Professional leaker Sonny Dickson is back at it again. Dickson just released his official photo of Apple’s 4.7″ and 5.5″ iPhone 6 hours ago. In 2013 Dickson released his official photos of the iPhone 5s and 5c just a few weeks prior to Apple’s official launch date in September.

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Earlier this week Taiwanese celebrity Jimmy Lin showed up in the news for another annual iPhone photo leak back. Lin this time around is reportedly leaking images of the iPhone 6. Jimmy Lin most notably leaked accurate images of the iPhone 5c in 2013 in mid August, which was one month before the 5c officially launched.

The pace of iPhone 6 photo leaks has picked up steam over the last week. Do the recent leaks indicate that the iPhone 6 launch is just the around the corner? If recent history provides any sort of track record the iPhone 6 launch might be just around the corner.

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Leaked iPhone 6 images surface from Taiwan

Posted: June 13, 2014 by mattmargolis24 in Uncategorized
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Taiwanese celebrity Jimmy Lin is back at it again. This time around he is reportedly leaking images of the iPhone 6. Jimmy Lin most notably leaked accurate images of the iPhone 5c in 2013 in mid August, which was one month before the 5c officially launched.

The images show what is being touted as the iPhone 6 alongside the iPhone 5S.

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Looking to profit from the latest trends in technology? Check out my in-depth coverage on my top investment picks at PTT Research Forensics Newsletter and be the first to know my next move before everyone else!

Nomura ups Micron Target to $40 from $30

Posted: June 12, 2014 by mattmargolis24 in Uncategorized
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Earlier today, Nomura maintained its buy rating on shares of Micron and upped its price target on shares of Micron from $30 to $40.

Nomura joined other firms, who recently raised price targets on shares of Micron. On Wednesday, Bank of America raised it’s Micron PT to $40 and Credit Suisse raised its PT to $50.

Disclosure: I am long shares of Micron and maintain a $61 price target that was issued in April.

For in-depth coverage on my top picks check out my PTT Research Forensics Newsletter and be the first to know my next move!

GT Announces Project Win for HiCz Technology

Posted: June 12, 2014 by mattmargolis24 in Uncategorized
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GT Announces Project Win for HiCz Technology

The project win with Qatar Solar Energy (QSE) is subject to QSE’s receipt of government approvals and financing before the project win becomes in an offical equipment order. As far as revenue recognition, HiCz will likely have a longer period of acceptance that could range from 6 to 12 months after the equipment is delivered before revenue can be recognized.

MERRIMACK, N.H., June 12, 2014 (GLOBE NEWSWIRE) — GT Advanced Technologies Inc., (Nasdaq:GTAT), today announced that it has secured a project win for its proprietary, next-generation HiCz continuous feeding puller technology that is expected to help enable the solar industry’s transition to higher efficiency, lower cost solar material. The company has entered into an agreement with Qatar Solar Energy (QSE) to supply its HiCz™200 furnaces for QSE’s integrated PV manufacturing project in Doha, Qatar. As noted by QSE in a recent press release, QSE has opened a 300MW integrated facility and plans for the project to reach 2.5GW. The supply agreement is subject to QSE’s receipt of government approvals and financing, at which time GT would expect to receive the equipment order.
“We are pleased that GT has been selected to supply its HiCz™200 monocrystalline furnace to QSE,” said Dave Keck, executive vice president of GT’s solar business. “This is an exciting opportunity for GT to have our leading edge HiCz technology selected to be a part of the first vertically integrated PV manufacturing facility in the MENA region. The GT HiCz 200 furnace is expected to produce high quality n-type wafers for solar cells with efficiencies that exceed 22 percent.”

HiCz is GT’s proprietary next-generation monocrystalline PV puller capable of growing both p-type and n-type monocrystalline ingots. The HiCz continuous feeding growth process offers significant advantages over traditional batch Cz furnaces making it particularly well suited for the production of n-type ingots. The HiCz growth process produces longer ingots with greater material uniformity and lower resistivity. This process lowers the cost of wafering through improvements in yield, enables higher quality material and is expected to provide a path to higher efficiency solar cells.

Full Disclosure: I am long GTAT

I will be breaking down the financial impact of this deal for my PTT Forensics Research Subscribers in the near future. Join now and be the first to find out!

  • Installed furnaces inside Mesa, AZ are estimated to exceed 2,500 tools
  • Apple Base Case Revenue likely to exceed $2B and $2.00 EPS
  • Sapphire boule size are estimated to approach 235 kg

GTAT is still waiting on the 4th and final prepayment is received from Apple. The delay in the receipt of the final prepayment is believed to be related to the ramp up of equipment of equipment inside the Mesa facility. The sapphire plant is expected to be completed in June, which should coincide with the receipt of the final prepayment from Apple.
 
My latest supply chain check indicated that GT has likely installed slightly more than 2,500 furnaces. Sapphire boule size is expected to range between 200 and 235 kg. Stephen Chin of UBS has been one of the most vocal analyst’s covering GTAT issued a note on May 28th related to the progress of GT’s sapphire operations in Mesa, AZ.
 
