- Apple’s (NASDAQ:AAPL) Advanced Manufacturing Fund invests $390M in Face ID supplier Finisar (NASDAQ:FNSR).
- Finisar recently began production quantity shipping of its vertical-cavity surface-emitting lasers (VCSELs), a laser technology used in the iPhone X’s facial recognition system and in Portrait-mode pictures.
- Apple plans to buy 10 times more VCSELs in Q4 than in previous quarters.
- Apple’s investment is meant to bolster domestic suppliers, speed production times, and boost R&D. Finisar will remodel a 700K-square-foot plant in Texas and create 500 high-skill jobs.
- Finisar shares are up 21% premarket.
- Update: Stocks moving with the Finisar news include 3D sensor maker Lumentum (NASDAQ:LITE), which is down 5.8% premarket. VCSEL maker II-VI (NASDAQ:IIVI) is up 1.6%. Other optical stocks: Applied Optoelectronics (NASDAQ:AAOI) is down 1.4% and Acacia Communications (NASDAQ:ACIA) is up 0.03%.
- Now read: Apple: Revisiting My iPhone X Projections
Original article