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GT Advanced technologie

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  1. [verwijderd] 13 oktober 2014 19:05

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    quote:

    profitmaker schreef op 13 oktober 2014 18:45:

    25 cent zou nog wel kunnen :-)

    En dat maal 5000, kan je toch nog een aardige bladblazer voor kopen!
  2. forum rang 10 DeZwarteRidder 14 oktober 2014 11:58

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    The Lessons Of GT Technologies
    Oct. 14, 2014 3:49 AM ET | 3 comments | About: GT Advanced Technologies, Inc. (GTAT), Includes: AAPL

    The best way to become a great investor is to learn from mistakes: yours or others'.
    Investors who were blindsided by GTAT can derive a number of lessons for the future.

    While there were no warning signs of impeding bankruptcy, there are a number of reasons why investors should have stayed away from GTAT.

    It is fair to say that virtually everyone on Wall Street was surprised when GT Advanced Technologies (NASDAQ:GTAT) bit the bullet with its Chapter 11 filing.

    While some investors sold out when the iPhone 6 was released with a glass screen, the stock remained buoyant on hopes of inclusion in future Apple (NASDAQ:AAPL) devices. Since the declaration of bankruptcy, shares have oscillated between $0.40 and $2.00 due to short-covering, speculation of residual value, and bond-hedging. While it was impossible to see the bankruptcy coming, there are a number of reasons that investors should have kept away from this stock. Here is the 20/20 hindsight.

    2. Do You Really Understand Sapphire?

    Know what you invest in, and invest in what you know. While it's easy to extol the virtues of sapphire, did investors give enough critical thought to its shortcomings? Probably not. While GT pioneered a method of sapphire production, along with some technologies on use, the fact that sapphire is not widely used should have raised a flag to investors. A background in physics, chemistry, engineering, or material sciences would have helped investors understand why sapphire is so rarely used in its current state.

    The main issue which GT solved is production constraint. While sapphire was hard to produce in quantity, GT's furnaces largely solved those issues. The remaining issues with sapphire are numerous in quantity, and difficult in nature. The cost of sapphire is a multiple of that of glass. That is because the energy required to produce it and the cost of cutting are high at the current time. While some of the production costs could have been lowered with the solar facility which was next to GT's Arizona plant, solar panels come at a cost as well. Another issue is weight. Sapphire weighs more than glass and is more prone to shatter. While its resistance to scratching is greater, shattering is a much greater problem than scratching when it comes to phone displays. Manufacturing yields are another issue. While the process for manufacturing glass has been tried and tested for over a millennium, sapphire has never been produced in quantities even nearly close to glass.

    seekingalpha.com/article/2559125-the-...
  4. forum rang 10 DeZwarteRidder 19 oktober 2014 12:16

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    quote:

    mjmj schreef op 19 oktober 2014 11:09:

    brief van kleine aandeelhouder aan de rechter:
    finance.yahoo.com/news/man-invested-a...
    Cooper talked about his investment in GTAT in a letter to Judge Henry Boroff.

    "I took a huge stake in GT Advanced Technologies," he wrote. "I stand to lose most of my retirement account. I believed in the company and I believed in its product."

    He said hearing news of GTAT's Chapter 11 filing felt "like a punch in the gut."

    "I cried for 24 hours knowing I ruined the future for my family," wrote Cooper.

    The point of Cooper's letter seems to be drawing attention to the individual investors who get wiped out when companies like Apple switch suppliers or, in this case, effectively force a company into bankruptcy.

    "Please listen to the shareholders who have been blindsided by this action," he wrote. "I hope somebody will listen."

    This, of course, is the risk of investing. Some investments are going to go south, and you can lose your shirt. This should be a good reminder for anyone who thinks they've found a "sure thing" investment. It can all go poof in the blink of an eye.
  5. forum rang 10 DeZwarteRidder 19 oktober 2014 22:59

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    GT Advanced Technologies Bankruptcy Update
    Oct. 19, 2014 2:32 PM ET | 15 comments | About: GT Advanced Technologies, Inc. (GTAT), GTATQ

    Disclosure: The author is long GTATQ. (More...)
    Summary

    GTAT bankruptcy filings start in earnest an 10/21 as it appears likely that Apple confidentiality veil will be lifted.
    GTAT is moving to shutdown the Mesa facility and it is unclear, what effect, if any, this will have on Apple product roll out.
    Information coming out of the Chapter 11 indicates that GTAT management was consulting with bankruptcy attorneys as early as July first week. This seems inconsistent with prior management guidance.

    It has now been over a week since GT Advanced Technologies (NASDAQ:GTAT) filed for Chapter 11 in New Hampshire. To the surprise and chagrin of the investment community and GTAT's vendors, most of the meaningful information in this case so far have been filed under seal and it is unclear yet as to why GTAT even filed for the bankruptcy.

