All items tagged with "GTA Advanced technologies"

Bankrupt sapphire supplier seeks to cut ties with ‘oppressive’ Apple

The iPhone 6's Touch ID sensor is greatly improved over the 5s &mdash for me, anyway. Photo: Jim Merithew/Cult of Mac

With GTAT gone, who will supply the sapphire for Apple components like Touch ID? Photo: Jim Merithew/Cult of Mac

We’ve witnessed a quick unraveling of GT Advanced Technologies (GTAT), Apple’s main sapphire supplier, since the company suddenly filed for bankruptcy earlier this week.

New court filings indicate that GTAT wants to take legal action against Apple for its “oppressive and burdensome” terms. The sapphire maker also plans to shut down its Arizona plant by December 31st, which leaves Apple’s sapphire production in limbo. The Arizona plant shuttering will also result in the loss of 890 jobs.

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Apple’s Sapphire Glass Manufacturer Gets Big Share Price Boost

sapphire-screen2

GT Advanced Technologies Inc. shares received a nice boost on Tuesday, on the back of reports that Apple will use the company’s sapphire glass for its next generation iPhone cover.

GT shares posted a new 52-week high of $12.72, while analysts at Canaccord Genuity also raised their price targets on the company from $13 to $15.

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