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Corning Incorporated (GLW +1.30%) stock scored its fourth straight day of gains Wednesday, rising 2.4% through 11 a.m. ET -- and adding to a surge in price that's put the stock up 18% over the past week.

You can thank Verizon (VZ -2.65%) for that.

Image source: Getty Images.

Verizon + Corning: better together Most of Corning's stock gains came on Tuesday, when Verizon announced it had struck a multi-year, multi-billion-dollar supply agreement to order more than 80 million miles' worth of fiber-optic cable from Corning for its network.

Precisely how many multi-billions of dollars we're talking about here isn't exactly clear. Still, the duration of the supply agreement -- 2027 through 2032 -- means that whatever the number is, you'll want to divide it by five or six to figure out the annual boost to Corning's revenue.

According to data from Discount-Low-Voltage.com, Corning fiber-optic cable is typically priced at about $1 per foot (although some other sources suggest a higher price). Taking $1 per foot as a benchmark, a supply contract for 80 million miles of fiber optics implies a total value of more than $420 billion.

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What it means for Corning stock Even divided by five or six years, that sounds like a lot of money for Corning -- potentially several times more than the company's current annual revenue stream of $20 billion.

While I'd much prefer to see a firm figure for the price Verizon is getting for so much cable before coming to a conclusion, the potential for this contract to become transformative for Corning seems clear.

Even at an apparently pricey valuation of 76.5 times trailing earnings, Corning stock might now be a buy.

Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Corning. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy.

The companies said the deal will help meet surging demand for consumer broadband and converged services, accelerating Verizon's push to bring internet access to more homes and businesses across the nation.

Corning locked in monster deals with Amazon, Nvidia, and Verizon while its AI fiber business exploded, yet the stock still suffered one of the worst monthly crashes in its modern history. Something does not add up, and the explanation reshapes…

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Corning (NYSE:GLW | GLW Price Prediction) shares fell 45.88% between June 30 and July 31, 2026, sliding from $254.95 to $137.99 on an adjusted basis. That is one of the worst monthly stretches in the company’s modern history, and it happened in the exact window when Corning was disclosing multibillion-dollar fiber commitments from the largest names in AI infrastructure. The company has executed no splits, spinoffs, or special dividends to distort the figure. Its only recorded split, a 3-for-1 forward split, occurred on October 4, 2000. The July drawdown is real.

What It Means The selloff collided with an order book that was accelerating, not slowing. On the July 28 earnings call, Corning reported that Optical Communications sales rose 32% year over year to $2.07 billion, with Enterprise sales up 65% to $1.27 billion and Gen AI product sales nearly doubling. Optical segment net income climbed 77% to $438 million. Core EPS came in at $0.78 versus the $0.75 consensus, the fifth consecutive EPS beat. Free cash flow reached $1.423 billion, up 255.75% year over year. Revenue of $4.505 billion missed expectations by 2.69%, and that single miss appears to have anchored the July repricing even as management upgraded its long-term plan.

Market Reaction Shares opened the recovery arc slowly. Corning traded at $142.20 on the day of the Q2 filing (July 28, 2026), down from $169.11 on the Q1 filing day (April 28, 2026). The stock closed at $137.99 on July 31, 2026. Since then the tape has turned. Corning is up 13.01% over the past week and 7.44% over the past month, closing at $168.04 as of the September 8 quote. Year to date, shares are up 92.93%. Over one year, up 143.13%. The July drop, in other words, compressed a runaway rally while the underlying business kept expanding.

Bull Case The customer roster is the story. In Q2, Corning cited a multiyear, multibillion-dollar Amazon agreement for optical fiber, cable, and connectivity for U.S. data centers, plus a long-term NVIDIA partnership to expand U.S. optical connectivity manufacturing capacity by 10x and U.S. fiber production capacity by more than 50%. On September 8, Verizon (NYSE:VZ) joined the list: the two companies announced a multiyear, multibillion-dollar agreement for 80 million plus miles of high density optical fiber solutions, designed to expand broadband and build the network connecting AI data centers for major hyperscalers. That is three giant, multiyear commitments layered on top of an existing up-to-$6 billion Meta agreement and Apple’s $2.5 billion commitment for 100% of iPhone and Apple Watch cover glass at the Kentucky facility.

