Finisar soars after Apple awards $390 million order (FNSR, AAPL)

pulse

December 13, 2017 11:13 PM

Finisar is hoping to reopen a manufacturing plant in Texas with the help of Apple's investment.

Finisar is hoping to reopen a manufacturing plant in Texas with the help of Apple's investment. The plant is expected to create 500 jobs in the area.
The new plant will produce laser sensors that enable technology like FaceID, ARKit and the proximity features of the AirPods.
The investment is part of a larger $1 billion plan from Apple, which falso included an investment in glass maker Corning.
Finisar shares are down 16.63% this year, including Wednesday's gains.

*This post was corrected to say Apple awarded the company a $390 million order. Previously it said Apple made a $390 million investment in Finisar. The headline has been changed to reflect the correction.

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