Why Apple's Glass Supplier Corning Shares Are Jumping Premarket Today
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 08 2024
0mins
Should l Buy GLW?
Source: Benzinga
- Corning's Increased Guidance: Corning Incorporated raised its second-quarter core sales guidance to approximately $3.6 billion, exceeding previous estimates.
- Earnings Per Share Outlook: The company expects core EPS to be at the high end of or slightly above the guided range of $0.42 to $0.46.
- Sales Growth Projections: Anticipates over $3 billion in annualized sales growth over the next three years driven by new products and market trends.
- Confidence in Future Growth: Corning's CEO expressed confidence in the company's growth plan, aiming for significant sales increase and profitability.
- Stock Performance: Corning stock rose nearly 10% in the last year, with current premarket trading showing a 6.40% increase at $40.90.
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Analyst Views on GLW
Wall Street analysts forecast GLW stock price to fall
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 136.220
Low
83.00
Averages
99.00
High
110.00
Current: 136.220
Low
83.00
Averages
99.00
High
110.00
About GLW
Corning Incorporated operates as an innovator in materials science. Its segments include Optical Communications, Display Technologies, Specialty Materials, Environmental Technologies, and Life Sciences. Its Optical Communications segment manufactures carrier network and enterprise network components for the telecommunications industry. Its Display Technologies segment manufactures glass substrates for flat-panel displays, including liquid crystal displays and organic light-emitting diodes. Its Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals for customer needs. Its Environmental Technologies segment manufactures ceramic substrates and filters for emission control systems in mobile applications. Its Life Sciences segment develops, manufactures and supplies laboratory products, including labware, equipment, media, serum and reagents, enabling workflow solutions for drug discovery and bioproduction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Management Team Continuity: The new company will be led by the existing Google Fiber executive team, leveraging their expertise in high-speed fiber innovation to manage the combined network footprint, aiming to enhance service quality and market competitiveness.
- Path to Financial Independence: This spinout positions Google Fiber for financial independence, with external capital facilitating nationwide expansion to meet the rising demand for artificial intelligence services, reflecting a strategic emphasis on high-capacity network infrastructure.
- Market Context Analysis: Since its launch in 2010, Google Fiber has faced multiple canceled expansion plans, yet the increasing demand for fiber infrastructure driven by cloud computing, streaming, and emerging AI services has prompted the company to reassess its market strategy.
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- Market Demand: As AI chips and cluster sizes expand, data center customers require connections for an increasing number of accelerators, with traditional short-reach copper links being replaced by optical connections, leading to thousands of fibers per server and switch rack.
- Technological Advantages: The PRIZM® TMT ferrule utilizes precision-aligned microlenses to provide faster and more reliable installations, greater contamination resistance, and reduced total cost of ownership, all critical in high-density AI data center deployments.
- Industry Exhibition: Corning will showcase the PRIZM® TMT technology at the 2026 Optical Fiber Communication Conference (OFC), where attendees can learn about its role in supporting emerging data center connectivity strategies at Corning's booth (#1739).
See More
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- Surging Market Demand: Corning's optical communications business generated $6.2 billion in revenue in 2025, reflecting a 35% year-over-year increase driven by data center operators' urgent need for fiber optics, highlighting the critical role of high-speed data transmission in AI development.
- Profitability Boost: The optical communications segment achieved a record $1 billion profit in 2025, up 71% from the previous year, showcasing strong market demand and granting the company significant pricing power, thereby reinforcing its leadership position in the industry.
- Future Growth Potential: CEO Wendell Weeks predicts that the market for data center optical fiber could triple in size over the long term, indicating that the ongoing evolution of AI technology will sustain rising demand for fiber optics, further propelling the company's performance.
- Investment Value Analysis: Although Corning's P/E ratio stands at 48.9, significantly higher than the Nasdaq-100's 31.8, analysts project earnings per share to grow to $3.11 in 2026 and $3.87 in 2027, suggesting potential investment opportunities as future earnings forecasts may be revised upward.
See More
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- Surging Market Demand: Driven by the artificial intelligence sector, Corning anticipates a tripling of the data center optical fiber market, reflecting strong demand for its fiber products and further solidifying the company's leadership in high-speed data transmission.
- Significant Revenue Growth: In 2025, Corning reported core revenue of $16.4 billion, a 13% increase year-over-year, with its optical communications segment contributing $6.2 billion, growing at an impressive 35%, showcasing the company's robust performance in the fiber market.
- Enhanced Profitability: The optical communications business achieved a record profit of $1 billion in 2025, up 71% from the previous year, which not only boosts the company's overall profitability but also provides funding for future investments and expansions.
- Valuation Analysis: Despite Corning's P/E ratio of 48.9, significantly higher than the Nasdaq-100's 31.8, analysts project its earnings per share will rise to $3.11 in 2026, indicating that holding the stock long-term could yield substantial returns.
See More
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- Investor Sentiment: Investors may be increasingly optimistic about the future of renewable energy, leading to significant gains in this sector.
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See More
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- Corning Stock Surge: Corning's shares jumped 7.6% following AT&T's announcement of a $250 billion investment over the next five years to build high-speed networks, positioning Corning favorably due to its leadership in optical fiber and cable manufacturing.
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