Clint Harritt, Managing Partner
Some hype has been circling GT Advanced Technologies (GTAT) in relation to the Google (GOOG) X Phone possibly having a sapphire screen. From our perspective at Zinnia Funds, it's notable, but somewhat irrelevant since investors who follow GTAT know the company is already providing sapphire equipment for use in the smartphone and LED industries. Whether Google's specific phone has a sapphire screen or not, we know that GTAT is already involved with, and in extensive R&D for, technologies that affect smartphones. With market penetration of smartphones in the U.S. sitting at 55 percent, per comScore, and even greater internationally, the smartphone market potential is still generous.