Apple, Inc. Is Making a Massive -- and Brilliant -- Bet on 3D Sensing

When Apple (NASDAQ: AAPL) decides to bet on a technology, it bets big.

The Mac maker has just announced that it is awarding Finisar (NASDAQ: FNSR) a $390 million investment out of its $1 billion Advanced Manufacturing Fund. It's the second award out of the fund, which was set up in May, following a $200 million investment in glass supplier Corning.

Finisar, which is one of several suppliers for vertical-cavity surface-emitting lasers (VCSELs) that enable 3D sensing, surprised investors earlier this month when it disclosed it had acquired a new manufacturing facility in Sherman, Texas, for $20 million. Now we know that Apple is involved in that expansion project, as the investment will help fund the facility, which is expected to commence volume production in the second half of 2018.

Source: Fool.com