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Jim Cramer: ‘If iPhone Is Overweight Sapphire, Be Overweight GT Advanced Technologies’

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CNBC’s Jim Cramer is bullish on GT Advanced Technologies (GTAT), and so is Piper Jaffray’s  Mike Ritzenthaler, who initiated coverage in the stock with an Overweight rating and a $23 target. Ritzenthaler was bullish even as some critics think that the sapphire screens produced by GT Advanced Technologies will appear in only a few models of the iPhone 6. Cramer says that if additional news emerges that Apple’s (AAPL) iPhone will be “overweight” sapphire, then Cramer agrees with Ritzenthaler and would be “overweight” GT Advanced Technologies.

DSW (DSW) reported a 5 cent earnings beat on revenues that increased  by $22.16 million or 5% year over year. Cramer says the poor performance of the shoe retailer is behind it, and DSW is making a comeback. In May, the company reported weak Q1 results with a 3.7% decline in same store sales. Cramer thinks DSW has further upside.

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