- Finisar (NASDAQ:FNSR) gains 2.4% to $18.60 premarket after telling a local news outlet that production will soon begin at its Sherman, Texas plant.
- VP and GM Curtis Barratt tells TV station KXII: “About 90 percent of the equipment is on order, and we’ll bring that in starting in April or May. We’ll start the line first articles by August and production will get going by October.”
- Last December, Apple (NASDAQ:AAPL) paid Finisar $390M against future orders, which went towards funding the 700K square foot plant in Sherman.
- Finisar produces vertical-cavity surface-emitting lasers (VCSELs), a laser tech used in the iPhone X’s Face ID system and Portrait-mode pictures.
- Bloomberg sources recently said three new iPhones will release this year and all will include Face ID.
- Previously: Bloomberg: Apple releasing three iPhones this fall (Feb. 26)
- Previously: Apple invests $390M in Finisar (Dec. 13, 2017)
- Now read: Cisco: Out Of The Penalty Box
Original article