Corning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses across the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally. The company provides optical fibers and cables, as well as hardware and equipment such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. It also offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. In addition, Corning manufactures products with material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for markets such as mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. The company further provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications, as well as technical glass and optic products and solutions for vehicle interiors and exteriors. It also offers laboratory products, including plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Falcon, PYREX, and Axygen brands. Additionally, it offers polysilicon products and pharmaceutical glass tubing and vials. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.
Cramer Urges Patience as Corning Launches $2 Billion Stock Sale
Jim Cramer told Mad Money viewers to wait for Corning Incorporated to fall further before trimming or holding, citing the company's at-the-market selling program. Corning disclosed on September 11 that it had entered an agreement with Goldman Sachs to sell up to $2 billion of common stock through an at-the-market offering, with proceeds intended for general corporate purposes. The prospectus assumes raising the full $2 billion at $165.96 per share would require issuing 12,051,097 shares, increasing shares outstanding from 861,388,331 to 873,439,428. The offering came as Corning's optical business remained strong: at a September 9 Citi conference, CFO Ed Schlesinger said optical demand was very strong and orders continue to pick up, and second-quarter Optical Communications sales rose 32% year over year to $2.07 billion while core sales increased 17% to $4.74 billion. The bear case centers on execution, as Corning targets a $10 billion scale-up photonics business by the end of the decade tied largely to adoption of NPO and CPO technologies, and expects full-year 2026 capital expenditures of approximately $2 billion compared with $754 million spent in the first half of the year.
AFL, Corning, Sumitomo Electric and TeraHop Complete SDM4 Multicore Fiber MSA, Release Version 1.0 Specification
AFL, Corning Incorporated, Sumitomo Electric Industries, Ltd., and TeraHop PTE. LTD. announced the completion of the SDM4 Multicore Fiber Multi-Source Agreement and the public release of the SDM4 Multicore Fiber MSA Technical Specifications, Version 1.0. The specification defines common geometrical, optical, mechanical and measurement requirements for a four-core multicore fiber intended for AI data centers, campus networks and other short-reach optical links, completing the objective the MSA set out to achieve: an industry-defined technical foundation for multi-vendor interoperability and future international standardization of four-core multicore fiber. Key elements include a four-core, square-lattice 2x2 core arrangement with a core pitch of 40 plus or minus 1 micrometers, a nominal cladding diameter of 125 micrometers, optical characteristics suitable for O-band short-reach applications, and crosstalk limits of minus 40 dB or less at 1 km and 1310 nm for both adjacent and diagonal core pairs. Antonio Castano, Chair of the SDM4 MCF MSA, said the specification establishes a common technical foundation that can help accelerate adoption of multicore fiber across the industry by aligning around a shared four-core fiber design. The MSA said frequent revisions are not anticipated and that future evolution of requirements for this class of fiber is expected to be advanced through relevant international standards-development organizations, with the published specification serving as a technical reference for discussions within ITU-T, IEC and organizations such as IEEE.
Corning Expands AI Partner Base With Meta, Amazon, Nvidia, Verizon Deals
Corning Incorporated is expanding its partner base across the technology, cloud, networking and telecom sectors, signing a series of multibillion-dollar agreements tied to AI infrastructure buildouts. In the first half of 2026, Corning entered a multiyear agreement worth up to $6 billion with Meta to supply optical fiber, cable and connectivity products for Meta's U.S. data-center expansion, and also signed a multibillion-dollar, multiyear agreement with Amazon to support its AI data center expansion. Corning has additionally formed a multiyear commercial and technology partnership with NVIDIA under which it plans to increase its U.S. optical-connectivity manufacturing capacity tenfold and expand U.S. fiber production by more than 50 percent. 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, supporting both broadband expansion and the long-haul network needed to connect AI infrastructure. Beyond those large contracts, Corning is collaborating with US Conec as a licensee of the PRIZM TMT optical ferrule technology, designed to accommodate higher fiber counts in tighter spaces for denser AI data centers. Corning faces competition from Amphenol Corporation and Ciena Corporation, and its growth outlook remains dependent on the pace of AI infrastructure investment and the timing of large customer deployments.