Management has priced this into a hard target. CEO Wendell Weeks said Corning expects to reach an annualized sales run rate of $20 billion by end of 2026, $30 billion by end of 2028, and $40 billion by end of 2030, with a 19% sales CAGR from Q4 2026 to Q4 2030 and operating margins at or above 20%. Q2 core operating margin was already 20.9%, up 190 basis points, and core ROIC hit 14.9%, up 180 basis points. Weeks told investors “We’re entering a new phase of accelerating growth”. The July drawdown compressed the multiple on a business whose contracted demand keeps expanding. Corning is one of several picks-and-shovels suppliers to the AI buildout that never make the chipmaker headlines (we profiled seven of them, from fiber to power to cooling, in a free report here: 7 Stocks Powering the AI Boom (That Aren’t Chipmakers)). For retirement-focused holders, the setup is straightforward: the customer commitments are longer-dated than the quarter that spooked the tape.

Bottom Line The forward catalyst is already on the board. Corning guided Q3 core sales to $4.90 billion to $5.00 billion, roughly 16% year-over-year growth, and core EPS to $0.85 to $0.89, roughly 28% year-over-year growth. Solar is building toward a $3 billion revenue stream. The 45.88% July slide priced in a revenue miss and near-term execution risk. The Verizon deal, arriving on top of Amazon and NVIDIA, is the market’s chance to reassess whether the AI fiber order book was the real signal all along.

Contact [email protected] for any questions or corrections.

Corning and Qualcomm rallied on Tuesday and brought a host of AI-related stocks along with them, as a pair of infrastructure deals lifted Wall Street's confidence that data center spending will remain strong.

Chipmakers Intel and Advanced Micro Devices gained 9% and 6% respectively, while Hewlett Packard Enterprise climbed 8% and photonics company Coherent added 7%.

All of those companies have been massive winners for investors this year, with HPE and AMD more than doubling in value and Intel almost tripling, as the artificial infrastructure buildout expands to companies beyond Nvidia.

Corning, the glassmaker whose fiber-optic technology is becoming a key piece of AI data centers, jumped 8% on Tuesday bringing its gain for the year to 90%. The company said it's entering into a multibillion-dollar partnership with Verizon to build fiber-optic cables for AI connectivity. -

In June, Corning struck a multibillion-dollar deal with Amazon, a month after Nvidia promised to invest up to $3.2 billion in the company to build three new fiber-optic manufacturing facilities in North Carolina and Texas.

Meanwhile, Qualcomm said in a filing on Tuesday that it issued warrants to Amazon, allowing the cloud giant to acquire up to $4 billion worth of stock in the chipmaker. It's part of a pact between the two companies to build out AI infrastructure, with Amazon Web Services purchasing up to $60 billion worth of Qualcomm's server chips and other technology.

Qualcomm CFO Akash Palkhiwala said on Tuesday at the Goldman Sachs Communacopia + Technology Conference in San Francisco that revenue from manufacturing chips for Amazon will start to be realized n the December quarter, and will be one of the "core components" in helping the company meet its $15 billion data center revenue target for fiscal 2029.

At its investor day in June, Qualcomm said it was working with two unnamed data center companies. One of those was Amazon. Palkhiwala said Tuesday that the company is "similarly proceeding with the other data center customer."

AMD CFO Jean Hu also spoke at the Goldman event. She said that the total addressable market will now hit $3 trillion by 2030, after CEO Lisa Su said in July that the semiconductor industry would reach $2 trillion through 2028.

The frenzy for AI stocks comes as issues surrounding AI and data centers are at their most divisive. According to a May 2026 Gallup poll, 71% of Americans oppose data centers being built in their communities. That's translated directly into financial risk, with Anthropic poised to list negative public opinion towards AI and data centers as a risk factor in its forthcoming IPO prospectus.

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8.9.2026 16:34, AMGN, GLW, BE

Index Dow Jones -0,88 % na 52942,87 b. S&P 500 -0,35 % na 7691,61 b. Nasdaq Composite -0,35 % na 26413,63 b.

Nejsledovanější americké indexy se v úvodu obchodují v záporu.

