Shares were up 28 percent Wednesday morning.
Apple announced the investment as the second from its $1 billion Advanced Manufacturing Fund. Finisar’s chips enable depth and proximity sensing, making possible some of the iPhone X’s standout features like Face ID, Animoji and ARKit.
With the investment, Finisar will transform a shuttered, 700,000-square-foot manufacturing plant in Sherman, Texas, into a high-tech facility developing more of the iPhone X-enabling chips.
Laser chip maker Finisar jumps 25% on news that Apple's investing 0 million in the company