Why GT Advanced Technologies (GTAT) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of GT Advanced Technologies Inc. (GTAT) are up 7.73% to $15.90 following a report in ETNews.com that said sapphire is beginning to be used as smartphone cover glass in earnest, and that growth of related downstream industries is anticipated.

GT and Rubicon (RBCN) both make sapphire components. Rubicon shares are up 6.68% to $7.99.

Sapphire is considered more durable than tempered glass. 

Samsung Electronics (SSNLF) and LG Electronics recently asked ingot and wafer makers to submit samples in an effort to adopt the sapphire cover glass.

They reviewed it last year as well, but they were reluctant to use it because of high prices, but as global competitors recently announced plans to release new products with sapphire glass, they began to reconsider it in a hurry, ETNews.com said.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

 
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