Apple sapphire partner GT Advanced Technologies files for bankruptcy

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  • Reply 101 of 220
    Quote:

    Originally Posted by TomMikele View Post



    Sometimes the comments are just so ridiculous, all I can do is shake my head. And I don't mean ridiculous like on some other tech sites where the Apple lovers and haters attack each other on a erosional level. Most of the remarks above mine, but not all of them, reflect just about zero knowledge of business, bankruptcy law, Apple's deal with GT any roll they have in that business. There is a lot of ungrounded, baseless speculation to go along with a lack of knowledge. What the heck, that never stopped most of you from loading on and then lauding each other's remarks.



    Okay. Now that you've claimed others don't know what they are talking about, how about enlightening us.

  • Reply 102 of 220
    Quote:

    Originally Posted by sog35 View Post

     

    This may make me sell my Apple stock alot sooner than expected.


    I hope so. Soon, please. Can't wait for you to spare us the hyperventilated crap.

  • Reply 103 of 220
    rogifanrogifan Posts: 10,669member
    Somebody needs to take a deep breath and RELAX. Apple stock is flat to slightly up today on a day when the market overall is flat. Clearly the market isn't rushing to judgement or overreacting on this news.
  • Reply 104 of 220
    Quote:

    Originally Posted by sog35 View Post

     

    My point is this:

     

    If Apple due dilegance did not reveal a weakness in GTA what kind of dilegance did they do for Beats?

     

    If GTAT was able to scam Apple out of $500M what kind of confidence do I have in their future acquisitions or aliances?


    Beats was already selling products. They had a real value. 

     

    This deal is part of the Apple game plan to buy technology instead of inventing it. This is symptomatic of putting money above quality. They wanted Beats for quick profit instead of fixing iTunes and creating their own high quality headphones. 

     

    The GT sapphire deal was Apple getting burned by a scammer. Sure he had high tech equipment and some research going but he wasn't getting results. Thus he lied and perhaps had his team members lie to Apple to get them to give up their money for the planned production of sapphire glass. There was fraud involved and Apple fell for it. 

     

    Apple needs to decide if they want to continue with the fraudulent production claims and make it work or just sue the guy and move on to somebody else who can produce what they want. If they sue, the company will collapse and nobody will get anything. If they go along with it maybe something can eventually be done with it. 

  • Reply 105 of 220
    malaxmalax Posts: 1,598member
    Quote:
    Originally Posted by sog35 View Post

     

     

    This GTAT news now is making me question the whole Beats deal.

     

    if Apple's due dilegance could not identify GTAT as a scam company how great was their dilegance about Beats? Did they just throw $3B away with Beats?

     

    This may make me sell my Apple stock alot sooner than expected.

     

    I'm seeing real cracks in Apple for the first time in a long time:

     

    failed GTAT deal

    iOS8 update making iPhones useless

    not having enought iPhone 6+ ready for launch

    Blah designed of iPhone6

     

    If we ever see $110 I'll probably sell all my shares.


     

    Imagine what the court papers would look like if sog35 or brlawyer ever file for divorce (not from either other; as far as I know they aren't married to each other--or at all for that matter).  Grounds for divorce:

    1. the car she bought turned out to be a lemon

    2. one time she forgot to lock the house when she went to work

    3. we posted fliers for a block party and way more people than we expected showed up and some people didn't get enough to eat; she was responsible for buying the food.

    4. she used a font I don't like on that flier for the too-successful block party.

  • Reply 106 of 220
    gatorguygatorguy Posts: 24,176member
    Beats was already selling products. They had a real value. 

    This deal is part of the Apple game plan to buy technology instead of inventing it. This is symptomatic of putting money above quality. They wanted Beats for quick profit instead of fixing iTunes and creating their own high quality headphones. 

    The GT sapphire deal was Apple getting burned by a scammer. Sure he had high tech equipment and some research going but he wasn't getting results. Thus he lied and perhaps had his team members lie to Apple to get them to give up their money for the planned production of sapphire glass. There was fraud involved and Apple fell for it. 

    Apple needs to decide if they want to continue with the fraudulent production claims and make it work or just sue the guy and move on to somebody else who can produce what they want. If they sue, the company will collapse and nobody will get anything. If they go along with it maybe something can eventually be done with it. 
    Is there some claim of fraud being made by Apple or the SEC that I've missed? So far there's not been much said by any of the involved parties AFAIK.
  • Reply 107 of 220
    kibitzerkibitzer Posts: 1,114member
    Quote:

    Originally Posted by Smallwheels View Post

     

    Beats was already selling products. They had a real value. 

     

    This deal is part of the Apple game plan to buy technology instead of inventing it. This is symptomatic of putting money above quality. They wanted Beats for quick profit instead of fixing iTunes and creating their own high quality headphones. 

     

    The GT sapphire deal was Apple getting burned by a scammer. Sure he had high tech equipment and some research going but he wasn't getting results. Thus he lied and perhaps had his team members lie to Apple to get them to give up their money for the planned production of sapphire glass. There was fraud involved and Apple fell for it. 

     

    Apple needs to decide if they want to continue with the fraudulent production claims and make it work or just sue the guy and move on to somebody else who can produce what they want. If they sue, the company will collapse and nobody will get anything. If they go along with it maybe something can eventually be done with it. 




    That's a plausible scenario, but so far there's no hard public evidence to support it. Let's wait a bit and see.

  • Reply 108 of 220
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by sog35 View Post

     

     

    Sorry but HALF A BILLION is not fine.  When you add in opportunity cost this will probably close to ONE BILLION.

     

    When your CEO gives a company ONE BILLION DOLLARS and they go bankrupt less than 12 months later it falls on the CEO.

     

    Sorry, TIM COOK fuked up.  Read my post history.  I've been a strong supporter of Cook.  But facts are facts.  And MR COOK just got duped out of HALF BILLION.




    you really don't know anything about the facts, since i assume you aren't Cooks executive secretary.

     

    you just come off kinda spastic. 

  • Reply 109 of 220
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by sog35 View Post

     

    This shows a lack of judgement from Mr Cook.  If GTAT scammed him of $1B whats next? \


     

    you've invented the $1B figure. it exists purely in your own personal narrative, not in the facts of this, which we aren't privy to.

  • Reply 110 of 220
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by sog35 View Post

     

     

    Its not about how much Apple loses.

     

    Its the fact that they put their trust in a total BS company.  It shows their due dilegance was total CRAP.  How can you risk the launch of your next big thing to a CRAP company?

     

    My confidence in Mr Cook is at an all time low right now.  My loss in GTAT is insignificant.  It was about 2% of my entire portfolio.  Now I'm having questions if I should sell my Apple shares which is a much bigger portion of my portfolio (25%)




    doom! DOOOOM! apple/cook/iphone/iwatch is DOOOOMED!!! 

     

    do you have any idea how juvenile and insane your posts come off?

  • Reply 111 of 220
    Quote:

    Originally Posted by sog35 View Post

     

     

    You don't need to be an arm chair CEO to know this:

     

    Step 1 - Give a company $500M

    Step 2 - Rely on said company for your next big thing

    Step 3 - Company goes bankrupt in less than 12 months

     

    Face it: Tim Cook got duped into giving GTAT a $500M zero interest loan.  Now Apple is stuck with hundreds of millions of dollars worth of factory/equipment that they need to sell for pennies on the dollar


     

    You realize Apple's already gotten a lot of stuff back from that investment in GTAT, right? They've gotten camera lenses, touch ID sensors, and watch screens. Probably several hundred million dollars worth of stuff. It's not like the money evaporated with no payoff.

     

    Part of that would have also gone into R&D, possibly on phone screens, after which Apple may have simply decided that it wasn't working out, that sapphire had too many drawbacks to be used as a screen - hence their decision to stick with Corning. That doesn't mean the money was wasted. Not all research is 100% successful. Sometimes you just need to soak a bit of a loss while trying to figure out a way forward to future technology. They undoubtedly got invaluable information out of the research which can guide future goals.

     

    So calm down, guy. 

  • Reply 112 of 220
    brlawyerbrlawyer Posts: 828member
    Quote:

    Originally Posted by Rogifan View Post



    Got to love all the arm chair CEOs here. They're posting on an Internet rumor site message board while Tim Cook is running the most valuable company in the world. Btw, Apple stock is basically flat today (NASDAQ is slightly down). Clearly Wall Street isn't treating this as some big Tim Cook blunder.



    This condescending comment is exactly the same other companies used to make when talking about the "smaller", "nimbler" Apple of before - "we are the most valuable company", "we know our market", blablabla.

     

    I was buying Apple computers when everyone and their dog proclaimed the company dead...so careful about your hubris above; pride comes before the fall after all.

  • Reply 113 of 220
    rogifanrogifan Posts: 10,669member
    sog35 wrote: »
    its called opportunity cost.