    Lawyers have been tied up in knots explaining what should or should not be confidential and what should or should not be filed under a seal. Apple's confidentiality contracts, where the confidentiality agreement itself is confidential, have created an unprecedented level of secrecy in what would otherwise be a mundane bankruptcy proceeding.

    The good news for investors is that the secrecy may be coming to an end. Preliminary comments from Judge Henry Boroff indicate that the confidentiality veil may be lifted on Tuesday the 21st. The only party calling for secrecy at this point is Apple. All other parties, including GT Advanced Technologies, the US trustee, counsel representing the creditors, the state of New Hampshire, and the bankruptcy judge are calling for nearly full open disclosure. According to the US trustee, "Public scrutiny of a debtor's conduct and transparency in the bankruptcy process is essential to fostering confidence among creditors and parties in interest regarding the fundamental fairness of the bankruptcy system"

    Judge Boroff is not buying the need for confidentiality of the agreements. According to Boroff, the deal appears to be similar to a complicated construction contract and he is not seeing the kind of intellectual property that deserves confidentiality. He has asked Apple attorneys to provide "extremely specific" items, by page and by line, which require confidentiality. If Apple cannot get very specific, the judge indicated that everything is likely to be unsealed.

    Apple, a company notorious for secrecy, now has to determine what is at stake and what the confidentiality is worth. Barring a long shot deal between Apple and GTAT, we find it unlikely that the documents will stay sealed past next week.

    Very early in the process, GTAT has moved to cease production at Mesa with immediate effect and has started serving termination notices to Mesa employees. Apple is in the middle of a major product rollout and it is unclear what effect, if any, this move would have on Apple products. In addition to the touch sensor and camera lens cover on iPhone, Apple uses sapphire for Apple Watch cover and sensors. Apple's unveiled a series of new iPads last week and there is a good chance that the touch sensor and the camera lens cover on these iPads also use sapphire. While there are no publicly available details on who provides sapphire for these devices, it is possible that Apple was counting on sapphire from the Mesa factory for these devices. If so, can Apple rapidly switch the supply from GTAT to a different vendor?

    From a capacity perspective, we see the combined sapphire use for all of these products as minimal. Even if Apple has to look outside of Mesa for sapphire, we expect that, given sufficient time, Apple will be able to switch vendors without any significant issues. However, the short term impact of such a move on Apple is unclear.
  6. forum rang 10 DeZwarteRidder 19 oktober 2014 23:00

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    Looking at these dates, it appears that Tom Gutierrez's guidance during the second quarter earnings call on 8/5/14 was likely materially misleading. It appears the management may have been hoped for a better outcome but was not blindsided. We are not sure if adhering to a customer NDA can be a sufficient legal justification to not keep stockholders informed of a liquidity risk. This is probably more than sufficient fodder for some of the class action suits to prevail.

    For investors watching the bankruptcy details evolve, next week's proceedings are likely to shed much light into how the bankruptcy came about, the contract between Apple and GT Advanced and also shed light into Apple product plans.

    Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

    seekingalpha.com/article/2573365-gt-a...
  7. forum rang 10 DeZwarteRidder 19 oktober 2014 23:07

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    Met de info uit het bovenstaande artikel wordt mijn mening bevestigd dat GTAT allang op de hoogte was van grote problemen met saffier en Apple (sinds ca juli) en dat men al rekening hield met een faillissement tijdens de bekendmaking van Q2-resultaten.

    De prognose voor 2016 was natuurlijk volkomen belachelijk en volledig verzonnen.
  8. [verwijderd] 20 oktober 2014 11:02

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    MISmanagemnt:
    door zo te handelen hebben ze het voortbestaan van de Zonne divisie ook in de waagschaal gelegd:
    99 luftballonne klinkt het nu op de radio 2:)
  14. forum rang 10 DeZwarteRidder 21 oktober 2014 17:24

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    In court papers filed Tuesday, GT Advanced asked for an extension until noon, because “the parties are on the cusp of a consensual global settlement” in the fight for information about what happened between the smaller company and Apple, which had been considering using GT Advanced-made synthetic sapphire material in the screens for its iPhone.

    “We’re optimistic that in the next hour or so we will have a signed settlement agreement with Apple. Optimistic, no guarantees of that,” said Luc Despins, attorney for GT Advanced. If and when there’s a deal with Apple on unsealing key bankruptcy court documents, Mr. Despins said, the terms will be spelled out. The proposed deal, he said, “ resolves a lot of the issues before the court” when it comes to explaining why GT Advanced tumbled into bankruptcy.

    GT Advanced and lawyers for the official committee of unsecured creditors in GT Advanced’s bankruptcy didn’t respond to questions Tuesday about who is involved in the “global settlement.” The continued sealing has been challenged by Dow Jones & Co., publisher of The Wall Street Journal, by U.S. Trustee William Harrington of the Department of Justice and by New Hampshire Attorney General Joseph Foster.

