Dallas, Texas 02/12/2014 (FINANCIALSTRENDS) – In a recent announcement made by the GT Advanced Technologies Inc. (NASDAQ:GTAT), the company has said that they are going to open a factory in direct collaboration with Apple Inc. in Mesa Arizona. From this factory they are going to produce sapphire. Recent reports also suggest that Apple Inc. is also planning to use sapphire for its future iphones and a unique product called as iWatch. The main aim of the company is to offer scratch resistant and durable devices to their esteemed customers.
Though this partnership was announced in November’ 2013 but the real action is going to start in 2014 as GT Advanced Technologies Inc. has acquired 518 sapphire furnace and unique chamber systems. Apart from these chamber systems and furnaces the company has also ordered tools and machines that are going to be utilized while making sapphire. With all these positive news it seems that the future is quite bright for GT Advanced Technologies Inc. and by investing in this share good amount of benefit can be earned in the future.
An Overview of the Company
GT Advanced Technologies Inc. (NASDAQ:GTAT) is a diversified technology company that specially deals into crystal growth equipment and also offers solutions for global star, light emitting diode and other electronic industries. During the last trading session GT Advanced Technologies opened at around $11.74. The 52 week high of this share is $11.99 and its 52 week low is $2.61.
The 50 day moving average of this stock is $9.3 and the 200 day moving average is $8.20. If we talk about the current market capitalization of this stock then it comes out to be $1.434 billion. There are many research and investment analysts who are maintaining a strong buy on this stock as it can zoom past it 52 week high at any given point of time.