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Non-Tech : Kirk's Market Thoughts
COHR 186.41-4.1%3:59 PM EST

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To: Jerome who wrote (2293)4/15/2018 3:50:02 PM
From: Kirk ©   of 26935
 
I hope you are OK after the huge GTAT bankruptcy...

siliconinvestor.com

Did you get anything for the stock or did Apple and creditors get everything?
Apple's sapphire glass supplier has filed for Chapter 11 bankruptcy with plans to shut down two production plants and lay off 890 workers. The supplier, GT Advanced Technologies (GTAT), says that it's burning through an unsustainable amount of money at the Arizona plant it opened with Apple just within the last year. In addition to requesting approval to shut down that plant, GTAT has also asked that a New Hampshire bankruptcy court terminate its agreements with Apple, which it describes in a filing as "oppressive and burdensome." GTAT intends to come out of the bankruptcy by restructuring around its core businesses, including selling sapphire furnaces.
It's not clear how disruptive this may be for Apple, which had clearly intended on making heavy use of this partnership to outfit its smartwatches and potentially its smartphones and tablets with this type of glass.
More at theverge.com

Finisar has a deal now to supply VCSEL arrays to Apple and they got cash upfront so I hope they structured the deal such that if Apple changes supplier or fails to take delivery that it isn't harmful.
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