carries risk. Apple isn’t locked into taking any specific volume from GT, which means it can still shop elsewhere. The deal also places some limits on sapphire-producing equipment that GT can sell to its other customers, though GT hasn’t shared any further details on this,” Gallagher reports. “Apple is expected to announce its new iPhone on Sept. 9. UBS estimates that GT’s stock could swing as much as 10% up or down that day on the news.”
Read more in the full article here.
So GT stock could go up or down. Stop the presses! What a shock that either of those things could happen. Have you ever heard of stocks going up or down? Goodness gracious
And it’s all dependent on the announcement of the new iPhones, I mean who would have guessed the stock might move on that day. Wow this guy is insightful, he’s good, no he’s a genius.
Wait, it could be even worse! It could be catastrophic. . . it could stay the same, having already grown on rumor!
Someone at the WSJ must be getting whipsawed on a short position.
I just want to say how delightfully rational and deadpanned cupertinojoe and spyintheskyuk’s sarcasm is. Keep it coming.
No really, I wasn’t being sarcastic.
I’m serious.