The UBS research note issued on May 28th indicated that any installed furnaces greater than 1,500 or boule size greater than 165 kg would likely result in an upside to its 2015 estimates of $1.30. UBS stated, “we believe 2015 has more chance for upside if the furnaces are indeed larger sized and there are more than we estimated.” My supply chain check indicates that the number of installed furnaces will be significantly larger than 1,500 and sapphire boule sizes will also be significantly larger than 165 kg, which will lead to major upgrades across the board from Wall Street analysts in the near future.
 
As a result of my most recent supply chain check I believe that the Mesa sapphire operations will have an ample supply to cover the iWatch, the 4.7” iPhone and the 5.5” iPhone with full sapphire cover glass in 2014. Additionally, the maximum sapphire screen capacity of the Mesa facility is likely to exceed 200m annual units. My most recent supply chain check confirms that GT’s sapphire business with Apple is likely to approach or exceed $2B annually, or $2.00 earnings per share using an estimated ASP of $10 per unit.
 
Current Wall Street models are only pricing in Apple business at $1b annual or $1.00 earnings per share. My latest supply chain check indicates that Wall Street will likely need to DOUBLE revenue, EPS estimates and price targets once the iPhone 6 and iWatch are released later this year covered in sapphire glass.
 
I am maintaining my $87.50 price target as well as my 2015 estimate for GTAT EPS at $2.84 based on $3.177B in sales, including just over $2B of sales from Apple versus $1.335B and $1.30 EPS currently being estimated by UBS.

Get in early and enjoy my top investment picks.

Credit Suisse maintains an outperform rating on shares of Micron and ups target from $30 to $50.

Shares of Micron are trading at over $30, which is the highest levels seen in over 10 years.

Disclosure: I am long shares of Micron and maintain a $61 price target that was issued in April.

For in-depth coverage on my top picks check out my PTT Research Forensics Newsletter and be the first to know my next move!

Bank of America decided to change it’s tune and join the bullish analyst party on shares of Micron. Less than 3 months ago Bank of America did not believe that EPS could go much north of $2 per share.

“Our Underperform rating (vs. a Buy until 21 Nov 2013) is based on a massive stock rally exceeding our up-cycle fair value (as of 19 Dec), a bigger threat from competitors’ (Hynix’s new fab plan, etc.) and weaker-than-expected chip prices (led by NAND). We also worry about the greater downside to DRAM spot and execution risk for new tech deployment (2xnm inferior to Korean peers). We disagree with the bullish consensus, as EPS growth is unlikely to be strong once it hits $2.

Bank of America has officially lifted it’s “underperform” rating and $19.10 target and replaced it with a buy rating and a $40 target.

“We upgrade our rating on Micron from Underperform to Buy with a new PO of $40.0 (FY15E implied P/E 14x, PBR 3.1x). The stock has already moved up strongly (up 33% YTD) but we think further upside will occur,In our view, key catalysts are solid chip pricing environment (tight supply) and cost competitiveness.

“Our EPS revisions for FY15-16E are c.50% on average at higher/lower ASP/cost. We also expect dividend payment from FY15-end. Lower cyclical risk and higher shareholder return lead to bigger EVA (WACC down vs ROE up); clearly a different cycle.”

Shares of Micron are trading at over $30, which is the highest levels seen in over 10 years.

Disclosure: I am long shares of Micron and maintain a $61 price target that was issued in April.

For in-depth coverage on my top picks check out my PTT Research Forensics Newsletter and be the first to know my next move!

Barron’s released some information from Brian White of Cantor Fitzgerald.

White was most recently in the news regarding his belief that sapphire was seen in some iWatch models and that the iPhone 6 would feature sapphire glass.

White’s supply chain check indicates, “that initial production of certain “iWatch” components is scheduled to begin later this month and there are plans for a sharp acceleration into fall.” The report also indicated that the iWatch will likely arrive along side the iPhone 6 in September. White estimates the iWatch will be priced between $199-$299 for entry level device.

White believes the first iteration of the iWatch is more of a companion device.

Since our research suggests the first iteration of the “iWatch” is more of a companion device, and thus requires a connection to an iPhone, we believe unveiling the two new devices at the same time makes sense.

White also indicated that the 5.5 inch iPhone 6 is likely to arrive this fall.

Furthermore, as we make our way through Computex, our research is uncovering more evidence that the 5.5-inch iPhone 6 will launch this fall.

Related Stories:

iWatch Touch Panel Provider TPK Almost Guarantees iWatch will Feature Sapphire

Full Disclosure: I am long GTAT

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GTAT Annual Shareholder Notes

Posted: June 4, 2014 by mattmargolis24 in Uncategorized
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Meeting was held in a conference room with officers and a few shareholders. Very low key and intimate setting.

Proxy votes were totaled and business items were approved.

Informal Q&A Proceeded the business portion of the meeting

Management Reiterated Comments from Previous Conference Call during Q&A

– 2014 is very focused on Apple
– Sapphire Price Increases are supportive of LED equipment expansion
– Management is bullish on Merlin in 2015