NEW YORK (TheStreet) -- GT Advanced Technologies
(GTAT) shares are down -3.5% to $15.48 on Monday after analyst at CLSA said that they see a risk to the company's 2014 guidance while maintaining their "outperform" rating and $18.50 price target on the stock.
The firm believes that the company's sapphire supply to Apple (AAPL) indicates weak yields, limiting supply and threatening the company's EPS and revenue forecasts for the year.
CLSA lowered the company's material revenue guidance to $200 million from $400 million this year and to $600 million from $750 million next year. It also lowered its EPS guidance to -30 cents from 10 cents this year and to 50 cents from 65 cents in 2015.
Must Read: Warren Buffett's 25 Favorite Stocks
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts