Shares of Finisar, a Sunnyvale, California-based optical
components maker, rose 14 percent to $22 in premarket trade on
The investment is Apple's second from its $1 billion advanced
manufacturing fund that seeks to foster innovation and create
jobs, Apple said. The first investment was a $200 million
infusion into Gorilla Glass maker Corning Inc in May.
Finisar will use the money to transform a previously closed
700,000-square-foot plant in Sherman, Texas to make high volumes
of laser diodes called vertical-cavity surface-emitting lasers,
In the fourth quarter of 2017, Apple said it would buy 10 times
more VCSELs than were previously made worldwide over a similar
The Sherman facility is expected to ship products starting in
the second half of 2018.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Savio
D'Souza and Sai Sachin Ravikumar)
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