Why GT Advanced Technologies (GTAT) Stock Is Dropping Today

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 ReadWarren Buffett's 25 Favorite Stocks

GTAT ChartGTAT data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Apple Supplier GT Advanced Set for Key Hearing Tomorrow

Why GT Advanced Technologies (GTAT) Stock Is Plummeting Today

GT Advanced Has Made an Unusual Request in Bankruptcy Court

How Will GT Advanced Technologies (GTAT) Stock React to Court Appearance Today?

Stock Market Today: Bulls Charge as Fed Allays Rate Hike Concerns