(NASDAQ:GTAT) has found out what happens when your product isn't part of the Apple conversation.
The crystal display specialist's stock was down more than 13% in afternoon trading in the stock market today, as the company's display technology won't be used in Apple's new iPhone 6 models.
Goldman Sachs on Wednesday downgraded GT Advanced to neutral from buy, and it and at least two other investment banks cut their price targets on GT Advanced stock.
Goldman cut its price target to 14 from 20. Cowen & Co. lowered its target to 18 from 19 and Canaccord Genuity reduced its target to 13 from 16.
GT Advanced stock, which fell nearly 13% Tuesday after Apple unveiled its iPhone 6 and other products, was trading near 13 Wednesday afternoon.
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The crystal display specialist's stock was down more than 13% in afternoon trading in the stock market today, as the company's display technology won't be used in Apple's new iPhone 6 models.
Goldman Sachs on Wednesday downgraded GT Advanced to neutral from buy, and it and at least two other investment banks cut their price targets on GT Advanced stock.
Goldman cut its price target to 14 from 20. Cowen & Co. lowered its target to 18 from 19 and Canaccord Genuity reduced its target to 13 from 16.
GT Advanced stock, which fell nearly 13% Tuesday after Apple unveiled its iPhone 6 and other products, was trading near 13 Wednesday afternoon.
Read More At Investor's Business Daily: http://news.investors.com/technology/091014-716809-gtat-sapphire-display-not-on-new-iphone-just-smartwatch.htm#ixzz3DPxwI4tL
Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook
