Headline: Apple invests heavily in laser chip company, Finisar
It appears like Apple is taking into the mood for the holiday season. Surprise acquisitions are being made by the Cupertino technology giant. Numerous reports of Apple purchasing Shazam appeared online earlier this week. Just as smartphone users were wrapping their heads around this, the company has announced yet another massive investment already. The Tim Cook-led firm has decided to spend roughly $390 million in a laser chip manufacturer called Finisar.
According to a report by Mac Rumors, Finisar is expected to set up a new manufacturing plant in Texas, following the massive investment made by Apple. They are apparently going to focus on developing the key features that showed up in the 10th-anniversary-iPhone X device, i.e., Face ID, Animojis, and portrait photography to name a few. The brand-new manufacturing plant will be roughly 700,000-square foot giant and will be located in the small town of Sherman, Texas. The unit is expected to generate approximately 500 skilled job requirements for individuals around the area. Finisar will begin work in full-glory in the second half of 2018. These investments are made as a part of Apple’s $1 billion Advanced Manufacturing Fund, which was announced earlier in May this year.
As noted by CNET, Apple is known to acquire companies time to time. However, the firm’s investment in Finisar is being perceived as its effort to funding research. It is only on rare occasions like these that Apple doesn’t acquire a company outright. It is a show of the company’s commitment towards generating technology jobs in the United States of America, especially after it came under fire by President Donald Trump back in 2016 as most of Apple’s manufacturing is based in China. CEO of Apple, Tim Cook, however, was quick to come to defense.
