Apple sapphire partner expects orders in ‘latter part’ of 2014

Apple sapphire partner GT Advanced Technologies recently announced its 4Q 2013 fiscal results, noting the company “now expects equipment orders from investments to be received during the latter part of 2014.” GT expects “meaningful revenue recognition” will start in early 2015. “We expect to return to profitability during the second half of 2014,” Tom Gutierrez, president and CEO of GT said. These comments appear to allude to a fall 2014 launch of one or more new Apple products containing sapphire, making a summer or earlier launch of such products extremely unlikely at this point.