Dallas, Texas 04/07/2014 (FINANCIALSTRENDS) – GT Advanced Technologies Inc. (NASDAQ:GTAT) is known best as the company making the crystal growth solutions. These crystal growth solutions are very useful for the solar, electronic and the LED industry. There were very few public market investors who exactly knew what the company was all about. After the announcement of the sapphire deal that GT Advanced Technologies did with Apple Inc. (NASDAQ:AAPL) the investors started noticing it. There is a lot of change that is expected to happen because of this deal and can affect the fortune of the company.
The details of the deal with Apple Inc.
GT Advanced Technologies Inc. (NASDAQ:GTAT) and Apple Inc. have announced a deal to manufacture sapphire glass that is highly useful for Apple Inc. to make the new generation devices. Underthe deal,GT Advanced Technologies can make sapphire glass as its primary business. The touchscreens that are made out of sapphire glass are more resistant to the damages caused by scratches. Apple Inc. is emphasizing on the use of sapphire in its products as it wants their products to stand out from its competitors. GT Advanced Technologies is said to have a lot of profit coming out of this deal, if we look at the number of devices that Apple sells every year.
Analysts are getting highly optimistic about GT Advanced Technologies Inc. (NASDAQ:GTAT)
Recently, analyst at Goldman Sachs has upped the rating and has given a “buy” rating to the stocks of GT Advanced Technologies Inc. (NASDAQ:GTAT). They have decided a price target of $20 for the company. Another group of analysts at Credit Suisse are highly bullish about this stock and have just doubled the price target to $18 from $9.
There are various factors that make GT Advanced Technologies Inc. (NASDAQ:GTAT) a very attractive stock and the analysts also have put a seal on it. Recently the stock price jumped almost 92% and all this has happened over the period of three months. The future of this stock looks even more promising.