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Diversify Advisory Services LLC lifted its holdings in Corning Incorporated (NYSE:GLW – Free Report) by 39.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,958 shares of the electronics maker’s stock after purchasing an additional 10,506 shares during the quarter. Diversify Advisory Services LLC’s holdings in Corning were worth $5,683,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Atwood & Palmer Inc. bought a new position in Corning in the second quarter valued at approximately $26,000. Rogco LP bought a new stake in shares of Corning during the second quarter worth $27,000. Western Pacific Wealth Management LP bought a new stake in shares of Corning during the third quarter worth $25,000. Toth Financial Advisory Corp increased its position in shares of Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 98 shares in the last quarter. Finally, Cornerstone Financial Management LLC raised its holdings in shares of Corning by 63.3% during the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 76 shares during the period. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets
In other Corning news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Corning Trading Up 2.2%
NYSE:GLW opened at $135.15 on Thursday. The company has a market cap of $116.42 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The business has a 50 day moving average price of $152.49 and a two-hundred day moving average price of $168.76. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.29 EPS for the current fiscal year.

Corning Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 51.14%.

Wall Street Analysts Forecast Growth
GLW has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Morgan Stanley reduced their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Mizuho lowered their target price on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. Finally, Oppenheimer lowered their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $177.25.

Check Out Our Latest Analysis on Corning

About Corning
(Free Report)

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW – Free Report).

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Wall Street expects a year-over-year increase in earnings on higher revenues when Corning (GLW - Free Report) reports results for the quarter ended September 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 27. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis specialty glass maker is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of +31.3%.

Revenues are expected to be $5 billion, up 17% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Corning?For Corning, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.68%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination indicates that Corning will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Corning would post earnings of $0.76 per share when it actually produced earnings of $0.78, delivering a surprise of +2.63%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Corning appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Graphics processing units (GPUs) are the data center chips that do most of the heavy lifting in artificial intelligence (AI) workloads. Nvidia (NVDA -2.70%) supplies the world's best GPUs, and sales have been so strong that the company's market capitalization has grown from $360 billion to a whopping $5.8 trillion since the start of 2023.

However, it will be hard for Nvidia to replicate those returns going forward because of its enormous size, which is why its stock has only mustered a 28% gain so far in 2026 (at the market close on Monday, Oct. 5). Corning (GLW -5.84%) stock, on the other hand, has rocketed higher by 82% this year.

Corning is a 175-year-old glass manufacturer with a wealth of experience serving the electronics industry. It supplied the glass for Thomas Edison's original lightbulb in 1879, and today, it makes the glass for all of Apple's iPhones. But the company is now at the center of the AI boom thanks to its fiber-optic data center cables, and here's why its stock probably isn't done going higher over the long term.

Image source: Getty Images.

The shift to optical fiber presents a big opportunity The typical Nvidia NVLink 72 data center rack includes 72 GPUs, 36 central processing units (CPUs), and various networking components, which are connected using two miles of copper cables. However, there is an ongoing shift toward fiber-optic cables instead, because they can transmit data much faster and with better energy efficiency -- a great combination for AI developers who want to maximize processing speeds while keeping costs down.

Corning developed an entire portfolio of optical connectivity products for the AI industry under a new brand called GlassWorks AI Solutions. One of them is Multicore Fiber (MCF), which packs four cores into a single strand of 125-micron fiber. Since MCF is effectively four-times as dense as a traditional fiber-optic cable, data center operators can achieve the same performance with 75% fewer cables, which will be particularly useful as GPU clusters grow larger over time.

According to Corning, clusters of 130,000 (or more) GPUs typically require an extra optical layer which adds around 50% more fiber content. MCF could be the ideal solution in those settings.

Corning is already working with an impressive list of AI companies, including Nvidia, Meta Platforms, and Amazon. Meta plans to buy $6 billion worth of optical connectivity solutions from Corning over the next few years, and the Amazon deal could be worth a similar amount.

Corning's AI revenue is growing rapidly Corning generated $9.1 billion in core revenue during the first half of 2026 (ended June 30), an 18% increase from the year-ago period. The optical communications segment contributed $3.9 billion in revenue, and it grew at a much faster pace of 34%. During the second quarter (April to June), AI-related sales in the optical communications segment almost doubled.

The optical communications business also delivered $825 million in net income during the first half of the year, up 84% compared to the first half of 2025. The incredible demand for optical fiber solutions is a massive tailwind for Corning's profit margins, because it's giving the company the ability to dictate prices.

Corning believes AI-related demand will drive its annualized revenue to $20 billion by the end of 2026, and then to $30 billion by the end of 2028, and to $40 billion by the end of 2030. Simply put, this growth story appears to be in the very early stages.

Corning stock is pricey, but watch for a pullback Corning delivered adjusted (non-GAAP) earnings of $2.87 per share over the last four quarters (to June 30), placing its stock at a price-to-earnings (P/E) ratio of 55.5. For some perspective, Nvidia stock is trading at a P/E of just 30.2, so Corning definitely isn't cheap.

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However, if we assume Corning will double its annual revenue between now and 2030 as management expects, its earnings could grow at a similar rate, which would make its stock quite attractive on a forward basis. But that means investors who buy the stock today must be prepared to hold it for at least the next four years to maximize their chances of yielding a positive return.

Alternatively, if Corning stock were to suffer a decline of around 30% from its current price of $159 (at the market close on Monday, Oct. 5) amid a correction in the broader market, that could be a better buying opportunity for investors. Therefore, it might be a good idea to watchlist this stock for the time being.

Key Takeaways GLW secured a multi-year, $3 billion-plus AT&T deal to supply fiber and cable for U.S. broadband expansion.Corning is expanding U.S. fiber and cable production, including a North Carolina facility that created jobs.GLW also partners with Verizon as telecom investment in higher-capacity networks supports fiber demand. Corning Incorporated (GLW - Free Report) has secured a multi-year agreement worth more than $3 billion with AT&T Inc. (T - Free Report) to expand high-speed broadband infrastructure in the United States. The deal strengthens Corning’s position in optical communications as rising data consumption and artificial intelligence (AI) adoption drive greater demand for advanced connectivity.

Under the agreement, Corning will provide the fiber and cable required for AT&T’s network expansion, supporting connectivity for residential customers, businesses and communities. Its fiber and connectivity solutions are expected to accelerate network deployment, improve installation efficiency and support the domestic connectivity supply chain.

Corning is also expanding its fiber and cable production in the United States, including a North Carolina facility that has created hundreds of jobs. These investments will increase the company’s manufacturing capacity and strengthen its ability to supply fiber solutions for next-generation network infrastructure.

Corning has also partnered with Verizon Communications Inc. (VZ - Free Report) to provide fiber and connectivity solutions for broadband expansion and AI-related infrastructure. As telecom companies continue to invest in higher-capacity networks, Corning is likely to benefit from sustained demand for optical fiber and related solutions, supporting its growth opportunities in the communications market.

