Paradise lost: Applied Magnetics declares bankruptcy

摘要

In contrast to the beautiful Santa Barbara backdrop, Applied Magnetics Corp. (AMC) announced January 7 that it had filed a voluntary petition for protection under Chapter 11 of the Federal Bankruptcy Code with the U.S. Bankruptcy Court in Santa Barbara. AMC is the first casualty of one of the fiercest periods of price erosion ever experienced in the disk-drive industry.