GT Advanced Technologies (GTAT) said in filings that its agreements with Apple were "oppressive and burdensome." The company told the bankruptcy court that the only way to stop the bleeding was by terminating its deal.
Apple said it was surprised by GT Advanced Technologies's (GTAT) decision to file for bankruptcy protection. GTAT makes furnaces used in the production of synthetic sapphire, and the two companies had partnered on a massive sapphire manufacturing facility outside Mesa, Arizona. The firm filed for Chapter 11 bankruptcy protection on Monday, October 8th, and Apple's statement characterized the move as "surprising."
GT Advanced Technologies CEO Tom Gutierrez has already been dealing with the headaches that go along with his company filing for bankruptcy protection, and now those headaches may be growing following the news that he sold more than 9,000 shares of company stock the day before Apple announced the iPhone 6. Apple didn't use GTAT's sapphire glass for the new iPhone models as had been expected, which drove the glass maker's stock down 13 percent.
GT Advanced Technologies (GT) filed for Chapter 11 bankruptcy protection on Monday, a move that would give the sapphire producer and Apple supplier a chance to reorganize its finances and debt. GT's move may be surprising to some, considering the US$578 million deal the company inked with Apple, and it's proof that being an Apple supplier isn't an easy job.
Apple will hold its next major media event on October 16th, according to unnamed sources cited by Re/code's John Paczkowski. The event will be held in Apple's Town Hall Auditorium in Cupertino, CA, and it will be centered around new iPads and iMac models.
Microsoft unveiled its grand plan for moving past the Windows 8 legacy, which is to skip a number and go straight to Windows 10. Hey, wow. It's just like OS X 10.10 Yosemite! Imagine that?
The FBI and other law enforcement folk are tense about Apple's gleeful proclamationt that the company can't unencrypt our data. FBI Director James Comey told reporters that he is "very concerned" about tech companies like Apple and Google stepping up their privacy game and protecting customer data. Bryan Chaffin argues law enforcement has only itself to blame.
Back in the early days of the iPhone, it was a fairly small device that easily fit in a shirt pocket or jeans pocket.
Today, the power of the iPhone and the demands we make of it virtually require a larger display. So how do we carry it?
John Martellaro looks at a classic SciFi concept.
Apple said on Thursday that only nine customers have complained about bent iPhone 6 or 6 Plus devices, and that "With normal use a bend in iPhone is extremely rare." The company has gone on its equivalent of a full-court press, offering the statement to The Wall Street Journal, CNBC, Re/code, and other mainstream outlets at once.
Move over, Heartbleed, because here comes Shellshock. This security threat has the potential to be even bigger than Heartbleed because of the way it lets attackers remotely access victims computers through the Bash command line shell for Unix and Linux, plus it potentially affects Mac OS X and the iPhone, iPad, and iPod touch.
TMO Weekly Sponsor
TMO Daily Observations: 2014-10-30
Apple CEO Tim Cook says he's gay, which puts him in a unique position as an equal rights advocate. Bryan…
ACM 278: Apple is the New Microsoft and Thinking Differently about iPhone
Apple is the dominant force in several markets, so does that make the company the new Microsoft? Jeff and Bryan…