Apple's sapphire supplier files for Chapter 11 bankruptcy protection

[Shawn Knight]

GT Advanced Technologies, the company that landed a multi-year sapphire materials deal with Apple just last year, has filed for Chapter 11 bankruptcy protection.

Tom Gutierrez, president and chief executive officer of GT, said today’s filing does not mean they are going out of business. Rather, it provides them with the opportunity to continue to better execute their business plan on a stronger footing, maintain operations of their diversified business and improve the balance sheet.

A quick look at the company’s stock progress over the past few years tells the entire story. Share values nearly doubled following the deal with Apple last year and stayed pretty steady until last month. Once it became known that the iPhone 6 and iPhone 6 Plus didn’t feature sapphire displays, the stock began to tumble.

Today, it opened down nearly 90 percent at $1.20 per share as of writing.

Looking ahead, all we know for sure is that certain models of Apple’s upcoming Watch will include a sapphire display. Whether or not future iPhones move to a sapphire display is still up for debate. The general consensus is that sapphire is more scratch-resistant than glass but it’s also heavier, more expensive and more brittle.

No word yet on Apple’s reaction to the news or how it might affect production of future products. Either way, I’m sure Corning isn’t too torn up over the whole matter.

Permalink to story.

https://www.techspot.com/news/58318-apples-sapphire-supplier-files-for-chapter-11-bankruptcy-protection.html

 

[davislane1]

"A quick look at the company’s stock progress over the past few years tells the entire story."

Not nearly. Stock price is simply a reflection of current (or past) market sentiment. The entire story is found in their financial statements.

 

[wastedkill]

"A quick look at the company’s stock progress over the past few years tells the entire story."

Not nearly. Stock price is simply a reflection of current (or past) market sentiment. The entire story is found in their financial statements.

A companies stock is merely an illusion created by CEO's who want more money and people who want to control a company otherwise stock is just merely as legit as bitcoins...

 

[davislane1]

A companies stock is merely an illusion created by CEO's who want more money and people who want to control a company otherwise stock is just merely as legit as bitcoins...

That's not how securities work, but I suppose it suffices as a conspiratorial oversimplification.

Since I trade derivatives, I'm wondering if the paradigm you suggest makes me some type of Madofrian agent of financial connivery? Being a master of shenanigans would be a step up from "greedy, no good gambler."

 

[MonsterZero]

Sapphire is all hype. Gorilla Glass is where its at, don't you think that Corning would have already tried Sapphire if it was a viable solution?

 

[davislane1]

Sapphire is all hype. Gorilla Glass is where its at, don't you think that Corning would have already tried Sapphire if it was a viable solution?

I can't claim to be up to speed on display material tech. What exactly is the real difference between sapphire and GG in application?

 

[Greg S]

Sapphire is all hype. Gorilla Glass is where its at, don't you think that Corning would have already tried Sapphire if it was a viable solution?

I can't claim to be up to speed on display material tech. What exactly is the real difference between sapphire and GG in application?

One is worshipped by Apple lovers, the other isn't. That's the main difference.

Sapphire glass is more scratch resistant, but estimated to be nearly ten times more expensive, about 33% heavier, and completely even with gorilla glass in terms of shattering. So, if you drop your phone on the concrete, it's still probably going to break. You just won't have to worry about having your car keys in the same pocket as your phone so much.

 

[Guest]

"Sapphire is all hype. Gorilla Glass is where its at, don't you think that Corning would have already tried Sapphire if it was a viable solution?"

Sapphire glass or on this article it's refers to synthetic sapphire which is generally made by applying incredibly high heat and pressure to aluminum oxide powder and then it need to be sliced into thin sections using a diamond saw or laser.
While Corning glass is an ion-hardened glass where large ions are “stuffed” into the glass surface, creating a state of compression to make it tough-glass (thanks to Steve Jobs, who made it popular, otherwise this glass will keep mothballed by Corning).
The problem with sapphire glass is the cost comes largely as result of the manufacturing process compared to gorilla glass, that's why it never be a viable solution and that's why sapphire glass only used in premium-very-expensive-smartphones like Vertu or used in expensive wristwatch

 

[Skidmarksdeluxe]

"Sapphire is all hype. Gorilla Glass is where its at, don't you think that Corning would have already tried Sapphire if it was a viable solution?"

Sapphire glass or on this article it's refers to synthetic sapphire which is generally made by applying incredibly high heat and pressure to aluminum oxide powder and then it need to be sliced into thin sections using a diamond saw or laser.
While Corning glass is an ion-hardened glass where large ions are “stuffed” into the glass surface, creating a state of compression to make it tough-glass (thanks to Steve Jobs, who made it popular, otherwise this glass will keep mothballed by Corning).
The problem with sapphire glass is the cost comes largely as result of the manufacturing process compared to gorilla glass, that's why it never be a viable solution and that's why sapphire glass only used in premium-very-expensive-smartphones like Vertu or used in expensive wristwatch

If it's as simple as applying incredible heat and pressure to aluminium (not aloominum, that sounds silly) oxide powder then why not apply the same technique to carbon? You could then have diamond glass which is even harder (not to mention more expensive and brittle) and more scratch resistant than sapphire glass.

 

[VitalyT]

The monkey must be dancing...

...and singing...

 

[Guest]

"If it's as simple as applying incredible heat and pressure to aluminium (not aloominum, that sounds silly) oxide powder then why not apply the same technique to carbon? You could then have diamond glass which is even harder (not to mention more expensive and brittle) and more scratch resistant than sapphire glass."

I'm sorry I can't explain that because I don't understand that field. But, as far as I heard, it's not that simple with the carbon, but yeah, if we could use carbon instead of aluminum, we could have more resistant glass than sapphire.