How Are Competitors Focusing on Fiber?Corning faces competition from Amphenol Corporation (APH - Free Report) and Lumen Technologies, Inc. (LUMN - Free Report) . Amphenol is strengthening its fiber-optic capabilities to meet growing demand from data centers and AI applications. The company is seeing strong demand for fiber-based connectivity as customers upgrade networks to support higher data speeds and capacity. Amphenol’s expanding portfolio of fiber-optic and interconnect products helps meet the growing need for reliable, high-speed data transmission.

Lumen is adding new fiber routes and network capacity as AI workloads drive greater data traffic across the United States. Its NorthLine project will connect Seattle and Minneapolis through a low-latency route designed to support high-capacity data movement between data centers and cloud networks. Lumen is expanding its network infrastructure to meet the growing connectivity needs of businesses, data centers and AI applications.

Corning's Price Performance, Valuation & EstimatesShares of Corning have rallied 85.0% over the past year compared with the industry’s growth of 130.4%.

Image Source: Zacks Investment Research

From a valuation standpoint, the company’s shares currently trade at 38.14 forward 12-month earnings, higher than the industry tally of 35.07.

Image Source: Zacks Investment Research

Corning’s earnings estimates for 2026 have increased 0.9% to $3.28 per share, while the same for 2027 have risen 0.7% to $4.28 over the past 60 days.

Image Source: Zacks Investment Research

Corning currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Corning Incorporated (NYSE:GLW – Get Free Report)’s share price rose 1.6% during mid-day trading on Friday . The stock traded as high as $153.77 and last traded at $150.0960. Approximately 14,361,493 shares changed hands during trading, an increase of 15% from the average session volume of 12,450,095 shares. The stock had previously closed at $147.80.

Corning News Roundup Here are the key news stories impacting Corning this week:

Positive Sentiment: Corning and Verizon signed a multiyear, multibillion-dollar supply agreement running through 2032. The deal covers high-density optical fiber and connectivity products for broadband expansion and next-generation AI infrastructure, strengthening visibility into future demand. Corning Verizon fiber agreement Positive Sentiment: Corning and industry partners completed the SDM4 Multicore Fiber specification, creating a common technical framework for high-density, multi-vendor optical links in AI data centers. The development supports Corning’s long-term positioning in a rapidly expanding market. Corning SDM4 multicore fiber specification Positive Sentiment: Investors are also responding to Corning’s expanding partnerships with Meta, Amazon, NVIDIA and Verizon, which could broaden opportunities as AI-related networking and data-center spending grows. Corning expanding partner base Positive Sentiment: Optical-equipment stocks broadly moved higher, indicating sector-wide enthusiasm for AI infrastructure and optical-network demand rather than a Corning-specific catalyst alone. Optics stocks extend gains Neutral Sentiment: Jim Cramer advised investors to wait for Corning to fall further rather than trim profitable positions immediately. His comments may influence short-term sentiment but do not change the company’s fundamentals. Jim Cramer comments on Corning Negative Sentiment: Recent filings tracked in the coverage show seven insider sales and no purchases over six months, including sales by senior executives. This may raise caution about valuation or near-term upside, although insider selling can reflect planned diversification. Negative Sentiment: Pomerantz announced an investigation referencing Corning, but the notice appears to contain a ticker inconsistency—identifying the company as “COO” rather than GLW—so its relevance to Corning investors is unclear. Pomerantz investor alert Analyst Ratings Changes A number of equities analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Bank of America upped their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Barclays lowered their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $176.50.

Check Out Our Latest Analysis on Corning Corning Stock Performance The company has a market cap of $129.29 billion, a PE ratio of 68.54, a PEG ratio of 1.92 and a beta of 1.16. The business’s 50-day moving average is $154.25 and its 200 day moving average is $166.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 51.14%.

Insiders Place Their Bets In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Altus USA Inc. boosted its holdings in shares of Corning by 32.6% during the second quarter. Wellington Altus USA Inc. now owns 427 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 105 shares during the period. Reynders McVeigh Capital Management LLC purchased a new position in Corning during the 2nd quarter valued at about $295,000. SkyView Investment Advisors LLC bought a new position in Corning during the 2nd quarter valued at approximately $255,000. ABS Direct Equity Fund LLC bought a new position in Corning during the 2nd quarter valued at approximately $65,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in Corning by 0.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 61,122 shares of the electronics maker’s stock worth $15,612,000 after buying an additional 449 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Corning Company Profile (Get Free Report)

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.

See Also Five stocks we like better than Corning Lennar’s Earnings Miss May Be Sending a Bigger Warning About U.S. Housing Priced for a Pullback or More Gains? These 3 Stocks Are Testing the Limits These 3 Agentic AI Stocks Have More Than Hype Behind Their Growth Stories Not Just Banks: 3 Trading Stocks to Watch After the Fed Rate Hike Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.

Key Takeaways Corning expands partnerships with Meta, Amazon, NVIDIA and Verizon to support AI infrastructure.NVIDIA deal will significantly boost GLW's U.S. optical-connectivity capacity and fiber production.Corning's partner ecosystem expands its portfolio, but growth depends on AI investment and deployments. Corning Incorporated (GLW - Free Report) is strengthening its growth prospects by expanding relationships with leading technology, cloud, networking and telecom companies. In the first half of 2026, Corning entered into a multiyear agreement worth up to $6 billion with Meta. Per the agreement, the company is set to provide optical fiber, cable and connectivity products for Meta’s U.S. data-center expansion initiatives. Corning’s further strengthened its foothold in the AI infrastructure space after it inked a multibillion-dollar, multiyear agreement with Amazon to support its AI data center expansion.

The company has also inked a multiyear commercial and technology partnership with NVIDIA. Under the arrangement, Corning plans to increase its U.S. optical-connectivity manufacturing capacity tenfold and expand U.S. fiber production by more than 50%. As AI clusters become larger and require greater bandwidth and lower-latency connectivity, the amount of optical infrastructure needed within and between data centers is also increasing. Corning has identified Gen AI OEM customers as an important opportunity for its newly created Photonics Market-Access Platform.

Verizon and Corning announced a multibillion-dollar, multiyear agreement covering more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032. The products will support both broadband expansion and the development of the long-haul network required to connect AI infrastructure.

It is to be noted that Corning’s partner expansion is not limited to large customer contracts. The company is collaborating with US Conec, under which Corning became a licensee of the PRIZM TMT optical ferrule technology. The technology is designed to accommodate higher fiber counts within tighter spaces, addressing the increasing density requirements of AI data centers. The expanding partner ecosystem is driving innovation and expanding Corning’s product portfolio, creating a sustained avenue of revenue generation for upcoming quarters. However, despite the favorable demand environment, Corning’s growth outlook remains dependent on the pace of AI infrastructure investment and the timing of large customer deployments.

