GT Advanced shares were down as much as 14% on Wednesday after falling about 12% on Tuesday following the announcement that Apple’s iPhone 6 and iPhone 6 Plus would not feature a full sapphire display.
There are saphire displays for Apple Watch, which is set to be released in early 2015, and the camera lens on the new iPhone. However, the main front display was not sapphire, as had been hoped.
The steep drop in shares of GT Advanced, however, came after reports ahead of the iPhone announcement that iPhone 6 wouldn’t feature a sapphire display. Additionally, GT Advanced and Apple announced in November 2013 that the company and Apple signed a five-year sapphire materials agreement.
But it seems that investors were still holding out hope that Apple would surprise and announce a full sapphire display.
This is what the disappointment looks like, in chart form.