GT Advanced Technologies Starting Factory For Apple Sapphire Screen Covers, Stock Up 4.5%


GT Advanced Technologies (GTAT) is building a factory in Arizona that will supply sapphire for Apple (AAPL) screen covers, according to Digitimes Research.

Digitimes said the facility would supply between 9% and 16.6% of demand for sapphire material for a new iPhone, based on GTAT’s sales forecasts and the average $30 production cost for a 4-inch sapphire wafer.

Digitimes estimates Apple will ship 70 million units of a new-generation iPhone in 2014 that would use sapphire screen covers.

GTAT, an electronics software & equipment provider, was up 4.56% in early afternoon trade.

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