Coherent Deepens Partnership With Apple On Laser Tech

Coherent Corp. (COHR) has signed a new multi-year supply agreement with Apple Inc. (AAPL) on Thursday to produce vertical-cavity surface-emitting lasers (VCSELs). 

VCSELs power biometric features such as Face ID on iPhone and iPad products distributed globally. These components are developed and fabricated at Coherent’s Texas facility.

Coherent stock traded over 4% higher on Thursday, after the morning bell. The company’s Texas manufacturing hub houses next-generation wafer fabrication technology, including six-inch compound semiconductor platforms designed to meet the growing demands of consumer electronics.

This partnership aligns with Apple’s broader goal of increasing domestic manufacturing. On Wednesday, the tech giant said Coherent will be one of the initial partners for its American Manufacturing Program (AMP).

“With our new American Manufacturing Program, we’re proud to partner with companies like Coherent to create new jobs and bring even more manufacturing to America,” said Apple COO Sabih Khan. “This is part of our $600 billion commitment to the U.S. over the next four years, and we couldn’t be more excited about the future of American innovation.”

Over the next four years, Apple expects its total U.S. investment to hit $600 billion, which will also include ramped-up supplier partnerships.

On Stocktwits, retail sentiment toward Coherent shifted to ‘neutral’ from ‘bearish’ territory the previous day amid ‘normal’ message volume levels.

The company is expected to report its fourth-quarter (Q4) earnings on August 13. It expects revenue between $1.425 billion and $1.575 billion, against the consensus estimate of $1.51 billion, as per Fiscal AI data.

Coherent stock has gained 18% year-to-date and over 95% in the last 12 months.

Also See: Broadcom Sees Heightened Retail Interest Today, And This Has An Apple Connection: Here Are The Details

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