In a decision that caught everyone unawares, Apple Inc (NASDAQ:AAPL) announced on Monday, 2nd February, 2015 that it intended to invest as much as $2 billion in a factory located at Mesa, Arizona, which was previously being operated by GT Advanced Technologies Inc (OTCMKTS:GTAT). While the investment will be staggered over a period of a…
GT Advanced Technologies Inc (GTAT) Bankruptcy Judge Pushes for Public Disclosure, GT Fears $50 Million Confidentiality Fine From Apple Inc. (AAPL)
After proceeding with the GT Advanced Technologies Inc (NASDAQ:GTAT) bankruptcy case, the judge involved in the process has asked the sapphire manufacturer to disclose more information at the public stage. However, GTAT has pushed the hearing further to October 21, as it fears for the $50 million confidentiality contract it signed with Apple Inc. (NASDAQ:AAPL)…
GT Advanced Technologies Inc (GTAT) Is Running Out Of Cash And Facing Penalty By Apple Inc (AAPL)
The shares of GT Advanced Technologies Inc (NASDAQ:GTAT) fell 51.85% yesterday to close at $0.390, post its bankruptcy proceedings. It was further revealed that the financially troubled company didn’t own the sapphire glass manufacturing facility and was accountable for $439 million prepaid loan from Apple Inc (NASDAQ:AAPL). The troubles of GTAT have quadrupled after the…
GT Advanced Technologies Inc (GTAT) Bounces Back on Apple Inc (AAPL) Post Bankruptcy
After filing chapter 11 bankruptcy this week, GT Advanced Technologies Inc (NASDAQ:GTAT) made it clear that it might pursue legal claims against Apple Inc (NASDAQ:AAPL) while undergoing bankruptcy. The company further indicated that it would move back to its sapphire furnaces business instead of manufacturing Sapphire products for the iPhone maker. The announcement that Apple…
Apple Inc. (AAPL) Sapphire Deal Takes GT Advanced Technologies Inc (GTAT) To Its Knees, Forcing the Company to Apply for Chapter 11
The deal began well, and both partners were upbeat about the prospect of their union. Apple Inc. (NASDAQ:AAPL) had come into a partnership with GT Advanced Technologies Inc (NASDAQ:GTAT) for the production of strong sapphire material for use in making gadget screens. But when it became clear that GT couldn’t supply hard enough material for…
GT Advanced Technologies Inc (GTAT)’s Bankruptcy Stunned Apple Inc (AAPL) and Investors Alike
GT Advanced Technologies Inc (NASDAQ:GTAT) took the whole market including its Arizona sapphire plant partner, Apple Inc (NASDAQ:AAPL), with surprise after filing for bankruptcy on October 6. The stocks of the company lost 90% value post the announcement wiping out its existing market cap within a day. GT Advanced Technologies Inc (NASDAQ:GTAT) filed for chapter…
Hearing of GT Advanced Technologies Inc (GTAT) Bankruptcy Application Set to Begin Thursday
A clerk at a bankruptcy court in Manchester, New Hampshire, has revealed that the GT Advanced Technologies Inc (NASDAQ:GTAT) application for bankruptcy protection will begin tomorrow Thursday 11 am ET. The company will be expected to give details of why it applied for the bankruptcy protection. GT Advanced Technologies Inc (NASDAQ:GTAT) has been caught between…
Apple Inc. (AAPL) Partner GT Advanced Technologies Inc (GTAT) Stock Slumps More Than 90% After Filing for Bankruptcy Protection
The markets are extremely dynamic; that’s why every move by any company is closely monitored by investors and market analysts. The onus is on the company to ensure that it does it right every time as one unfavorable move would take the company to its knees. And that’s what happened to Apple Inc. (NASDAQ:AAPL) partner…
GT Advanced Technologies Inc (GTAT) Shares Tanked and Degraded by Multiple Analysts
Unlike for the major U.S. mobile carriers, September 9 event concluding the launch of much awaited iPhone 6 from Apple Inc (NASDAQ:AAPL) didn’t bring any good news for GT Advanced Technologies Inc (NASDAQ:GTAT). Apple announced that it will use an ionized glass screen instead of the sapphire glass screen and the announcement lead to a…