GT shares plunge as Apple taps other source for new iPhone display

By Saqib Iqbal Ahmed NEW YORK (Reuters) - Shares of GT Advanced Technologies Inc plunged in their heaviest-ever trading day on Tuesday after Apple Inc said its new iPhone 6 would not feature screens made with GT's sapphire glass displays. GT's stock began falling abruptly in early afternoon trading as Apple's latest product launch event was underway in Silicon Valley. "There was a chance that Apple would announce Sapphire displays in their new iPhones, and (Apple) has decided not to go that route," Ophir Gottlieb, chief executive officer at Los Angeles-based Capital Market Laboratories LLC, said. GT, which makes equipment for consumer electronics, power electronics, solar and LED products, said last year it would partner with Apple to build a plant to make sapphire screens for iPhones and iPads.



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