Corning Shares Double as Reaves Flags Strong Long-Term Outlook Upgrade
Corning Incorporated shares doubled during the second quarter of 2026, according to Reaves W H & Co Inc's second-quarter 2026 investor letter, which highlighted the company as a leading contributor to its Reaves Long Term Value Wrap Strategy. The letter said management used an investor day to deliver strong, positive revisions to its multi-year outlook, and that late in the quarter global competitors added further fuel to the rally by citing robust demand and pricing for fiber optic products. Corning's CFO also floated the possibility of building a production facility in South Korea for glass substrates used in semiconductor chip packaging, a product line the letter described as incremental to management's investor-day forecasts. Corning closed at $144.16 per share on September 16, 2026, returned 1.41% over the past month, gained 92.89% over the past 52 weeks, and carries a market capitalization of $125.38 billion. The Reaves Long Term Value Wrap Strategy rose 10.55% in the quarter, outperforming the MSCI USA Infrastructure Index's 6.31% decline, while cash distributions grew 6.7% compared to the second quarter of 2025.
Corning announces display glass substrate price hikes of over 15%, WG Tech opens limit-up
On September 17, the glass substrate sector rallied, with WG Tech quickly surging to its daily limit-up at the open, while Linuo Packaging, BOE, Caihong Display Devices, and Red Star Development followed higher. On the news front, on September 11, Corning announced that due to exchange rate and inflation factors, it will implement price adjustments of 15% or more globally for yen-denominated display glass substrate products, effective from the fourth quarter of 2026.
Corning Falls 12.7% on $2 Billion Stock Sale; Baldwin Insurance Jumps 7.9% on $7.7 Billion Take-Private
Corning shares fell 12.7% on Monday after the glass and electronic component manufacturer disclosed an at-the-market equity distribution agreement with Goldman Sachs to sell up to $2 billion of its common stock. Baldwin Insurance Group rose 7.9% after announcing a definitive agreement to be taken private through a majority investment by Sequence Holdings and DFO Management in an all-cash deal valued at approximately $7.7 billion. Gartner gained 7.7% as it kicked off its IT Symposium/Xpo conference, highlighting major technology trends and emphasizing how agentic artificial intelligence and modern governance are reshaping public sector operations. Jabil dropped 5.1% after Goldman Sachs lowered its price target on the shares to $375, while Accenture rose 5.2% after Morgan Stanley raised its price target on the stock to $175.
Corning Shares Fall 12.7% After $2 Billion At-The-Market Stock Sale Deal With Goldman Sachs
Corning shares fell 12.7% in the afternoon session after the company disclosed an at-the-market equity distribution agreement with Goldman Sachs to sell up to $2 billion of its common stock. Under the terms of the agreement, Corning can offer and sell shares of common stock from time to time through Goldman Sachs as sales agent. The decline reflects investor concerns surrounding shareholder dilution, since an at-the-market offering issues newly created shares directly into the public market, increasing the total outstanding share count and potentially diminishing existing shareholders' proportional ownership and earnings per share. The sizable $2 billion program prompted immediate selling pressure as market participants weighed the potential dilutive impact on equity value. The move follows a 8.7% gain 6 days ago, when Corning announced a multi-year, multi-billion-dollar supply agreement with Verizon through 2032 to deliver more than 80 million miles of high-density optical fiber and advanced connectivity solutions.