How Are Competitors Faring?Corning faces competition from Amphenol Corporation (APH - Free Report) and Ciena Corporation (CIEN - Free Report) in several domains. Amphenol continues to widen its addressable market through acquisitions that add high-technology interconnect capabilities. CommScope expands the company’s fiber optic and cable connectivity portfolio, while Andrew, Trexon and other prior deals broaden communications, defense and industrial offerings. In second-quarter 2026, Amphenol also acquired El.Com, adding complex interconnect and high-voltage cable assemblies, and Wilder Technologies, adding test and measurement solutions for high-speed applications.

Ciena is witnessing encouraging demand trends as AI applications drive higher network traffic and bandwidth consumption across cloud and service provider environments. Customers are prioritizing investments in network infrastructure to support AI model training, data ingestion and inference workloads. Recently, Quantum Corridor, Ciena and Toshiba successfully tested high-speed quantum-safe networking on a live commercial network in the U.S. Midwest. The trial showed how Ciena’s WaveLogic 6 Extreme can protect data in transit at 1.6 Tb/s using post-quantum cryptography alongside Toshiba’s quantum key distribution technology. Ciena is also collaborating with e& UAE to develop a high-capacity DWDM network, designed to scale with rising traffic and support the growing demands of advanced digital services.

Corning's Price Performance, Valuation & EstimatesShares of Corning have gained 87.5% over the past year compared with the industry’s growth of 127.3%.

Image Source: Zacks Investment Research

From a valuation standpoint, the company’s shares currently trade at 36.11 forward 12-month earnings, higher than the industry tally of 32.75.

Image Source: Zacks Investment Research

Earnings estimates for Corning for 2026 have increased 3.1% to $3.28, while the same for 2027 have risen 1.42% to $4.28 over the past 60 days.

Image Source: Zacks Investment Research

Corning currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Celestica and Corning are positioned to benefit as investment in AI infrastructure expands.Celestica is seeing demand across networking, compute and custom AI infrastructure programs.Corning is expanding its optical connectivity role through new technologies and hyperscaler agreements. Celestica Inc. (CLS - Free Report) and Corning Incorporated (GLW - Free Report) are well positioned to benefit from the rapid buildout of AI infrastructure. Their exposure comes from different parts of the data-center ecosystem. Celestica supports hyperscale and enterprise customers with networking, compute, storage and other hardware solutions. Meanwhile, Corning is a prominent supplier of optical fiber, cable and connectivity technologies facilitating high-speed data transmission across AI data centers.

Per a report from Grand View Research, the global AI infrastructure market was valued at $35.42 billion in 2023. It is projected to reach $223.45 billion in 2030 with a compound annual growth rate of 30.4%. With both stocks benefiting from expanding AI infrastructure investment, the key question for investors is which company offers a better upside potential.

The Case for CelesticaThe rapid AI data-center infrastructure buildout is driving growth in Celestica’s Communications business. The company continues to see strong traction for its 800G Ethernet switches across hyperscale customers. It is beginning to scale 1.6T switch programs. The combination of stable 800G switch demand and broader adoption of 1.6T technology is expected to provide strong revenue growth in upcoming quarters and throughout 2027.

Healthy traction in the Enterprise business is also driving demand. Celestica is seeing strong demand for its AI compute solutions from hyperscaler customers. Multiple compute programs are expected to ramp through 2027, backed by increasing investments in AI/ML computing infrastructure.

Celestica is also moving beyond the servers and networking domain. The company is set to manufacture custom rack systems for OpenAI. The company is working with OpenAI and Broadcom on multigenerational custom accelerator platforms. Celestica is also positioned to benefit from Advanced Micro Devices (AMD - Free Report) ’s growing AI infrastructure initiatives. Its involvement in AMD’s Helios scale-up platform represents a multibillion-dollar opportunity. These factors are diversifying Celestica’s AI-related growth beyond Ethernet networking and existing compute programs.

Celestica’s Advanced Technology Solutions segment provides another source of growth. The capital equipment business is benefiting from improving demand in the wafer-fabrication equipment market. Management expects these favorable trends to continue into 2027.

In the second quarter of 2026, Celestica generated $410.9 million in cash from operations compared with $152.4 million in the year-ago quarter. Free cash flow was $147.1 million, up 22.7% year over year. This accentuates efficient capital management and implies that the company is well-positioned to invest in growth initiatives, as well as pay debt and dividends. Celestica’s strong liquidity better positions it to navigate economic downturns and capitalize on emerging growth opportunities in the electronics manufacturing service industry.

The Case for CorningCorning is benefiting from accelerating demand for optical connectivity as hyperscalers expand AI infrastructure. Its Enterprise Networks business is seeing strong demand for Gen AI products. Its growth opportunity extends beyond traditional data-center fiber as optical technology increasingly moves into scale-up networks and inside computing systems. The company is developing co-packaged and near-package optical solutions that could increase its content within next-generation AI infrastructure.

Over the past few quarters, the company has strengthened relationships with leading technology companies. Multiyear agreements with Meta, NVIDIA and Amazon are expanding the company’s role in supplying optical fiber, cable and connectivity solutions for AI infrastructure. Corning’s diverse portfolio offering beyond the AI infrastructure space strengthens its business model. Its strong presence in the automotive and consumer electronics market is a positive factor. It is also witnessing strong momentum in the solar business.

Corning faces intensifying competition as AI infrastructure drives investment across optical connectivity and networking. Rivals such as Amphenol and Ciena are expanding their capabilities in high-speed interconnects, optical systems and data-center networking. Amphenol’s high-speed copper, fiber optic and power interconnect portfolio gives it exposure across multiple AI data-center architectures. The acquisition of CommScope has also strengthened Amphenol’s portfolio.

Corning’s Glass Innovations business remains exposed to the cyclical consumer-electronics market. Higher memory costs are expected to weigh on handheld-device volumes. Corning is aggressively expanding its solar manufacturing footprint, but execution risks remain as the business scales. The Solar segment generated a $7 million net loss in second-quarter 2026, compared with a $7 million profit in the first quarter, as an extended shutdown, production upgrades and a permanent power transition added about $30 million in costs.

How Do Zacks Estimates Compare for CLS & GLW?The Zacks Consensus Estimate for Celestica’s 2026 sales implies year-over-year growth of 64.27%, while that of EPS is projected to grow 87.11% year over year. The EPS estimates for 2026 and 2027 have increased over the past 60 days.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Corning’s 2026 sales and EPS implies year-over-year growth of 15.78% and 29.76%, respectively. The EPS estimates have increased for 2026 and 2027 over the past 60 days.

Image Source: Zacks Investment Research

Price Performance & Valuation of CLS & GLWOver the past year, Celestica has gained 31.8% compared with Corning’s growth of 124.8%.

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Celestica looks more attractive than Corning from a valuation standpoint. Going by the price/earnings ratio, Corning’s shares currently trade at 42.46 forward earnings, higher than 20.04 for Celestica.

