Rubicon Technology (RBCN) Gains on Positive Sapphire Industry Outlook (AAPL)
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Rubicon Technologies (Nasdaq: RBCN) is active Tuesday amid Apple Watch-related speculation.
Digitimes said that 30.8 million millimeters of two-inch sapphire ingots will be used for Apple Watch covers in 2015. The total amounts to 18 percent of total sapphire ingot production for 2015.
Of the 20 million Apple Watch units expected to ship in 2015, only the Watch Sport won't use sapphire covers.
While the sapphire covers will be sourced from China-based suppliers, Lens Technology and Biel Crystal, the entire industry is expected to get a boost on improved demand.
Shares of Rubicon are up 0.7 percent after starting the session in negative territory.
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