    In a filing earlier, the official creditors committee indicated it had reached a deal with Apple on the sealing issue. The panel said it had “recently negotiated a comprehensive confidentiality agreement with the major stakeholders that will provide the Committee with full access to all necessary information.” Lawyers for the committee have not responded to requests for more details on the agreement with Apple on the sealing.

    Apple could be a prime target in GT Advanced’s Chapter 11 case, one where debts top $1.3 billion and the plan is to exit the business that has brought in some 60% of the revenues, the manufacture of synthetic sapphire screen material. That depends on what is in routine court filings setting out the causes of GT Advanced’s sudden tumble into Chapter 11 bankruptcy.

    What little is known is that Apple was involved in a $578 million financing arrangement that set GT Advanced up in the business of making the screen material. Instead of GT Advanced’s sapphire, however, the new generation of iPhones was sent out with screens made from a Corning Inc.GLW +1.63% material.

    In a closed-door session earlier this month, Judge Henry Boroff ordered key bankruptcy documents closed, bowing to GT Advanced’s arguments that public discussion of its arrangement with Apple could bring a $50 million damage award down on GT Advanced’s head. After conferring with Apple and GT Advanced, with a lawyer from the Justice Department present, the judge permitted GT Advanced to file under seal a supplemental declaration explaining the bankruptcy. Monday, he allowed GT Advanced to push back Apple’s deadline for explaining the need for confidentiality, from noon to 5 pm. Papers that were supposed to be filed at 9 am will now be filed at noon, hours into the hearing that has begun in the U.S. Bankruptcy Court in New Hampshire.
  16. forum rang 10 DeZwarteRidder 21 oktober 2014 17:31

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    Het LIJKT erop dat Apple koste wat kost de overeenkomst met GTAT geheim wil houden en daar geld voor wil betalen.
    Als de rechter daar mee instemt, dan ZOU Apple wellicht de schuld van GTAT geheel of gedeeltelijk willen kwijtschelden.

    Ik heb er al eerder op gewezen dat zowel topfiguren van GTAT als Apple liever niet de vuile was op straat willen gooien omdat dan duidelijk wordt dat ze allemaal vreselijk hebben zitten blunderen.

    Ook al zou dit doorgaan, dan denk ik niet dat dat voor de aandeelhouders van GTAT veel verschil gaat uitmaken; het gebrek aan kasgeld blijft gewoon bestaan.

    Deze geruchten zijn in ieder geval de oorzaak van de recente koersopleving.

    Puur theoretisch zou Apple ook nog een bod op de aandelen kunnen doen van b.v. 1 dollar, dan kunnen ze GTAT in eigen beheer ontmantelen/verkopen zonder pottenkijkers.
  18. forum rang 10 DeZwarteRidder 21 oktober 2014 17:47

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    quote:

    BartDelft schreef op 21 oktober 2014 17:29:

    Wat zijn je gedachtes Ridder? Spike omhoog en alsnog the end? Of gaan ze misschien nog door met Solar?
    Bart
    De diverse onderdelen van GTAT zullen heus wel doorgaan in een of andere vorm, maar de huidige aandeelhouders zullen daar geen noemenswaardig voordeel bij hebben.
  19. forum rang 6 !@#$!@! 22 oktober 2014 12:13

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    Ik vind het een rare deal. GTAT krijgt controle over APPLEs onderpand om die te verkopen om de schulden aan APPLE mee te voldoen. In ruil hiervoor zullen ze de overeenkomst geheim houden en geen claims naar APPLE doen. (leek mij enige hoop op enig geld voor aandeelhouders)

    Ik zie de winst voor GTAT niet in deze deal ? Een makkelijkere doorstart voor de andere onderdelen ?

    PS weet iemand waar je de koersen kan zien van de schulden van GTAT ?
  20. [verwijderd] 22 oktober 2014 12:17

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    quote:

    !@#$!@! schreef op 22 oktober 2014 12:13:

    Ik vind het een rare deal. GTAT krijgt controle over APPLEs onderpand om die te verkopen om de schulden aan APPLE mee te voldoen. In ruil hiervoor zullen ze de overeenkomst geheim houden en geen claims naar APPLE doen. (leek mij enige hoop op enig geld voor aandeelhouders)

    Ik zie de winst voor GTAT niet in deze deal ? Een makkelijkere doorstart voor de andere onderdelen ?

    PS weet iemand waar je de koersen kan zien van de schulden van GTAT ?
    En de directie blijft lekker zitten tegen vorstelijk salaris en wellicht nog bonus ook. Welkom in de financiele wereld:-)
  21. [verwijderd] 22 oktober 2014 12:17

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    Wat mij opvalt is dat ze wel heeeuuulll graag die overeenkomst geheim willen houden.

    Ik ben eerder ook benieuwd naar de rechtzaken naar onder andere de CEO. Ivm met de (door DZR goed opgemerkte) verkopen van aandelen vlak voor 9/9.

    Bart
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