Image Source: Zacks Investment Research

CLS or GLW: Which is a Better Pick?Celestica sports a Zacks Rank #1 (Strong Buy), while Corning has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Both Celestica and Corning are taking several initiatives to capitalize on the expanding AI infrastructure market. AI Data-Center Expansion, growing hyperscaler partnerships are tailwinds for Corning. However, growing competition in the optical connectivity domain, weakness in the consumer electronics market and execution risks in the solar business are concerning.

Robust 800G Ethernet switch demand, the upcoming ramp of 1.6T programs and accelerating hyperscaler AI/ML compute deployments are expected to support strong growth for Celestica through 2027. Its collaboration with industry leaders such as OpenAI, Broadcom and AMD is propelling innovation. Owing to these factors, with a better valuation and a Zacks Rank #1, Celestica is a better investment option at present.

Baird Financial Group Inc. grew its stake in shares of Corning Incorporated (NYSE:GLW – Free Report) by 96.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,829 shares of the electronics maker’s stock after acquiring an additional 133,571 shares during the period. Baird Financial Group Inc.’s holdings in Corning were worth $69,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new stake in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the 4th quarter valued at $26,000. Atwood & Palmer Inc. acquired a new position in Corning in the 2nd quarter valued at $26,000. Rogco LP bought a new position in Corning during the 2nd quarter worth $27,000. Finally, Kemnay Advisory Services Inc. bought a new position in Corning during the 4th quarter worth $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning In other news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes A number of brokerages have recently issued reports on GLW. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Mizuho dropped their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Oppenheimer cut their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.64. Read Our Latest Stock Report on GLW

Corning Stock Performance NYSE:GLW opened at $168.66 on Thursday. The company has a market cap of $145.28 billion, a price-to-earnings ratio of 77.01, a PEG ratio of 2.12 and a beta of 1.16. Corning Incorporated has a fifty-two week low of $72.72 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a fifty day moving average price of $159.88 and a 200-day moving average price of $166.07.

Corning (NYSE:GLW – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

More Corning News Here are the key news stories impacting Corning this week:

Positive Sentiment: Corning and Verizon signed a multi-year, multi-billion-dollar agreement covering more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032. The deal provides longer-term revenue visibility and supports Verizon’s broadband expansion and AI-related network investments. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth Positive Sentiment: The Verizon contract adds to Corning’s previously announced relationships with Meta, Amazon and NVIDIA, reinforcing the view that optical communications is becoming a key growth engine as data-center and AI network demand expands. Verizon and Corning Just Signed an 80 Million Mile Fiber Deal to Wire the AI Boom Positive Sentiment: Analyst sentiment also improved, with China Renaissance upgrading GLW from “hold” to “buy” and assigning a $238 price target. Optical-infrastructure stocks broadly rallied alongside Corning. Optical Stocks Surge as Corning Inks Multibillion-Dollar Supply Deal With Verizon Neutral Sentiment: The agreement extends Corning’s long-standing relationship with Verizon, but deliveries do not begin until 2027. The near-term financial impact will therefore depend on existing backlogs and current demand. Corning’s latest reported quarter showed 17.1% year-over-year revenue growth and earnings above consensus. Negative Sentiment: After the sharp rally, valuation and execution risks are more significant. Corning trades at an elevated earnings multiple, leaving less room for disappointment from manufacturing delays, weaker communications demand or a broader pullback in AI-related stocks. Recent insider activity also showed sales rather than purchases by several executives. Corning Profile (Free Report)

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.

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Key Takeaways Corning's Optical Communications sales rose 32% as AI infrastructure demand boosted growth.Corning's Amazon and NVIDIA deals expand optical connectivity capacity and data-center exposure.Smartphone weakness, China risks and customer concentration could temper Corning's growth prospects. Earnings estimates for Corning Incorporated (GLW - Free Report) for fiscal 2026 and fiscal 2027 have moved up 2.51% to $3.27 and 1.66% to $4.28, respectively, over the past 60 days. The positive estimate revision depicts bullish sentiment about the stock’s growth potential.

Image Source: Zacks Investment Research

Strong AI-Related Demand, Diverse Portfolio are PositivesOptical Communications has emerged as Corning’s major growth engine. In the second quarter, the segment’s sales increased 32% year over year to $2.07 billion, while segment net income jumped 77% to $438 million. The uptick is backed by rapid AI infrastructure buildout.

Corning is expanding collaboration with some of the world’s largest tech companies. It has inked a multiyear, multibillion-dollar agreement with Amazon. Per the deal, Corning will provide optical fiber, cable and connectivity products for Amazon’s expanding U.S. data-center infrastructure. The company also announced a long-term partnership with NVIDIA to expand U.S.-based optical connectivity manufacturing capacity by 10 times and increase domestic fiber production capacity by more than 50%.

Corning’s Glass Innovations business is benefiting from its premium positioning and product innovation. The company expects Gorilla Glass sales to outperform the broader handheld market despite pressure from higher memory prices. TV manufacturers and panel makers are increasingly shifting towards larger and higher-priced televisions. This is likely to create a favorable opportunity for Corning’s Display Business.

Corning continues to enhance its financial profile under the Springboard initiative. The company has raised the ambition of its Springboard strategy, targeting an annualized sales run rate of $20 billion by the end of 2026, $30 billion by the end of 2028 and $40 billion by the end of 2030. Management expects sales to witness a 19% CAGR from the fourth quarter of 2026 through the fourth quarter of 2030, with earnings growing faster than sales.

Key ChallengesDemand softness in the handheld device market remains one of the key near-term challenges for the company. Management expects higher memory prices to push smartphone industry unit volumes down by a mid-teens percentage in 2026. Despite the company’s expectation of outperforming the market, demand for Gorilla Glass will likely be impacted by lower handset volume.

Corning maintains a sizeable presence in China, which exposes the company to geopolitical tensions and tariff- related uncertainty. The Display and consumer electronics businesses remain dependent on Chinese panel makers and manufacturing ecosystems. Escalating trade restrictions, tariff increases or supply-chain disruptions between the United States and China could adversely affect operating margins, production efficiency and customer demand. Stiff competition can limit growth potential. Competition from companies such as Amphenol (APH - Free Report) and Ciena Corporation (CIEN - Free Report) may increase pressure on pricing.

Corning's growing AI infrastructure exposure enhances growth but increases reliance on a small number of large customers. In second-quarter 2026, contract liabilities totaled $2.7B and included a $1B customer deposit tied to a long-term AI infrastructure supply agreement, highlighting concentration risk even as it supports near-term visibility.

Price PerformanceCorning shares have gained 104% in the past year compared with the communications components industry’s growth of 157.1%. The stock has outperformed the S&P 500 indexduring this period.

Image Source: Zacks Investment Research

It has underperformed its competitor, Ciena, but outperformed Amphenol. Ciena has gained 179.1%, while Amphenol has declined 28.4%.

Key Valuation Metric of GLWFrom a valuation standpoint, GLW is currently trading at a premium compared with the industry. Going by the price/earnings ratio, the company’s shares currently trade at 36.51 forward 12-month earnings, higher than 35.16 for the industry.

Image Source: Zacks Investment Research

End NoteGrowing exposure to AI infrastructure and expanding optical content per AI system are major growth drivers for Corning. Focus on product diversification and exposure to various markets such as solar, automotive and display boost resiliency in the business model. Strong demand for Gorilla Glass is a positive. However, weakness in the smartphone market, high customer concentration risks and growing geopolitical volatility remain major concerns. With a Zacks Rank #3 (Hold), Corning seems to offer a balanced investment outlook, suggesting that investors may want to exercise caution when considering the stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ancora Advisors LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,294 shares of the electronics maker’s stock, valued at approximately $3,396,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC lifted its position in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Corning in the fourth quarter valued at approximately $921,435,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance Shares of NYSE:GLW opened at $152.76 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $131.59 billion, a PE ratio of 69.75, a P/E/G ratio of 1.88 and a beta of 1.14. Corning Incorporated has a twelve month low of $66.14 and a twelve month high of $271.78. The company has a 50-day moving average price of $172.96 and a two-hundred day moving average price of $164.50.

Corning (NYSE:GLW – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the company posted $0.60 EPS. Corning’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Corning Incorporated will post 3.27 EPS for the current year. Corning Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is presently 51.14%.

Insider Transactions at Corning In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades A number of equities research analysts have recently commented on GLW shares. Mizuho lowered their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley reduced their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Finally, Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Check Out Our Latest Report on Corning

Corning Company Profile (Free Report)

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

Featured Articles Five stocks we like better than Corning Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise Alcoa’s Gallium Project Opens a New Door Beyond Aluminum Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech Can Tesla’s Flying Roadster Distract From Its Real Risks? Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW – Free Report).

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BNP Paribas lowered its position in Corning Incorporated (NYSE:GLW – Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,565 shares of the electronics maker’s stock after selling 3,574 shares during the quarter. BNP Paribas’ holdings in Corning were worth $17,152,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Corning during the fourth quarter valued at approximately $921,435,000. Bank of New York Mellon Corp purchased a new stake in shares of Corning during the 2nd quarter valued at $1,510,911,000. Capital Research Global Investors boosted its position in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Legal & General Group Plc purchased a new position in Corning during the 2nd quarter worth $1,212,283,000. Finally, Wellington Management Group LLP grew its stake in Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after buying an additional 4,446,514 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 2.6% Shares of GLW opened at $148.87 on Friday. The company’s 50-day moving average price is $171.18 and its 200 day moving average price is $164.60. Corning Incorporated has a 12-month low of $66.14 and a 12-month high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a market cap of $128.24 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

Corning (NYSE:GLW – Get Free Report) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year. Corning Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Transactions at Corning In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth GLW has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Mizuho reduced their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and decreased their price target for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Barclays cut their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Oppenheimer cut their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Read Our Latest Report on Corning

Corning Profile (Free Report)

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

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AI infrastructure is putting unprecedented pressure on one of the physical inputs required to scale it: fiber. To address this constraint before it becomes a barrier to execution, Zayo, the leading digital network infrastructure provider, today announced an expanded strategic supply agreement with Corning Incorporated (NYSE: GLW), one of the world’s leading innovators in materials science and a major provider of fiber optic cable.

The agreement secures a significant portion of the fiber Zayo has projected to need through the remainder of the decade, providing supply assurance as the company executes one of the largest network expansions in its history.

Securing the Physical Inputs for AI-Ready Infrastructure

Zayo has spent years modelling where network demand is headed and deliberately planning how, when, and where it builds. As AI-driven demand accelerates, that planning increasingly extends beyond routes and capacity to the physical materials required to build them. Securing fiber optic cable supply now gives Zayo greater flexibility to scale as demand evolves.

“AI infrastructure is changing where and how quickly network capacity needs to be built,” said Steve Smith, CEO, Zayo. “We understand where demand is moving, and we’re putting the physical inputs in place now to build ahead of it. Deepening our relationship with Corning gives us greater confidence that material availability won’t stand between customer demand and the infrastructure required to deliver it.”

“AI is driving a fundamental increase in the amount and density of fiber optic cable and connectivity required across the network,” said Steve Mitchell, Senior Vice President, Corning Incorporated. “As networks evolve to meet those demands, providers need solutions that can accelerate deployment, increase capacity, and support long-term scalability. Our expanded relationship with Zayo brings together Corning's industry-leading optical innovations with Zayo's network expertise to help build the physical infrastructure required for AI at scale.”

Building the Physical Foundation for the AI Ecosystem

AI readiness is physical. Zayo plans to add 15,000 new route miles by 2030, including more than 8,000 miles of new long-haul fiber in collaboration with NVIDIA, while adding capacity across existing corridors where AI infrastructure is concentrating. Securing the optical cable earlier in the planning cycle helps Zayo turn those plans into operating infrastructure without allowing material availability to dictate where or when the network can be built.

“Anyone can draw a route on a map, but building it is a different story. Long-haul construction requires years of planning, permitting, materials, and disciplined execution,” said Troy Lupe, Chief Network Officer, Zayo. “Our experience building networks at this scale allows us to anticipate and manage execution risks before they become constraints. Corning understands what it takes to support an expansion of this magnitude and the speed required to deliver it. Securing fiber optic cable supply through our expanded agreement takes one critical variable off the table as we execute our network expansion.”

To learn more about Zayo’s network expansion and how its digital infrastructure is connecting the AI ecosystem, visit https://www.zayo.com/backbone-for-ai/.

About Zayo

The world’s digital future depends on networks that perform. Zayo builds and operates those networks. As the leading digital network infrastructure provider, the Zayo network spans 32 million fiber miles and 224,000 route miles across North America and connects more than 400 markets globally. With dense long-haul and metro fiber connectivity, tailored connectivity solutions, and managed services, Zayo’s network underpins the cloud, AI, and enterprise platforms powering the digital economy. Carriers, cloud providers, data centers, enterprises, schools, and governments rely on Zayo’s future-ready infrastructure and expertise to design, scale, and operate the networks that connect what’s next. Discover how Zayo connects what’s next at www.zayo.com and follow us on LinkedIn.

About Corning Incorporated

Corning (www.corning.com) is one of the world’s leading innovators in materials science, with a 175-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics, along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning’s capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping its customers capture new opportunities in dynamic industries. Today, Corning’s markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.

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On Jim Cramer’s Mad Money on August 14, 2026, Corning (NYSE:GLW | GLW Price Prediction) Chair and CEO Wendell Weeks was asked a question that many retirement-focused shareholders have been asking themselves this year: are tariffs hurting the business? His answer was blunt.

“No. Tariffs really have de minimis impact on us and that’s because of our philosophy,” Weeks said. “You got a sense of that today in the factory we locate close to our customers because the primary way that we win is with innovation.”

The Two Numbers Behind the Claim Weeks then offered the specific figures that anchor the argument: “So as a result, let’s take the U.S. for example. 90% of our U.S. revenue is created by U.S. origin products. Only 1% of what we sell in the United States we make in China. So tariffs, because of our fundamental philosophy and our values tend not to have a significant impact on us.”

Those two figures, attributed to Weeks on the broadcast rather than to a formal company disclosure, are the spine of the case. If 90% of what Corning sells into the United States is made in there, and only 1% of U.S. sales originate from Chinese factories, the surface area exposed to Section 301 duties and the ongoing U.S.-China trade friction is narrow by construction.

A Strategy That Wasn’t Designed as a Tariff Hedge The mechanism Weeks described predates the current tariff cycle. Corning has long placed plants near its largest customers and competed on product innovation rather than low-cost labor arbitrage. That posture shows up in the current customer roster: the Kentucky facility producing 100% of iPhone and Apple Watch cover glass, the Nvidia partnership to expand U.S. optical connectivity manufacturing, and the Amazon multi-billion-dollar agreement for U.S. data center fiber, cable, and connectivity. A footprint built for proximity to customers happens to also insulate the company from import duties.

The Gap Between the Stock and the Thesis Cramer’s question was premised on tariffs weighing on the stock even as the underlying business seemed unaffected. The price data reflects that tension. Corning opened at $169.74 as of August 17, 2026, up 9.6% over the prior month, but still up 93.4% year to date and 158.8% over the past year.

The Q2 numbers back Weeks’ operational confidence. Core EPS of $0.78 beat consensus of $0.75, Optical Communications revenue rose 32% year over year to $2.07 billion, and core operating margin expanded 190 basis points to 20.9%. Guidance called for Q3 core EPS of $0.85 to $0.89, roughly 28% growth.

For investors weighing tariff risk against fundamentals, the CEO drew the line clearly. Whether the market accepts 90% and 1% as the right frame is what to watch as Corning heads into Q3.

Contact [email protected] for any questions or corrections.

Posted by Defense World Staff on Aug 3rd, 2026

Chelsea Counsel Co. cut its holdings in Corning Incorporated (NYSE:GLW – Free Report) by 14.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,941 shares of the electronics maker’s stock after selling 10,630 shares during the period. Corning accounts for approximately 3.7% of Chelsea Counsel Co.’s portfolio, making the stock its 8th biggest holding. Chelsea Counsel Co.’s holdings in Corning were worth $8,422,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Signature Equity Partners LLC grew its holdings in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC lifted its holdings in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 64 shares during the last quarter. Balefire LLC lifted its holdings in shares of Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after buying an additional 65 shares during the last quarter. Millstone Evans Group LLC boosted its position in shares of Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock valued at $733,000 after acquiring an additional 67 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by company insiders.

Key Headlines Impacting Corning Here are the key news stories impacting Corning this week:

Positive Sentiment: AI-driven optical growth is supporting the rebound. Second-quarter core sales rose 17% year over year to $4.74 billion, while core EPS increased 30% to $0.78. Optical Communications sales jumped 32% to $2.07 billion, helped by enterprise-network demand tied to artificial-intelligence infrastructure. Multiyear partnerships with Amazon and NVIDIA, along with Corning’s $10 billion photonics ambition, are reinforcing the long-term growth narrative. Why Corning Incorporated Stock Is Up Today Positive Sentiment: Management’s near-term outlook remains healthy. Corning guided for third-quarter core sales of $4.9 billion to $5.0 billion and core EPS of $0.85 to $0.89. Stronger cash flow, rising earnings estimates and expectations for accelerating growth under the extended Springboard plan are supporting investor confidence. Corning Rides AI Data Center Growth as Optical Demand Accelerates Neutral Sentiment: Solar and photonics expansion remain execution-dependent. Investors are watching whether Corning can convert rapidly rising solar sales into sustainable profitability while also funding U.S. expansion and meeting its ambitious photonics targets. Corning Growth Outlook Hinges on AI Optics and Solar Profitability Negative Sentiment: Valuation and market skepticism remain risks. After its AI-led rally, GLW trades at a premium valuation, leaving less room for execution mistakes. Analysts at JPMorgan and Citigroup issued cautious views, while the earlier selloff reflected concerns that third-quarter guidance implied slower growth against difficult comparisons. Is GLW Stock Attractive After Its AI Rally and Earnings Momentum? Negative Sentiment: Insider selling is a sentiment headwind. Company insiders reportedly made 14 open-market sales and no purchases during the past six months, including sales by CEO Wendell Weeks and other senior executives. Corning Stock Up 0.2% Shares of GLW opened at $138.54 on Monday. The stock has a market cap of $119.34 billion, a price-to-earnings ratio of 63.26, a P/E/G ratio of 1.78 and a beta of 1.14. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $61.44 and a 12 month high of $271.78. The company has a 50-day moving average price of $182.92 and a two-hundred day moving average price of $157.24.

Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts predict that Corning Incorporated will post 3.25 EPS for the current fiscal year.

Corning Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Wall Street Analyst Weigh In A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Bank of America upped their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Citigroup reduced their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Get Our Latest Research Report on Corning

Corning Company Profile (Free Report)

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

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Key Takeaways GLW posted 17% revenue growth and 30% earnings growth, extending its multi-quarter momentum.GLW trades at 46.6X forward earnings after a 113.8% one-year rally, limiting room for missteps.Operating cash flow rose to $1.72B, while Solar lost $7M amid $30M of ramp-related costs. Corning Incorporated (GLW - Free Report) has become a clearer AI infrastructure story after another stronger-than-expected quarter. Growth in optical communications, improving cash flow and higher estimates support the bull case.

The harder question is valuation. GLW has already rallied sharply over the past year, leaving less room for missteps as the company ramps optical and solar capacity.

GLW’s Earnings Momentum Strengthens the Bull CaseCorning reported second-quarter 2026 core revenues of $4.74 billion, up 17% year over year, while core earnings rose 30% to 78 cents per share. Both figures topped the Zacks Consensus Estimate, with sales and earnings surprises of 2.9% and 2.6%, respectively.

The company has delivered at least eight consecutive quarters of year-over-year growth.

Management expects third-quarter core sales of $4.9 billion to $5 billion and core EPS of 85-89 cents, while the current fiscal-year earnings estimate has moved 1.7% higher over the past four weeks.

Corning’s Valuation Limits the Margin for ErrorThe stock’s premium is visible across several valuation measures. GLW trades at about 46.6X forward earnings, 6.9X trailing sales and 9.4X trailing book value, levels that already assume continued execution.