Daří se akciím společnosti Freeport-McMoRan (+6,2 %), Intel (+6,2 %) a Coherent (+5,9 %). Růst zaznamenávají též akcie společnosti Corning (+5,8 %) v reakci na dohodu o rozšíření kapacity po navázání spolupráce se společností Verizon. Jejím cílem je rozšířit širokopásmové připojení a vybudovat celostátní dálkovou síťovou infrastrukturu pro provozovatele rozsáhlých datových center zaměřených na umělou inteligenci.

Naopak ztrácejí akcie Amgen (-7,2 %) poté, co společnost Novartis oznámila, že její lék na kardiovaskulární onemocnění v závěrečné fázi klinického hodnocení neuspěl. Dále klesá Howmet Aerospace (-5,9 %) a ServiceNow (-4,8 %).

Po oznámení o zařazení do indexu S&P 500, které proběhlo v pátek po zavření trhu, rostou též akcie společnosti Bloom Energy (+7,98 %).

Index S&P 500 -0,35 % na 7691,61 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Energie +1,2 % Zdravotní péče -1,9 % Utility +0,5 % Komunikační služby -0,9 % Reality +0,3 % Finanční sektor -0,7 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Freeport-McMoRan (FCX) +6,2 % Amgen (AMGN) -7,2 % Intel Corp (INTC) +6,2 % Howmet Aerospace (HWM) -5,9 % Coherent Corp (COHR) +5,9 % ServiceNow (NOW) -4,8 % Corning (GLW) +5,8 % Intuit (INTU) -4,8 % Lumentum Holdings (LITE) +5,5 % DoorDash (DASH) -4,6 % Zdroj: Bloomberg

Jan Prokeš
Fio banka, a.s.
Prohlášení

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.

Corning (GLW +0.02%) is reporting increasing demand for its products and services.

*Stock prices used were the afternoon prices of Aug. 27, 2026. The video was published on Aug.29, 2026.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Corning. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

It has been about a month since the last earnings report for Corning (GLW - Free Report) . Shares have added about 23.2% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Corning due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Corning Incorporated before we dive into how investors and analysts have reacted as of late.

Corning Beats Q2 Earnings Estimates on Optical and Solar Growth

Corning reported second-quarter 2026 results with non-GAAP earnings of 78 cents per share, up 30% year over year and 2.6% above the Zacks Consensus Estimate. Core revenues of $4.74 billion increased 17% and surpassed the consensus mark by 2.9%.

Revenue growth was primarily led by Optical Communications and Solar segments. Enterprise Networks sales jumped 65%, supported by accelerating demand for generative artificial intelligence (AI) infrastructure. Core operating margin also expanded as higher volumes and improved execution strengthened profitability.

Optical Sales Accelerate on AI Demand

Optical Communications remained the company’s largest growth engine, with sales rising 32% year over year to $2.07 billion. Segment net income surged 77% to $438 million, reflecting strong demand and favorable operating leverage.

Enterprise Networks drove the improvement as hyperscale customers expanded AI-related data center capacity. Corning also announced multiyear agreements with Amazon and NVIDIA, supporting further demand for optical fiber, cable and connectivity products. The NVIDIA partnership includes plans to increase U.S. optical connectivity manufacturing capacity tenfold and expand domestic fiber production capacity by more than 50%.

Solar Business Posts Sharp Growth

Solar revenues climbed 90% year over year to $438 million, making the segment the company’s fastest-growing operation. Sales also increased 18% sequentially as Corning continued to scale its polysilicon, wafer and module businesses.

The segment recorded a net loss of $7 million against a net income of $2 million a year earlier. Results were affected by an extended maintenance shutdown and equipment upgrade at the solar wafer facility. Management expects profitability to improve in the third quarter as production resumes and operating efficiencies strengthen.

GLW Expands Core Margins and Profitability

Core gross margin improved 120 basis points year over year to 39.6%. Core operating margin expanded 190 basis points to 20.9%, while core operating income rose to $989 million from $770 million.

Core net income increased 30% to $680 million. The stronger margin profile reflected higher sales volumes, a favorable business mix and improved scale. Core return on invested capital advanced 180 basis points to 14.9%, indicating better returns from the company’s asset base and growth investments.

On a GAAP basis, operating income rose to $698 million from $573 million. Selling, general and administrative expenses increased to $608 million from $515 million, while research, development and engineering expenses rose to $299 million from $276 million.

