{"id":33074,"date":"2014-10-07T12:02:11","date_gmt":"2014-10-07T16:02:11","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=33074"},"modified":"2014-10-07T12:02:11","modified_gmt":"2014-10-07T16:02:11","slug":"gt-advanced-technologies-inc-nasdaqgtat-spikes-up-by-63-after-seeking-bankruptcy-protection","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/gt-advanced-technologies-inc-nasdaqgtat-spikes-up-by-63-after-seeking-bankruptcy-protection-33074","title":{"rendered":"GT Advanced Technologies Inc (NASDAQ:GTAT) Spikes Up By 63% After Seeking Bankruptcy Protection"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 10\/07\/2014 (wallstreetpr) \u2013 GT Advanced Technologies Inc (NASDAQ:GTAT) which came into global prominence as the supplier of much sought after sapphire glass used by Apple Inc. (NASDAQ:AAPL) on its iPhone home button filed for bankruptcy earlier today. On the back of the news becoming public, the investors trooped into the stock leading to a huge 64 percent increase in its share price as of 12:00 ET. The Wall Street Journal which first broke the news has indicated that the firm was forced to seek legal protection due to a payment dispute that is brewing between itself and its supplier.<\/p>\n<p style=\"text-align: justify;\"><strong>Apple Inc, GT Advanced Technologies Inc Partnership<\/strong><\/p>\n<p style=\"text-align: justify;\">Apple Inc. (NASDAQ:AAPL) had made public its plans last year to pour in nearly $578 million into GT Advanced Technologies Inc (NASDAQ:GTAT) proposed manufacturing plant expansion. The specialized glass maker had announced major plans to expand its production capacity to meet the increased demand for its product from Apple Inc. (NASDAQ:AAPL). Over the past few months, the component manufacturer has been facing delays in building out the new furnaces as part of the expansion project.<\/p>\n<p style=\"text-align: justify;\"><strong>Analyst Comments<\/strong><\/p>\n<p style=\"text-align: justify;\">Analysts had in the recent past started to comment about the frayed relationship between the two firms, after it became public that Apple Inc. (NASDAQ:AAPL) had not used the synthetic sapphire produced by GT Advanced Technologies Inc (NASDAQ:GTAT) in its most recent iPhone 6 product releases. The Wall Street Journal has reported that the sapphire manufacturer has in its submissions to U.S. Bankruptcy Court in Manchester, New Hampshire listed assets of $1.5 billion. It has also listed liability of $1.3 billion. The numbers were reported as of June 28th.<\/p>\n<p style=\"text-align: justify;\"><strong>Future Course Of Action<\/strong><\/p>\n<p style=\"text-align: justify;\">GT Advanced Technologies Inc (NASDAQ:GTAT) has also disclosed that it will continue to pursue its day to day operations even as it goes about reorganizing its business.<\/p>\n<p style=\"text-align: justify;\">Shares of GT Advanced Technologies Inc (NASDAQ:GTAT) are sharply up by 63.12% and currently trading at $1.31.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 10\/07\/2014 (wallstreetpr) \u2013 GT Advanced Technologies Inc (NASDAQ:GTAT) which came into global prominence as the supplier of much sought after sapphire glass used [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":33077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6899,4573,4574],"stock_ticker":[],"class_list":["post-33074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-gt-advanced-technologies-inc","tag-gt-advanced-technologies-inc-nasdaqgtat","tag-nasdaqgtat","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GT Advanced Technologies Inc (NASDAQ:GTAT) Spikes Up By 63% After Seeking Bankruptcy Protection - Wall Street PR<\/title>\n<meta name=\"robots\" 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