That matters after a major share-price move. GLW advanced 113.8% over the past year, although the stock fell 25.9% in the past three months. The pullback improves the entry debate, but it does not make the valuation inexpensive.

GLW’s Cash Flow and Margins Improve the QualityCash generation gives the growth story more support. Corning produced $1.72 billion in operating cash flow in the second quarter, up from $708 million a year earlier, and adjusted free cash flow reached $1.42 billion.

Margins also improved. Core operating margin expanded 190 basis points to 20.9%, while return on invested capital increased 180 basis points to 14.9%. Those gains matter as Corning funds capacity investments tied to Optical Communications and other growth platforms.

Corning’s Risks Keep the Setup From Looking EasyAI demand creates opportunity, but it also raises customer concentration risk. Contract liabilities totaled $2.7 billion and included a $1 billion customer deposit tied to a long-term AI infrastructure supply agreement, improving visibility while increasing delivery and timing pressure.

Other risks remain. Consumer electronics and automotive demand can be cyclical, China-related tariffs and supply-chain uncertainty could pressure margins, and the Solar segment posted a $7 million quarterly loss as maintenance, equipment upgrades and a power transition added about $30 million in costs.

GLW’s Price Target Frames a Measured Upside CaseThe $160 price target compares with the referenced share price of $135.22. That points to potential upside, but not enough to ignore valuation risk.

For that upside case to hold, Corning needs to keep converting AI optical demand into profitable growth and show that Solar can improve beginning in the third quarter. Continued margin expansion is central to justifying the stock’s premium.

Corning’s Scores Point to Selective OptimismGLW currently carries a Zacks Rank #3 (Hold), which supports a balanced stance rather than an aggressively bullish one. NVIDIA Corporation (NVDA - Free Report) remains a relevant comparison because its AI infrastructure ecosystem is tied to demand for high-speed optical connectivity. Meta Platforms (META - Free Report) is also relevant because its AI data-center ambitions directly align with Corning’s hyperscale optical opportunity.

The Momentum Score of A and Growth Score of B reflect stronger operating trends, while the Value Score of D shows limited valuation support. The VGM Score of B leaves GLW better suited to growth-oriented investors willing to underwrite execution risk than to deep-value buyers seeking a discounted stock.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways GLW's Springboard plan targets $20B, $30B and $40B sales run rates by 2026, 2028 and 2030, respectively. Optical Communications sales rose 32% year over year, driven by AI and data center demand. Corning discussed Amazon and NVIDIA agreements supporting optical capacity expansion. Corning Incorporated (GLW - Free Report) used its second-quarter 2026 earnings call to highlight accelerating demand from artificial intelligence infrastructure and the progress on its upgraded Springboard growth plan.

Management emphasized expanding optical opportunities, customer partnerships and improving financial performance while outlining a longer-term path toward higher sales and profitability.

GLW Advances Springboard Growth StrategyCEO Wendell Weeks said Corning is entering a new phase of growth as the company executes its Springboard 20-30-40 plan. The strategy targets annualized sales run rates of $20 billion by the end of 2026, $30 billion by 2028 and $40 billion by 2030.

Weeks highlighted that the company expects sales growth to accelerate, with a projected 19% sales CAGR from the fourth quarter of 2026 through the fourth quarter of 2030. Management also expects earnings to grow faster than sales.

The company’s updated strategy is supported by investments in optical communications, photonics and other growth platforms. Management said the plan is designed to improve returns on invested capital and increase free cash flow over time.

Corning Benefits From AI Infrastructure DemandCorning reported strong momentum in Optical Communications, where sales increased 32% year over year to $2.07 billion. Enterprise Networks sales rose 65%, driven by demand for Gen AI-related products and data center infrastructure.

Weeks said AI networking requirements are creating opportunities beyond traditional GPU growth. He pointed to larger AI clusters, bandwidth requirements and the adoption of optical technologies in scale-up networks as drivers of future demand.

The CEO also discussed the potential expansion of Corning’s Photonics platform, which management believes could become a $10 billion market access platform by 2030 as optical technologies move further into advanced computing systems.

GLW Expands Customer PartnershipsCorning highlighted several major customer relationships supporting its growth outlook. Management discussed agreements with Amazon and NVIDIA tied to optical connectivity and expanded manufacturing capacity.

CFO Edward Schlesinger said long-term customer agreements are becoming an increasingly important part of the company’s capacity expansion strategy. These agreements help align investment decisions with customer demand.

During Q&A, a Wolfe Research analyst asked about the scale of long-term agreements within optical businesses. Weeks responded that major capacity expansions will increasingly be supported by these arrangements.

Corning Improves Profitability ProfileFor the second quarter, Corning delivered core sales of $4.74 billion, up 17% year over year, while core EPS increased 30% to 78 cents. Earnings per share beat the Zacks Consensus Estimate of 76 cents, while revenues beat the consensus mark of $4.60 billion. Core gross margin expanded to 39.6% and core operating margin reached 20.9%.

Schlesinger said Optical Communications achieved record profitability, with segment net income increasing 77% year over year to $438 million. He attributed margin improvement to stronger demand for innovative products.

The company also reported adjusted free cash flow of $1.42 billion during the quarter. Management said it expects free cash flow growth to continue while investing in expansion opportunities.

GLW Addresses Market Risks and OutlookManagement expects third-quarter core sales of $4.9 billion to $5 billion, representing approximately 16% year-over-year growth. Core EPS is expected to reach 85 cents to 89 cents, up about 28% year over year.

During Q&A, a Bank of America analyst questioned whether the third-quarter outlook implied slower growth after strong Enterprise performance. Schlesinger said the guidance was intended to reflect continued year-over-year growth and ongoing strength in Enterprise demand.

Management also noted pressure from memory pricing in handheld markets and muted automotive conditions, while expecting Gorilla Glass and other innovation-driven products to outperform broader market trends.

Corning Maintains Focus on Long-Term ExpansionCorning’s management emphasized that AI infrastructure remains a central growth opportunity, with Enterprise Networks and Photonics positioned as key contributors to future expansion.

The company continues to balance near-term execution with long-term investments, including higher capital spending to support optical capacity. Management expects to invest approximately $2 billion in capital expenditures during 2026.

The overall message from the call was centered on scaling new growth platforms, strengthening customer relationships and improving profitability as Corning advances its Springboard objectives.

Zacks Rank and Style Score SignalsCorning currently carries a Zacks Rank #2 (Buy), indicating that earnings estimate revisions are favorable compared with lower-ranked stocks. The Zacks Rank is designed to help identify stocks with stronger potential performance based on earnings estimate trends. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock has a Value Score of D, Growth Score of B, Momentum Score of F and a VGM Score of C. Zacks Style Scores use grades from A to F, with stronger scores reflecting more favorable characteristics within each investment style category.

The combination of a Zacks Rank #2 and individual Style Scores provides investors with additional context, though the Zacks Rank can change as analysts update earnings estimates following new company developments.
 

