GT Advanced Tech Announces Bankruptcy

It’s always interested when a company you are following closely suddenly goes belly-up. It should have been expected given that GTAT was not awarded production of larger screens on the iPhones and iPads but instead only producing tiny camera pieces – after investing huge amounts of money in a new production plant in Arizona. My suspicion is the one to benefit the most from this failure will be DOW CORNING, the joint venture between Dow Chemical and Corning. More news is bound to come out on the specifics of this company’s failure, most likely a mixture of production problems and lack of orders given its huge liability.

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