- "With rampant speculation around what Apple will or won’t release, we see a balanced risk reward given the information available," says Canaccord, reiterating a Hold on GT Advanced (GTAT +4.6%). Nonetheless, the firm still calls GT well-positioned to "benefit from a move to sapphire cover glass in the handset market, as well as a ramp in solar and some new technologies."
- Raymond James is now expecting GT's 2014 results to be even more sharply weighted towards Q4, and says its confidence in its estimates remains "subdued."
- UBS estimates 2014 sales to Apple will now be $150M below what the firm originally expected, and that full-year EPS will get a ~$0.26 boost from the backing out of $44M in costs related to GT's sapphire production ramp.
- Stifel is staying positive, declaring GT's guidance still implies "continued progress with Apple with increasingly material volumes."
- With Apple demanding strict secrecy from suppliers, management was predictably tight-lipped about its top client on the CC (transcript). CEO Tom Gutierrez: "I can’t speak to the volumes or the applications or the timing of Apple’s business."
- Gutierrez did admit there are "exclusivity provisions" related to the Apple deal, but added the provisions aren't all-encompassing. "There are applications that we can sell into, but I am not at liberty to provide a lot of detail..."
- A new report states Apple is holding a Sep. 9 iPhone launch event.
- Q2 results, guidance/details
From other sites
at CNBC.com (Dec 17, 2014)
at CNBC.com (Nov 6, 2014)
at CNBC.com (Nov 5, 2014)
at MarketWatch.com (Oct 23, 2014)
at MarketWatch.com (Oct 22, 2014)
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