Shares of GT Advanced Technologies Inc GTAT are down sharply after Goldman Sachs, Dougherty and Piper Jaffray downgraded shares.
This followed Tuesday's Apple Inc. AAPL event, where it was disclosed that GT Sapphire glass will not be part of the new iPhone 6 series, but will be used in the new Apple watch.
Goldman Sachs analyst Brian Lee remained positive long term on GT Advanced, but lowered his rating to Neutral and his price target to $14. Piper went from Overweight to Neutral with a $16 price target. Dougherty lowered their rating from a Buy to a Sell.
Shares of GT Advanced have now fallen 25 percent the past two days on extremely heavy volume. It traded recently at $12.80, down 14.3 percent from Tuesday's close.
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