Shares of GT Advanced Technologies depreciated almost 90 percent. within three years – from $ 11 to 80 cents. There would be nothing special, if not for the fact that the company had a bright future. In November last year, the company announced the signing of an agreement with Apple to manufacture materials with sapphire, and now announces for bankruptcy.
About GT Advanced Technologies became loud after signing the contract with the manufacturer the iPhone and iPad. Although due to the high cost of sapphire is not commonly used, the new Apple gadgets were to be equipped with a display of fault-tolerant sapphire. GT AT and had to be, thanks to the shining star of the New York Stock Exchange.
In August the company announced that at the turn of the year, together with the technological leader had to start production in a newly built factory in Arizona. As it turned out at the premiere of the iPhone 6, Apple smartphones sapphire glass will not be – it will only watch giant from Cupertino, Apple SmartWatch.
The American media is no shortage of suspicion, supposedly Apple’s decision not to use sapphire in iPhones has caused drastic declines in the exchange rate and thus the specter of bankruptcy of the entire company. Nothing, however, does not confirm these theories, and you have to remember that the judgments of stock market investors are governed by its own rules.
Source: Bankier.pl
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