GT-Apple accord questioned

Investor's Business Daily

Prospects for GT Advanced Technologies (GTAT), which makes sapphire materials for LED screens and solar products, were called into question by Canaccord Genuity. The financial service firm noted that GT has a contract to supply Apple (AAPL) with sapphire glass screens in the upcoming iPhone 6 and iWatch. Canaccord downgraded its rating on GT to hold from buy and said it is unclear how much of GT's product Apple will use, and how much it will add to GT's earnings potential. GT shares dropped 15.6% to 16.50.

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