    The iPhone6 suppose to have sapphire screen. How many sales were lost because of that?
    The AppleWatch suppose to come out this year. How many sales were lost because of that?

    You bet this GTAT deal cost hundreds of millions in adminstrative costs/lawyer costs, ect and are sure to cost more as this is dragged through bankruptucy court.

    Even just the stock price.  Before news came out the stock was up almost a $1.  Now its flat.  Apple is being dragged in the mud of GTAT.  To be associate with such a scam company is shameful. 

    iPhone 6 was supposed to have a sapphire screen? Says who? It's certainly not something Apple ever said. If you bought GT stock based on the Apple rumor mill you only have yourself to blame.
  • Reply 114 of 220
    It occurs to me that those who are complaining [the loudest] that Tim Cook did not exercise due diligence when making the GTAT investment ...

    are guilty of the very same fault when making [B][I] their [/I][/B] personal investment!
  • Reply 115 of 220
    slurpyslurpy Posts: 5,382member

    Holy shit, this came out of nowhere. I was honestly SO close to investing in this a month ago. Dodged that bullet! 

  • Reply 116 of 220
    malaxmalax Posts: 1,598member
    Quote:

    Originally Posted by sog35 View Post

     

     

    its called opportunity cost.

     

    The iPhone6 suppose to have sapphire screen. How many sales were lost because of that?

    The AppleWatch suppose to come out this year. How many sales were lost because of that?

     

    You bet this GTAT deal cost hundreds of millions in adminstrative costs/lawyer costs, ect and are sure to cost more as this is dragged through bankruptucy court.

     

    Even just the stock price.  Before news came out the stock was up almost a $1.  Now its flat.  Apple is being dragged in the mud of GTAT.  To be associate with such a scam company is shameful. 


     

    Let's take these points in order, shall we...

     

    1. BS.  There is zero evidence that the iPhone 6 was "supposed" to use sapphire.

    2. BS.  There is zero evidence that the Apple Watch was "supposed" to come out this year nor that anything about the sapphire supply chain has impacted its schedule.

    3. If this deal cost "hundreds of millions" then I'm in the wrong line of work.  If Tim Cook pays his people $100s of millions of dollars on paperwork for a $0.5B deal, then he should be fired.

    4. So if the stock is up $2 by then end of the week, using this logic, it's all good?  There is no evidence that GTAT is a "scam company."

     

    Please do let us know when you liquidate your AAPL investment, so we can celebrate.

  • Reply 117 of 220
    brlawyerbrlawyer Posts: 828member
    Quote:

    Originally Posted by sog35 View Post

     

     

    This GTAT news now is making me question the whole Beats deal.

     

    if Apple's due dilegance could not identify GTAT as a scam company how great was their dilegance about Beats? Did they just throw $3B away with Beats?

     

    This may make me sell my Apple stock alot sooner than expected.

     

    I'm seeing real cracks in Apple for the first time in a long time:

     

    failed GTAT deal

    iOS8 update making iPhones useless

    not having enought iPhone 6+ ready for launch

    Blah designed of iPhone6

     

    If we ever see $110 I'll probably sell all my shares.




    I started seeing those cracks when the awful Beats deal was announced - not even for financial reasons (although its "advantages" are null, to say the least); but just because, for the first time in 15 years or so, Apple went after something else considered "cool", when Apple ITSELF has always been the epitome of cool and innovative.

     

    And let's not even talk about quality of service issues or the ridiculous, unacceptably botched streaming of the last event...this alone should have raised concerns in sane Apple-loving people.

  • Reply 118 of 220
    rogifanrogifan Posts: 10,669member
    brlawyer wrote: »

    This condescending comment is exactly the same other companies used to make when talking about the "smaller", "nimbler" Apple of before - "we are the most valuable company", "we know our market", blablabla.

    I was buying Apple computers when everyone and their dog proclaimed the company dead...so careful about your hubris above; pride comes before the fall after all.

    My hubris? I'm not making claims and hyperventilating without all the facts like some here are.
  • Reply 119 of 220
    rogifanrogifan Posts: 10,669member
    It occurs to me that those who are complaining [the loudest] that Tim Cook did not exercise due diligence when making the GTAT investment ...

    are guilty of the very same fault when making their personal investment!

    BOOM!
  • Reply 120 of 220
    brlawyerbrlawyer Posts: 828member
    Quote:

    Originally Posted by sog35 View Post

     

     

    its called opportunity cost.

     


     

    Most people here have no idea what "opportunity cost" means; so good luck trying to convince them.

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