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.

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