Corning’s Other Segments Deliver Mixed Results

Glass Innovations generated sales of $1.46 billion, up 1% year over year. Segment net income increased 9% to $354 million, showing improved profitability despite modest revenue growth. Automotive sales advanced 2% to $471 million, while net income increased 4% to $82 million. The business also improved sequentially, with revenues rising 8% and profit increasing 17% from the first quarter. Life Sciences and Emerging Growth Businesses remained a weak spot. Revenues declined 15% year over year to $294 million, while the segment posted a net loss of $21 million compared with net income of $6 million in the prior-year quarter.

Cash Flow Strength Lends Support

Corning generated $1.72 billion in operating cash flow during the quarter, up from $708 million a year earlier. Adjusted free cash flow reached $1.42 billion compared with $451 million in the prior-year period.

Capital expenditures totaled $422 million. Cash and cash equivalents were $2.50 billion at June 30, 2026, while long-term debt stood at $7.76 billion.

Outlook

For the third quarter, management expects core sales between $4.9 billion and $5 billion, representing approximately 16% year-over-year growth. Core earnings are projected between 85 cents and 89 cents per share, implying growth of roughly 28%.

Corning continues to target an annualized sales run rate of $20 billion by the end of 2026 under its upgraded Springboard Plan. The company also aims to reach $30 billion by the end of 2028 and $40 billion by the end of 2030, supported by AI infrastructure, solar expansion and deeper customer partnerships.

How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates review.

The consensus estimate has shifted 5.72% due to these changes.

VGM ScoresCurrently, Corning has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. Following the exact same course, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Corning has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

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.

Further Reading Five stocks we like better than Corning 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude? Okta Stock Surges 29%—Is $200 the Next Stop? 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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Key Takeaways Corning's Optical Communications sales rose 32% to $2.07B, while net income jumped 77% to $438M.Enterprise Networks sales climbed 65% as AI data centers drove demand for high-speed optical connectivity.Corning expects Scale-Up systems and tech partnerships to create further growth for its optical portfolio. Corning Incorporated (GLW - Free Report) is witnessing solid momentum in the Optical Communications segment. 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.

AI-driven data center investment is the biggest catalyst. The expansion of generative AI is increasing the amount of high-speed optical connectivity needed inside and between data centers. This is driving strong demand for Corning’s GenAI-related enterprise products. Within the optical communications segment, Enterprise Networks sales increased 65% year over year.

The company disclosed that its current growth is primarily driven by Scale-Out infrastructure. In Scale-Out infrastructure, operators connect large numbers of servers and GPUs leveraging high-bandwidth optical links. Beyond the current Scale-Out opportunity, the company expects significant potential from Scale-Up systems. In Scale-Up systems, high-bandwidth connections are needed between GPUs and other computing components. This will likely create another major growth opportunity for Corning’s optical connectivity portfolio in upcoming years.

Its growth prospect is strengthened by strategic relationships with major tech organizations. Amazon announced a multiyear, multibillion-dollar agreement with Corning. Per the deal. Amazon will utilize Corning’s optical fiber, cable and connectivity solutions for its U.S. data center infrastructure. NVIDIA and Corning are also collaborating for expansion of U.S. optical connectivity manufacturing capacity. Such collaborations bode well for sustainable growth.

How Are Competitors Faring?Corning faces competition from Amphenol Corporation (APH - Free Report) and Ciena Corporation (CIEN - Free Report) in this domain. Amphenol’s high-speed copper, fiber optic and power interconnect portfolio gives it exposure across multiple AI data-center architectures. In second-quarter 2026, Communications Solutions revenues jumped 85% year over year to $5.38 billion. The segment remained Amphenol’s largest business, benefiting from strong demand for high-speed connectivity applications, particularly in the IT datacom market.

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. Networking Platforms remained the largest contributor for Ciena, generating $1.27 billion in revenues and representing 81.1% of total sales. Within the segment, Optical Networking revenues increased to $1.10 billion from $773.6 million a year ago.

Corning's Price Performance, Valuation & EstimatesCorning has gained 124.4% compared to the communications components industry’s growth of 193.3%.

Image Source: Zacks Investment Research

From a valuation standpoint, GLW is currently trading at a discount compared with the industry. Going by the price/earnings ratio, the company’s shares currently trade at 38.22 forward 12-month earnings, higher than 37.41 for the industry.

Image Source: Zacks Investment Research

Earnings estimates for Corning for 2026 and 2027 have increased 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.

Advisors Capital Management LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,806 shares of the electronics maker’s stock, valued at approximately $972,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. 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 valued at $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Corning by 52.7% in the fourth 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 during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity In related news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated 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 directly owned 908,353 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Corning Stock Performance NYSE GLW opened at $149.91 on Friday. Corning Incorporated has a twelve month low of $65.09 and a twelve month high of $271.78. 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 stock has a market cap of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.94 and a beta of 1.14. The company’s 50-day simple moving average is $174.83 and its 200 day simple moving average is $163.35. 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 the consensus estimate 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 analyst estimates of $4.63 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’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. As a group, research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend yield of 0.7%. Corning’s dividend payout ratio is presently 51.14%.

Wall Street Analysts Forecast Growth Several research firms recently weighed in on GLW. Oppenheimer reduced 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. Barclays lowered their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.08.

Read Our Latest Report on Corning

About Corning (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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DENVER--(BUSINESS WIRE)--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 por.

Algebris UK Ltd. purchased a new stake in Corning Incorporated (NYSE:GLW – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,783 shares of the electronics maker’s stock, valued at approximately $1,727,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Co. Ltd. bought a new position in Corning in the 2nd quarter valued at about $54,154,000. Puzo Michael J bought a new stake in shares of Corning during the 2nd quarter worth approximately $243,000. Geneva Partners LLC bought a new stake in shares of Corning during the 2nd quarter worth approximately $12,695,000. Madison Asset Management LLC acquired a new stake in shares of Corning during the 2nd quarter worth approximately $348,000. Finally, Csenge Advisory Group acquired a new stake in shares of Corning during the 2nd quarter worth approximately $941,000. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades GLW has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Bank of America raised their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Morgan Stanley decreased their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen cut Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

View Our Latest Stock Analysis on GLW Insider Activity at Corning In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’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 value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale 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 firm’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 transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by company insiders.

Corning Trading Down 4.6% NYSE GLW opened at $152.52 on Thursday. The company has a market cap of $131.38 billion, a price-to-earnings ratio of 69.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. 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 business’s fifty day moving average is $175.94 and its 200 day moving average is $163.10.

Corning (NYSE:GLW – Get Free Report) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during 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%.The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend The firm also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 51.14%.

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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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.

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David Tepper’s Appaloosa Management closed out 12 positions entirely in the Q2 2026 13F filed August 14, 2026, and the pattern beneath the list reveals a fund narrowing sprawling thematic bets down to single-name conviction plays.

The complete exit list, as of June 30, 2026: SanDisk (NASDAQ:SNDK | SNDK Price Prediction) 281,250 shares, Corning (NYSE:GLW) 1,129,500 shares, PDD Holdings (NASDAQ:PDD) 900,000 shares, JD.com (NASDAQ:JD) 1,305,000 shares, L3Harris Technologies (NYSE:LHX) 198,000 shares, RTX (NYSE:RTX) 342,000 shares, Ball Corporation 837,000 shares, Microsoft (NASDAQ:MSFT) 90,000 shares, the KraneShares CSI China Internet ETF (NYSEARCA:KWEB) 1,080,000 shares, UnitedHealth 90,000 shares, Lyft (NASDAQ:LYFT) 2,700,000 shares, and Deutsche Bank 257,616 shares.

Five of these deserve a closer look.

Tepper Trims Memory First, the memory move. Tepper’s 2026 track record was built on chips. Bloomberg reported Appaloosa returned 32% in the first half of 2026 driven by memory-chip makers. Yet he walked entirely out of SanDisk, a stock up 591.34% year-to-date through August 14 and boasting a 5-quarter EPS beat streak with Q4 FY2026 revenue of $8.97 billion and gross margin of 84.6%. Tepper’s exit from SanDisk would have looked brialliant as the stock imploded throughout July, but shares have rebounded in recent weeks. SanDisk issued a long-term framework this year that forecasts non-GAAP gross margins at 80% in the 2028 to 2030 period.

Tepper Exits Defense Stocks and Two Chinese Positions Second, the paired defense walkout. RTX and L3Harris both went to zero shares held in the same quarter despite RTX raising FY2026 EPS guidance to $7.10-$7.25 and L3Harris signing a seven-year THAAD/PAC-3 framework worth approximately $12 billion of future production revenue.

Third, the China dismantling. He exited PDD, JD.com, and the KWEB ETF, and trimmed Alibaba by 1,465,000 shares.

What He Kept Tells You More Than What He Sold Yet, Tepper did not completely abandon memory. He trimmed Micron by 690,000 shares but still held 975,000 shares valued at $1,125,432,750, one of his largest disclosed positions. Micron (NASDAQ:MU) offers 16 Strategic Customer Agreements with $100 billion in RPO and floor prices delivering margins “well above our peak quarterly margins in any past cycle.” Similarly, on China: he added 602,900 shares to Baidu, taking that stake to 1,295,000 shares valued at $148,005,550. Baidu (NASDAQ:BIDU) offers one of the cleanest AI narratives in China, with GPU Cloud revenue up 184% year-over-year and AI-powered business crossing 52% of Baidu General Business revenue. Defense is the outlier: no survivor, no substitute.

A Mixed Bag Since Q2 It appears to be a mixed bag on Tepper’s Q2 moves. Moves that look good right now include SanDisk trading at $1,641.11, still off its $2,273.73 price on June 30. GLW is down 35.02% since June 30. RTX, by contrast, has rallied 17.9% since the quarter closed, and LYFT is up 19.64%. Baidu is down 9.29% since June 30th.

The Takeaway This is a 13F. Point-in-time holdings as of June 30, 2026, disclosed roughly 45 days later, and not necessarily current positions. Funds sell for tax, liquidity, and portfolio-construction reasons, so an exit does not equal a bearish call. The actionable signal is structural: Tepper is still holding memory but has lightened his bet on the space. Meanwhile, he’s completely exited his defense positions.

Contact [email protected] for any questions or corrections.

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SummaryCorning Incorporated is a critical AI infrastructure partner, benefiting from robust data center and high-speed data transfer demand.GLW trades at a 52% premium to the sector median, reflecting market recognition of its superior fundamentals and AI-driven growth.Multi-year partnerships with leading tech companies like Nvidia and Meta reinforce GLW's strategic positioning and growth prospects.Despite premium valuation and inherent risks, I rate GLW a Buy, confident in its sustained outperformance and steady dividend. akinbostanci/iStock via Getty Images

Corning (GLW) was another AI-related name on my list for quite some time. Yet finally I've decided to initiate my coverage. Why now? A few reasons. Well, in my opinion, the bullish AI narrative has strengthened, and to be frank, GLW has

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA, META either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Corning is upgraded to 'Buy' as improved fundamentals and reset valuation align with disciplined entry post-volatility. GLW delivered two consecutive earnings beats, with Q2 core sales up 17% Y/Y and EPS up 30% Y/Y, driven by strong optical and AI data center demand. Long-term agreements with Nvidia, Amazon, and Meta anchor Springboard revenue targets, supporting a 19% sales CAGR through 2028 and faster EPS growth.

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Corning (NYSE:GLW | GLW Price Prediction) currently trades at $146.64, while the average Wall Street price target sits at $193.40. That leaves a consensus-implied upside of roughly 32%, and one major U.S. bank sees far more room than that.

Corning is a 175-year-old materials science company that has become one of the most important suppliers to the AI infrastructure buildout. Its Optical Communications business sells fiber and connectivity to hyperscalers standing up AI factories, including multiyear, multibillion-dollar agreements with Amazon and NVIDIA. Wall Street has been paying attention because that segment is now the growth engine, and the recent selloff has opened one of the widest gaps between price and analyst target the stock has seen in years.

A Guidance-Driven Air Pocket After a Beat The core cause of the drop was a soft third-quarter sales outlook alongside otherwise strong Q2 numbers. Corning reported core EPS of $0.78 against a $0.7538 estimate, but revenue of $4.505 billion came in 2.69% below the $4.63 billion consensus. Q3 sales guidance of $4.9 billion to $5.0 billion struck investors as conservative given the AI narrative priced into the shares.

Shares are down 25.48% over the past month, dropping from $196.79 to current levels. That decline came against an S&P 500 that gained 1.73% over the same stretch, marking a company-specific unwind.

Underlying the shock was a valuation reset. With a PE of 64, Corning was priced for accelerating optical growth, and any hint of deceleration hurt. Barclays cut its target and flagged “high implied AI valuation” concerns. Insider activity has skewed toward selling, which did not help sentiment.

Why the Bulls Are Doubling Down Analysts have not moved off the growth thesis. BofA Securities analyst Wamsi Mohan actually raised his price target to $243 from $223 while maintaining a Buy rating, implying roughly 66% upside. Mohan’s math applies a 37x multiple to his calendar 2028 EPS estimate of $6.50, up from $5.95.

The bull case rests on three pillars:

First, AI optical interconnect demand: Optical Communications revenue grew 32% to $2.072 billion with Enterprise Networks surging 65%, and Corning is expanding U.S. fiber capacity by more than 50% to serve NVIDIA. Second, the upgraded Springboard plan targets $40 billion in annualized sales by end of 2030 at a 19% sales CAGR. Third, glass substrates for advanced chiplets and GlassBridge technology for co-packaged optics offer optionality not in the current model.

Per Alpha Vantage’s compilation, 11 analysts rate GLW a Buy, 4 rate it Hold, and 1 rates it Sell. Recent revisions have been mixed, with Truist upgrading to Buy at a $175 target calling the pullback an “attractive entry point,” while Barclays trimmed to $129.

Optical Peers Held Up Better Corning fell alone. The optical AI cohort sold off modestly, but nothing close to GLW’s drawdown.

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Ciena (NYSE:CIEN) trades at $390.76, down 7.5% over the past month. Its average analyst target of $565.71 implies roughly 45% upside, with 13 Buy or Strong Buy ratings against 6 Holds and 1 Sell. Wall Street sees larger percentage upside here than in the GLW consensus target.

Coherent (NYSE:COHR) sits at $288.14, off 13.56% in the past month. Its $391.45 target implies about 36% upside, backed by 17 Buy-side ratings and 5 Holds with no sells. Recent revisions have trended higher on the NVIDIA partnership.

The largest bank-specific upside in the group belongs to Corning through the BofA call. GLW fell hardest and carries the widest single-analyst target gap.

What the Data Says Now Corning trades at $146.64 against a consensus target of $193.40 from 16 covering analysts, an implied upside of roughly 32%. Analyst targets are one data point among many.

Despite the recent drop, GLW is up 68.04% year to date and 138.93% over the past year, against an S&P 500 that has returned 11.11% year to date. The forward PE of 43 is demanding but well below the trailing multiple.

Weighing the AI Fiber Story Against the Multiple Reset The bull case works if Optical Communications keeps compounding at a 30%-plus clip through 2028 and management delivers on Springboard 2030 targets. The path back to $193 runs through Q3 execution, further hyperscaler wins beyond Amazon and NVIDIA, and margin expansion from manufacturing automation. Hit those, and Mohan’s $6.50 EPS by 2028 becomes credible.

The bear case holds if this is a classic multiple-reset trap. A forward PE of 43 bakes in flawless execution, solar remains a net loss during ramp, Life Sciences fell 15% YoY, and tariffs plus FX volatility remain live risks. If AI capex slows, the fiber growth story cools quickly.

The optical demand backdrop is real, the free cash flow inflection (up 255.75% YoY) reflects real fundamentals, and the selloff looks disproportionate to the actual guidance signal. BofA’s 66% call is aggressive, but even the consensus 32% gap is worth respecting at these levels.

If You'd Bought Amazon When the Motley Fool Said To…In September 2002, Stock Advisor told subscribers to buy Amazon. In December 2004, Netflix. In April 2005, Nvidia. The newsletter still publishes two new stock picks every month — and over 23 years, has more than quadrupled the S&P 500. Here's how to get this month's picks:

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GLW has fallen 13.9% in three months, but AI infrastructure, solar and automotive growth could support demand as investors weigh key risks.

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.

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Stock to Watch: Corning (GLW - Free Report) New York-based Corning Incorporated started out as a glass business that was reincorporated in 1936. The company has since developed its glass technologies to produce advanced glass substrates that are used in a large number of applications across multiple markets. Corning reports results under five operating segments following changes to its reporting structure in the first quarter of 2026.

GLW is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. GLW has a Growth Style Score of B, forecasting year-over-year earnings growth of 29% for the current fiscal year.

Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.06 to $3.25 per share. GLW boasts an average earnings surprise of +1.8%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, GLW should be on investors' short list.

Posted by Defense World Staff on Jul 30th, 2026

Amundi reduced its position in Corning Incorporated (NYSE:GLW – Free Report) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,958,324 shares of the electronics maker’s stock after selling 696,930 shares during the quarter. Amundi owned about 0.46% of Corning worth $538,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GLW. Merit Financial Group LLC grew its holdings in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after acquiring an additional 6,493 shares during the period. Security National Bank lifted its holdings in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares during the period. Principal Financial Group Inc. boosted its position in shares of Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Finally, Three Seasons Wealth LLC purchased a new position in shares of Corning in the 4th quarter valued at about $1,750,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 1.5% Shares of Corning stock opened at $124.06 on Thursday. Corning Incorporated has a twelve month low of $61.44 and a twelve month high of $271.78. The stock has a market cap of $106.77 billion, a price-to-earnings ratio of 56.65, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $185.16 and a 200 day moving average price of $156.53.

Corning (NYSE:GLW – Get Free Report) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during 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 business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s payout ratio is 53.59%.

Insiders Place Their Bets In other news, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

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

Positive Sentiment: Corning reported second-quarter revenue of $4.74 billion, up 17% year over year, while core EPS rose 30% to $0.78, exceeding the $0.76 consensus estimate. Corning Q2 results Positive Sentiment: Optical Communications sales increased 32% to $2.07 billion, led by a 65% gain in Enterprise Networks as generative-AI products continued to grow rapidly. Solar sales also climbed 90%, supporting revenue, margins and free cash flow. Corning beats Q2 estimates Positive Sentiment: Management highlighted demand from AI data centers and its Springboard plan, which is intended to accelerate sales and profitability. Corning’s fiber products are benefiting from the shift toward higher-bandwidth data-center networks. GLW AI growth plan Neutral Sentiment: Citigroup maintained a Buy rating but reduced its price target from $240 to $220. JPMorgan lowered its target from $200 to $170 and kept a Neutral rating, indicating analysts still see potential upside but have moderated expectations. Analyst target changes Negative Sentiment: Third-quarter revenue guidance of $4.9 billion to $5.0 billion was viewed as roughly in line with, rather than above, Wall Street’s $5.0 billion expectation. Although EPS guidance of $0.85-$0.89 exceeded the consensus midpoint, investors wanted a stronger outlook after the stock’s prior AI-driven rally. Corning guidance reaction Negative Sentiment: The guidance disappointment triggered a broad selloff in optical and AI infrastructure stocks. Analysts and market commentators also cited valuation concerns and a possible rotation away from recent AI winners, making the earnings beat insufficient to support the share price. Corning AI trade and guidance Wall Street Analyst Weigh In A number of research analysts have issued reports on GLW shares. Bank of America increased their target price on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Morgan Stanley cut their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Citigroup reduced their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.38.

Read Our Latest Stock 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.

Further Reading Five stocks we like better than Corning Why SK hynix Could Be the Best AI Chip Stock to Buy Now Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead? Why Bloom Energy May Be the Most Important AI Infrastructure Stock 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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Corning Inc. (NYSE:GLW) on Tuesday reported better-than-expected second-quarter 2026 results.

Adjusted earnings rose 30% year over year to 78 cents per share, topping analysts’ estimates of 76 cents. Revenue increased 17% to $4.74 billion, ahead of the consensus estimate of $4.61 billion.

For the third quarter, Corning expects adjusted earnings of 85 cents to 89 cents per share, compared with analysts’ estimate of 85 cents. The company forecast revenue of $4.9 billion to $5.0 billion, representing about 16% year-over-year growth and broadly in line with the consensus estimate of $4.97 billion.

Corning shares gained 0.2% to trade at $126.25 on Wednesday.

These analysts made changes to their price targets on Corning following earnings announcement.

Considering buying GLW stock? Here’s what analysts think:

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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