“Shares in Lumentum Holdings Inc soared 23 percent on Tuesday after the optical components maker said it shipped more than $200 million worth of 3D sensing lasers to a customer that two analysts identified as Apple Inc.,” Sonam Rai and Arjun Panchadar report for Reuters. “Lumentum has been seen as the primary supplier of vertical-cavity surface-emitting lasers (VCSELs) that power iPhone X’s intriguing Face ID feature and the TrueDepth camera technology.”

“The $240 million in sales between September and December roughly line up with 60 million phones made, according to MKM Partners analyst Michael Genovese,” Rai and Panchadar report. “Lumentum reported a 52.7 percent jump in revenue to $404.6 million and a profit of $1.67 per share in the second quarter ended Dec. 30. Analysts on average had expected revenue of $357.8 million and a profit of $1.12 per share, according to Thomson Reuters I/B/E/S.”

“Lumentum forecast net revenue in the range of $280 million to $305 million and profit of 65 cents to 80 cents for the current quarter, guiding well below analysts’ estimates for revenue of $319.93 million and profit of 86 cents,” Rai and Panchadar report. “Lumentum said it expected demand to rebound in the second half of its fiscal year. Rosenblatt’s Jun Zhang estimated Apple to procure 120-150 million 3D sensing components for its product ramp in second half of 2018, which comes in line with Lumentum’s expectations.”

Read more in the full article here.

MacDailyNews Take: It’ll be interesting to see how quickly Apple’s investment in Finisar affects competition among VCSEL-makers.

SEE ALSO:
Finisar deal helps Apple block Android rivals’ path to AR features – December 14, 2017
Apple makes Trump-friendly investment in Finisar – December 13, 2017
Apple is backing up iPhone X’s Face ID and AirPods with American jobs – December 13, 2017
How Apple and Finisar are transforming the future of Sherman, Texas – December 13, 2017
Apple awards $390 million to VCSEL-maker Finisar; award will create 500 high-skill jobs at Sherman, Texas facility – December 13, 2017