Today it will be Cyprus. Six degrees of separation with respect to GTAT, but we'll likely sell off at least 3-5 times the market percentage (possibly more). At least that is the characteristic pattern. This mild rebound after the recent post-ER lows has been fragile. We see if there is any stick this week to those modest gains. Those that wanted cheaper shares may get your wish over the next few sessions. We really need some revenue positive news for positive momentum.
I see mostly the opposite. The company already announced and reirterated in the last ER call that revenues would be heavily loaded to the last half of this year as ASF takes off. And those sapphire furnaces get their busines from LED's and hopefully-soon cell phones; they aren't dependent on the PV business. So what we just saw was GT make the transition from a plunging PV business to the latest and greatest in the tech sector. And if folks understand what is happening right now, they'll come to the same conclusions.
They say the market looks 6-months ahead -- at least the investment side of the market -- day traders look about as far as the last hour's headlines. If the 6-months is correct the company doesn't need to say more than what's said -- just deliver the results they told us as recently as three weeks ago.
No doubt this could be the real start of the overall market correction which was due and actually started Friday. As to whether GTAT takes in on the chin more than other stocks. Could be but I'm not convinced. I would expect the high flyer nosebleeders/momos that were already coming down last week to take it on the chin aka, AMZN, NFLX, CRM for example but we will see.