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GT Advanced Technologies Inc May Pursue Legal Claims Against Apple

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Mark Melin
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GT Advanced Technologies Inc (NASDAQ:GTAT) wants to get back to its roots, selling Sapphire furnaces, and get out of the business of producing Sapphire products for Apple Inc. (NASDAQ:AAPL).

GT Advanced Technologies

GTAT cutting 890 jobs in Arizona

In the wake of Apple Inc. (NASDAQ:AAPL) announcing that it was perusing a relationship with a competing supplier, Gorilla Glass, to furnish protective screens for the iPhone 6, Reuters is reporting today that GT Advanced Technologies Inc (NASDAQ:GTAT) will cut 890 jobs in Arizona and walk away from its investment which is losing $1 million per day. The company is shuttering Sapphire production operations in Mesa, Arizona and Salem, Massachusetts as quickly as...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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