Investing.com -- Cirrus Logic (NASDAQ: CRUS) shares jumped 6% Thursday after Apple (NASDAQ: AAPL) announced the chipmaker as a key partner in an expansion of its American Manufacturing Program, with plans to invest $400 million through 2030.

Apple named Cirrus Logic alongside foundry provider GlobalFoundries and three other suppliers in the expansion announced Thursday, March 26, 2026. The initiative builds on Apple's $600 billion, four-year commitment to invest in U.S. manufacturing announced last year.

Cirrus Logic will utilize GlobalFoundries' Malta, NY fab to establish new semiconductor processes for developing mixed-signal solutions for several Apple products, including integrated circuits for next-generation Face ID technology. The Face ID component represents a new socket for Cirrus with its largest customer, though no timeline was provided for when the new IC could potentially ramp.

Stifel analyst Tore Svanberg commented, "While it is still early, we estimate that the next-gen Face ID IC could command an ASP in the ~$2.00 range and will likely be present initially on Pro iPhone models. If we conservatively estimate ~90mn in Pro iPhone sales in Cirrus' FY2027E, this socket could be a $180mn incremental revenue opportunity for Cirrus if it ramps during that time. Our current FY2027E revenue estimate is $2.14bn and it does not include this opportunity, which could add ~8.4% to our estimate if realized as we present here. We note we are not updating our estimates based on this announcement today."

The analyst estimates the new Face ID IC opportunity could represent approximately $2.00 in average selling price per iPhone, potentially generating $180 million in incremental revenue if it ramps in fiscal 2027. This would represent an 8.4% addition to Stifel's current fiscal 2027 revenue estimate of $2.14 billion for Cirrus Logic.