Apple's sapphire supplier GTAT is under SEC investigation

On the morning of November 7, Apple’s sapphire glass supplier GT Advanced Technologies (hereinafter referred to as GT) announced on Thursday that the U.S. Securities and Exchange Commission (hereinafter referred to as “SEC”) requested stock transaction information dating back to January 2013. GT said the SEC made the request in a letter dated October 15.

In addition, the SEC also requested information about its sapphire business and a stock issuance.

GT filed for bankruptcy protection on October 6 this year, causing the company's market value to shrink significantly. The market therefore suspects that GT’s partnership with Apple may have ended.

As investors are optimistic about GT’s cooperation with Apple, the company’s stock price has risen from around US$3 in 2013 to its highest point of US$19.77 in July 2014.

After Apple launched its new large-screen iPhone 6 and 6 Plus, it was discovered that the company did not use scratch-resistant sapphire glass, and GT’s stock price plummeted.

Apple said in October this year that GT has an ambitious vision for sapphire glass production, but it is not yet fully prepared.

After filing for bankruptcy protection, GT's stock price fell to $0.30, and was trading around $0.55 on Thursday.

A GT spokesman declined to comment on the SEC investigation.