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Posts by ash471

What makes you think that he didn't believe everything was great as of August 26th? Let's assume for a second that GTAT is a piece of shit company and didn't hit their quality target.  If you are Apple, what do you do? Create a maelstrom about a supplier weeks before you launch your product.  Of course not.  Instead, you tell your dumb shit supplier that you are pushing the launch of sapphire back a year and tell them to prepare for production of the watch.  Your posts...
They may not have had a choice. Apple controlled the timing of the default by withholding payment and a company of that size would be hugely vulnerable to a cash crunch like that. They most likely needed to hit the stop button immediately on installations and they couldn't do that without leaking the fact that the Apple contract was over. If possible, they would have filed bankruptcy the same day they got the news from Apple.My guess is Apple knew they would file...
Just to clarify all materials will bend and return to their prior shape so long as you don't exceed the yield strength. The elastic limit is inversely proportional to length. For example, a 2 inch piece of wood doesn't appear to bend, but a 20 foot board of the same thickness is like a noodle. Sapphire can be made more flexible or less flexible than glass or aluminum depending on its thickness.
So? They did $168 million in Q2. $500 is a lot, but believable even for just the watch. $500m is small cap business.Secondly, it is very very unlikely the CEO would lie about something like that. The CFO, board members, Apple, etc. would all known whether it was a lie or not and wouldn't want to be implicated. I give your hypothesis about 0.001% chance of being correct. The most likely explanation is that Apple had a "chat" with Mr. CEO in September or October.
You keep saying this over and over and I don't think the facts support you. The most likely scenario is that Apple told GTAT they were moving the sapphire screen to next year's iPhone and the first product would be the watch. On the August earnings call the CEO didn't know Apple was going to shit can them. Occam's Razor. Look it up.
It depends on when they knew they were getting shit canned by Apple. Most likely scenario is Apple said we aren't going to make this year's device, let's shoot for next year. That would explain the August earnings call. I very much doubt the CEO would be so stupid to lie about the 4th quarter knowing that the deal with Apple is over. Even if he were a crook, it would serve no material purpose. Certainly the $160k wouldn't justify that. He had already cashed out 10 million....
Maybe, but the problem may also be debt holders for operating capital or supply contractors. Or the bankruptcy may affect IP rights, etc.This is why you have contracts. When sh$t hits the fan, you revert back to the contract to see how what's left will get divided up. Everyone, including Apple is going to lose some money. It just won't be material to Apple's financials. GTAT and many of its other creditors are in trouble.
Dude, the flexural stiffness of gorilla glass vs. sapphire is irrelevant compared to the properties imparted by rest of the phone.
Interesting analysis. It's possible the sapphire was intended for a future iPhone. If they didn't have power yet, they were at least a year out from being in shipping product. That may also explain why the CEO was all thumbs up in August. He may not have gotten the notice from Apple until recently. That would only be possible if delivery was for next year.
Umm, yes it's speculation. Just like this and the WSJ articles are speculation. At least my speculation comports with the facts. Why was Apple building out 10 times the world's sapphire supply? For a watch? The math doesn't add up. And why did Apple withhold payment on the buildout? The watch is going into production. If Apple needed that factory running full tilt to supply watches, only an fuking, idiot would send them into bankruptcy. Apple doesn't even know yet what...
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