GT Advanced Technologies Sinks On Reduced Sapphire Outlook

GT Advanced Technologies Inc. (GTAT) is plummeting in the early minutes of trading after CLSA analyst Mark Heller gave a conservative guidance for sapphire. Heller has cut sapphire capacity and revenue estimates by 50% for the year due to poor yields in sapphire production. He said GT Advanced is having issues ramping up production at new furnaces. The company is expected to solve these problems over time with Apple Inc. (AAPL) increasingly adopting sapphire. While many analysts believe GT is pr...