Corning Incorporated (GLW) Q2 2026 Earnings Call July 28, 2026 8:30 AM EDT

Company Participants

Christopher Keenan - Director of Investor Relations
Wendell Weeks - Chairman, President & CEO
Edward Schlesinger - Executive Vice President & Chief Financial Officer

Conference Call Participants

Asiya Merchant - Citigroup Inc., Research Division
Joshua Spector - UBS Investment Bank, Research Division
George Notter - Wolfe Research, LLC
Wamsi Mohan - BofA Securities, Research Division
Joseph Cardoso - JPMorgan Chase & Co, Research Division
Meta Marshall - Morgan Stanley, Research Division
Mehdi Hosseini - Susquehanna Financial Group, LLLP, Research Division

Presentation

Operator

Welcome to the Corning Incorporated Second Quarter 2026 Earnings Call.

[Operator Instructions]

Please be advised that today's conference is being recorded. It is my pleasure to introduce to you, Chris Keenan, Director of Investor Relations.

Christopher Keenan
Director of Investor Relations

Thank you, Carmen. Good morning, and welcome to Corning's Second Quarter 2026 Earnings Call. With me today are Wendell Weeks, Chairman, Chief Executive Officer and President; and Ed Schlesinger, Executive Vice President and Chief Financial Officer. I'd like to remind you that today's remarks contain forward-looking statements that fall within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties and other factors that could cause actual results to differ materially. These factors are detailed in the company's financial reports.

You should also note that we will be discussing our consolidated results using core performance measures, unless we specifically indicate our comments relate to GAAP data. Our core performance measures are non-GAAP measures used by management to analyze the business. For the second quarter, differences between GAAP and core EPS principally reflects adjustments for hedged exposures along with largely noncash discrete tax items and restructuring and impairment charges.

A reconciliation of core results to the comparable GAAP value can be found in

Corning (GLW - Free Report) came out with quarterly earnings of $0.78 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.6 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.63%. A quarter ago, it was expected that this specialty glass maker would post earnings of $0.7 per share when it actually produced earnings of $0.7, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Corning, which belongs to the Zacks Communication - Components industry, posted revenues of $4.74 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.94%. This compares to year-ago revenues of $4.05 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Corning shares have added about 63.7% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Corning?While Corning has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Corning was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.83 on $4.8 billion in revenues for the coming quarter and $3.18 on $18.62 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Communication - Components is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Ooma (OOMA - Free Report) , another stock in the same industry, has yet to report results for the quarter ended July 2026.

This internet phone service provider is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +39.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Ooma's revenues are expected to be $81.68 million, up 23.1% from the year-ago quarter.

Key Takeaways Corning reports Q2 2026 earnings on July 28, with Optical Communications expected to lead growth.GLW's AI infrastructure, fiber broadband and solar businesses are expected to support results.GLW has topped earnings estimates in the past four quarters but lacks a favorable earnings beat signal. Corning Incorporated (GLW - Free Report) is scheduled to report second-quarter 2026 earnings on July 28, 2026. The Zacks Consensus Estimate for sales and earnings is pegged at $4.6 billion and 76 cents per share, respectively. Earnings estimates for GLW have decreased 0.31% to $3.18 for 2026 and increased 0.96% to $4.22 for 2027 over the past 60 days.

GLW Estimate Trend
Image Source: Zacks Investment Research

Earnings Surprise HistoryThe advanced glass substrates producer has a solid trailing four-quarter earnings surprise history, having exceeded expectations on each occasion. It delivered a four-quarter earnings surprise of 2.41%, on average.

Image Source: Zacks Investment Research

Earnings WhispersOur proven model does not conclusively predict an earnings beat for Corning for the second quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. That is not the case here.

Corning currently has an ESP of -0.70% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Factor Shaping Upcoming ResultsCorning's Optical Communications business is expected to remain the primary growth engine in the second quarter. Growing investment in AI infrastructure will likely propel growth in this segment. Rising deployment of AI data centers is increasing demand for the company's optical fiber, cable and connectivity products.

Ongoing expansion of fiber broadband networks is another growth factor. Telecom carriers continue investing in fiber-to-the-home infrastructure to meet rising bandwidth requirements, creating strong demand for Corning's optical solutions.

The Solar business is expected to remain a major contributor. Demand for domestically manufactured solar products, including polysilicon, wafers and modules, remains healthy. Customers increasingly prefer U.S. made products and suppliers to increase reliability in their supply chain amid growing geopolitical volatility and trade uncertainty. Growing investment in advanced chip production and AI-related semiconductor capacity is supporting demand for the company's high-performance materials and optical technologies.

Per the Zacks Consensus Estimate, net sales from the optical communications segment are pegged at $1.94 billion, up from $1.56 billion a year ago. Net sales from the automotive and Life Sciences vertical are pegged at $453.36 million and $315.35 million, respectively.

Price PerformanceOver the past year, Corning has surged 191% compared with the industry’s growth of 251.2%. It has outperformed peers like Amphenol Corporation (APH - Free Report) but lagged Ciena Corporation (CIEN - Free Report) over this period. While Amphenol has gained 56.7%, Ciena has jumped 371.1%.

Image Source: Zacks Investment Research

Key Valuation MetricFrom a valuation standpoint, Corning appears premium relative to the industry but is trading above its mean. Going by the price/earnings ratio, the company shares currently trade at 43.17 forward earnings, higher than 39.47 for the industry and higher than the stock’s mean of 31.88.

Image Source: Zacks Investment Research

Investment ConsiderationCorning is positioning itself as a critical supplier to the AI ecosystem. An AI data center requires massive GPU clusters, high-speed optical interconnects, robust fiber networking infrastructure and advanced photonic solutions. Hyperscalers are rapidly expanding AI data centers, and this is directly boosting demand for Corning’s leading-edge optical fiber and connectivity products.

The company's Solar business has also emerged as an important growth engine. Its vertically integrated U.S. manufacturing platform, spanning polysilicon, wafers and solar modules, positions Corning to capitalize on growing demand for domestically produced solar components. Growing demand for specialty optical materials used in semiconductor manufacturing further diversifies its revenue base. Despite some weakness, demand for premium Corning’s Gorilla Glass products remains resilient. A diverse portfolio and strong focus on innovation enable it to maintain its competitive edge amid growing competition from other players, such as Amphenol and Ciena.

Corning's ongoing productivity initiatives are expected to remain a positive driver. Improved manufacturing efficiency, disciplined cost management and a more favorable product mix are expected to drive strong margin expansion.

End NoteCorning continues to strengthen its competitive position through innovation across optical connectivity, advanced glass and semiconductor applications. Expansion into high-growth markets, such as AI data center, solar, automotive and semiconductor, is a positive factor. Upward estimate revisions underscore growing confidence among investors regarding the stock's growth potential. Owing to these factors, Corning seems to be a good investment option at present.