Corning Falls 12% on $2 Billion At-the-Market Equity Offering
Corning disclosed a $2 billion at-the-market equity distribution program with Goldman Sachs as exclusive sales agent, sending its shares down 12% to $145.61 in Monday afternoon trading and making it the worst performer in the S&P 500. The open-ended structure sets no fixed price or share count, leaving Corning in control of timing and size, and net proceeds are earmarked for general corporate purposes under a shelf registration filed earlier this year. The selloff spread across the AI optical connectivity group, with Coherent down 11% to $273.30, Lumentum down 9% to $843, and Fabrinet down 6% to $389.69, declines the article attributes to sympathy selling tied to weekend commentary from senior AI laboratory figures urging a slower pace of frontier capability gains. NVIDIA sits at the center of that read-through as the key optical connectivity customer, and it has separately committed funding through a warrant arrangement to support Corning's optical capacity expansion. Corning has guided Q3 2026 core sales of $4.9 billion to $5 billion, and the article notes that the company's next disclosure on program usage could matter more to the price than the headline dollar figure.
Cramer Questions Amodei AI Slowdown Essay, Warns on Nvidia
Jim Cramer questioned the motives behind Anthropic CEO Dario Amodei's weekend essay calling for a slower pace of AI development, warning that any genuine slowdown in data center construction could weigh on Nvidia stock, according to CNBC. Amodei published the essay Saturday under the title "We Must Pace the Frontier," calling on AI companies to moderate the rate of capabilities development, a position OpenAI CEO Sam Altman and Elon Musk of xAI both voiced support for. Cramer called the essay "extremely self-serving" and offered two theories: that lighter capital expenditures from a slowdown could make Anthropic's IPO prospectus look more attractive, and that inviting regulators to set strict rules would block newer, smaller AI startups from competing. David Sacks, co-chair of the President's Council of Advisors on Science and Technology and the White House's AI and crypto adviser, countered on X that demanding a preferred regulatory framework as the price of pacing the frontier "will look like blackmail of the public and the political system." Cramer said the more immediate market concern is Nvidia, which he described as financially intertwined with companies that benefit from accelerating data center construction, and noted his charitable trust had already started pulling back from data center holdings, including cutting Corning from the portfolio. AI-linked stocks declined Monday as Wall Street weighed the weekend statements, while President Donald Trump rejected the slowdown argument on Sunday, saying any reduction in pace was unwarranted and would erode the United States' competitive advantage over China.
Corning Signs Multi-Billion-Dollar Fiber Deal With Verizon
Corning Incorporated has entered into a multi-year, multi-billion-dollar agreement with Verizon Communications Inc. to support the expansion of broadband networks and next-generation artificial intelligence infrastructure. Under the deal, Corning will supply more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032 for Verizon's nationwide broadband expansion, serving residential customers, businesses and mobile networks, and including high-capacity fiber for long-haul network corridors connecting data centers. The agreement, spanning more than three decades of partnership, is expected to support Corning's U.S. manufacturing expansion as it scales production to meet growing demand. Corning faces competition from Amphenol Corporation and Lumen Technologies, which are also expanding fiber-optic and high-capacity network capabilities for AI and data-center connectivity. Corning shares have rallied 124.8% over the past year, and earnings estimates for 2026 have increased 2.5% to $3.27 while 2027 estimates have risen 1.7% to $4.28 over the past 60 days.
Verizon and Corning Sign 80 Million Mile Fiber Deal
Verizon and Corning have reached a multiyear, multibillion-dollar agreement for over 80 million miles of high-density optical fiber, aimed at expanding broadband connectivity and building networks for AI data centers. Corning, which is manufacturing the fiber, benefits more than Verizon, as the deal adds to its existing contracts with Meta, Amazon, and NVIDIA. Corning shares rose 14.04% over the past week to close at $165.99, while Verizon closed at $50.41, up 29.99% year to date. Corning rates a Buy with a forward P/E of 35x and an analyst target of $191.40, while Verizon is a Hold, best owned for its covered dividend of $0.7075 per quarter.
Corning Stock Crashed 46% in July Despite Amazon, Nvidia, and Verizon Deals
Corning's stock fell 45.88% in July 2026, from $254.95 to $137.99, even as the company announced multibillion-dollar fiber agreements with Amazon, Nvidia, and Verizon. The selloff was triggered by a 2.69% revenue miss in Q2, despite a fifth consecutive EPS beat and free cash flow surging 255.75% to $1.423 billion. CEO Wendell Weeks targets $40 billion in annualized sales by 2030, with Q3 EPS guided 28% higher. The stock has since recovered, up 13.01% over the past week and 92.93% year to date.
Verizon and Corning Sign Multi-Billion Dollar Fiber Supply Deal Through 2032
Verizon and Corning have announced a multi-billion dollar supply agreement for over 80 million miles of high-density optical fiber and connectivity solutions from 2027 to 2032, aimed at expanding broadband access and building AI infrastructure. The deal supports Verizon's push toward 40-50 million broadband passings and its AI Connect strategy, which deploys ultra-dense cables across long-haul corridors to connect data centers. Corning will scale its U.S. manufacturing to supply products like Corning Contour Flow Cable, deepening a 30-year partnership. Verizon CEO Kyle Malady and Corning's Mike O'Day highlighted the deal's role in enabling a converged network for homes, businesses, and AI hyperscalers such as Amazon Web Services.
Four U.S. Companies to Invest $2 Billion in South Korea in Semiconductors and Energy
South Korea's Ministry of Trade, Industry and Energy announced on the 4th that four U.S. companies have decided to invest a total of $2 billion in South Korea in the fields of semiconductors, advanced materials, and energy. The investments were announced at a ceremony attended by Trade Minister Cheong In-kyo in Washington on the 3rd. U.S. industrial gas giant Air Products will expand facilities for semiconductor gases and rare gases in Pyeongtaek, Gyeonggi Province, and semiconductor equipment maker Axcelis will expand its production of ion implantation equipment in South Korea. Additionally, materials giant Corning will invest in advanced glass and other materials used in displays and semiconductors, and renewable energy developer Pacifico Energy will proceed with a 3.2-gigawatt offshore wind power project in the southwest, where a new semiconductor cluster is expected to be established.
Amazon Signs Multibillion-Dollar Fiber Deal with Corning
Amazon has signed a multiyear, multibillion-dollar agreement with Corning Incorporated for optical fiber, cable, and connectivity products, marking a strategic move to secure supply for its AI infrastructure. The deal, announced on June 8, is expected to support about 1,000 jobs in North Carolina, as Amazon pushes annual capital spending toward roughly $220 billion. Corning also has a separate agreement to provide Meta with up to $6 billion of products, reinforcing the view that optical infrastructure is becoming a durable bottleneck. Amazon benefits from securing supply and shaping products for its own architecture, while Corning gains scale and a marquee customer, though both face risks: Amazon must spend before AI revenue fully arrives, and Corning faces customer concentration and cyclicality. Hedge-fund ownership increased for both companies, with Amazon held by 369 funds and Corning by 99 funds in the second quarter.
Fiber Optical Cable Market to Reach $36.78 Billion by 2035
The global fiber optical cable market is projected to grow from $16.34 billion in 2025 to $36.78 billion by 2035, according to a new report from ResearchAndMarkets.com. The market, which grew at a compound annual growth rate of 10% since 2020, is expected to expand at a CAGR of 9.1% from 2025 to 2030, reaching $25.21 billion, and then at a CAGR of 7.8% through 2035. Growth is driven by 5G deployment, data center expansion, and broadband initiatives, though challenges include supply chain disruptions and trade tariffs. In 2025, glass optical fiber dominated with 88.9% of the market, single-mode cable led with 62.5%, and telecommunications applications accounted for 55.7%. Asia-Pacific was the largest regional market at $6.81 billion, with a 41.7% share, and is also forecast to be the fastest-growing region through 2030. The report profiles major players including Corning, Prysmian, and Sumitomo Electric Industries.
Thaweesuk says US bond yields above 6% could trigger global stock plunge
Thaweesuk Thammasak, an independent scholar of international economics, said at a Thun Hoon seminar that US sanctions on Iran have almost no effect because Iran has been sanctioned for 37 years and has already adapted. Iran has destroyed more than 80% of the main US bases in the Middle East and shot down more than 50 US refueling aircraft in Saudi Arabia, forcing the US to retreat to Jordan and making it unable to fly to Iran. The only remaining option is nuclear, but that is checked by Russia, China, and North Korea. Meanwhile, the Strait of Hormuz and the Red Sea have been closed, causing a global oil shortage and oil prices will surge this October, with the US Strategic Petroleum Reserve having only 14 days of supply left. Thaweesuk estimates that Iran is attacking the heart of the US by pushing bond yields higher, until the US has to intervene by increasing the auction size for buying its own bonds, with BlackRock helping manage the secondary market amid foreign selling of long-term bonds. If bond yields break above 6%, it will lead to a global stock market plunge and the Fed will have to cut rates to 0% immediately, which is an opportunity to buy cheap long-term bonds and sell for profit when prices rebound. For the Thai economy, Thaweesuk sees GDP slowing and staying sluggish because the government lacks a structural reform plan, with 2028 possibly as bad as 2027, and attracting data centers does not help spread income to the grassroots. He recommends watching stocks in the photonics supply chain such as Corning, Coherent, and Fibernet, along with trends in space technology and quantum computing where China is the leader.
Applied Optoelectronics Sinks 12% on $600M Equity Offering
Applied Optoelectronics stock fell 12% to $109.94 early Monday after the company disclosed a plan to raise $600 million through an at-the-market equity offering. The dilution scare dragged peers Lumentum Holdings and Coherent down 5% each, while Corning slipped 3% and the iShares Semiconductor ETF dropped 2%, confirming the selling stayed concentrated inside the optical transceiver corner of tech. Applied Optoelectronics had been up 258% year to date through Friday's close, and the new shelf is meaningful but not existential for a company with a roughly $10.55 billion market cap. Both Lumentum and Coherent recently beat earnings with upbeat outlooks, and Applied Optoelectronics itself posted record Q2 2026 revenue of $191.92 million, up 86.4% year over year, so today's move is a capital-structure event rather than a fundamental reset.
Corning Secures Multi-Billion-Dollar AI Fiber Deals With Meta and Zayo
Corning has secured multi-year, multi-billion-dollar supply agreements with Meta and Zayo for advanced optical fiber solutions tied to AI data center and network buildouts in the US. The Meta deal focuses on high-capacity optical connectivity for next-generation AI data center infrastructure, while the Zayo agreement centers on supplying optical fiber for large scale US network deployments that support AI driven traffic. These contracts signal a new phase for Corning as a key supplier for critical AI infrastructure beyond its traditional glass business. Corning's Springboard plan aims to add more than $4 billion in annualized sales by 2026, driven by strong demand in Optical Communications and Solar sectors.
AI Reshapes Glass Fiber Manufacturing with $6 Billion Corning-Meta Deal
Artificial intelligence is transforming glass fiber manufacturing, highlighted by a multiyear agreement between Corning and Meta valued at up to $6 billion to accelerate U.S. AI data center infrastructure. The deal, announced in March 2026, supports advanced glass solutions for high-speed connectivity and underscores glass fiber's strategic role in the AI computing ecosystem. North America and Asia-Pacific are leading AI adoption, with Owens Corning transitioning to a reliability-as-a-service framework and Saint-Gobain applying generative AI and digital twins to optimize production. Recent funding includes Rescale's $115 million from Applied Materials and NVIDIA, Lumotive's $45 million Series B, and Machina Labs' $32 million raise.
Electronic Components Stocks Post Exceptional Q2 Earnings
Electronic components stocks delivered an exceptional second quarter, with the eight companies tracked by this analysis beating revenue consensus estimates by 3.3% and guiding next quarter's revenue 6.9% above expectations. Littelfuse reported revenues of $738.8 million, up 20.4% year on year and 5.4% above estimates, while Allient posted $153.8 million, up 10.2% and 5.5% above estimates. nLIGHT was the weakest performer, with revenues of $82.59 million up 33.8% year on year but next quarter's EBITDA guidance missing significantly, sending its stock down 28.1%. Corning reported $4.74 billion in revenues, up 17.1% and 2% above estimates, but had the weakest guidance update among peers. Bel Fuse reported $210.7 million, up 25.2% and 1.6% above estimates, with strong EPS and revenue guidance beats. Share prices for the group have risen 15.1% on average since the latest earnings results.
Corning CEO Says Tariff Immunity Stems From 90% Domestic Revenue
Corning CEO Wendell Weeks said tariffs have a de minimis impact on the company because 90% of its U.S. revenue comes from U.S.-origin products and only 1% of U.S. sales are made in China. Speaking on Jim Cramer's Mad Money on August 14, 2026, Weeks attributed this insulation to Corning's philosophy of locating factories close to customers to compete on innovation. The company's stock has surged 93% year to date, supported by second-quarter core EPS of $0.78 beating consensus and a 32% rise in Optical Communications revenue. Corning supplies Apple, Nvidia, and Amazon from U.S. facilities, a footprint built for customer proximity that also shields it from import duties.
AI infrastructure stocks edge higher after Anthropic's Q2 revenue surge
AI infrastructure stocks edged higher in pre-market trading on Monday after Anthropic's second quarter revenue surged to $11.5B, nearly two-and-a-half times the first quarter's $4.7B figure. The Dario Amodei-led firm also recorded positive adjusted operating income for the first time. Memory and storage companies rose, with Micron Technology up 3%, Seagate Technology up 2.5%, Sandisk up 3.5%, Western Digital up 2.6%, and Nasdaq newcomer SK Hynix up 3%. Networking stocks were mostly higher, with Lumentum Holdings, Ciena, and Corning all up 1.5%, while Applied Optoelectronics and Coherent both increased 1.7%. Chipmakers were modestly higher, with Intel and Nvidia both up about 0.7%, after Nvidia slashed its financial backing for a massive OpenAI data center project in Ohio from $250B to less than $120B. The largest hyperscalers were mixed, with Oracle down 1.1%, Microsoft down 0.7%, Google up 0.2%, and Amazon up 1.4%.
EnerSys, Sabre, HighPeak Energy rise on strong results
Several companies made notable moves this week on earnings and outlook news. EnerSys rose 5.7% on Thursday after reporting first-quarter fiscal 2027 results with strong earnings growth and guidance above Wall Street expectations. Sabre gained 6.3% on Thursday after posting strong second-quarter 2026 results, raising its full-year profitability outlook, and revealing new client wins. Corning fell 2.7% on Monday after reports that key customer Apple scrapped its planned all-glass 20th-anniversary iPhone model, raising concerns about future demand for specialty glass. HighPeak Energy rose 5.4% on Tuesday after reporting second-quarter 2026 results that surpassed Wall Street expectations, driven by surging crude oil prices and disciplined capital expenditures.
Nvidia Commits Billions to Photonics and Data Center Infrastructure
Nvidia is deploying its surging free cash flow into strategic investments, committing at least $6.5 billion to photonics companies including $2 billion each for Lumintum (LITE), Coherent Corporation (COHR), and Marvell Technology (MRVL), plus $500 million for Corning (GLW). The chipmaker also reportedly plans to invest up to $3 billion in privately held Lancium, an energy and data center infrastructure company backed by Blackstone, taking an initial 20% stake for $2 billion with a potential additional $1 billion tied to performance targets. Lancium owns the 1.2-gigawatt Lancium Clean Campus in Abilene, Texas, site of the $500 billion Stargate project. Nvidia's free cash flow has grown from $3.8 billion in fiscal 2023 to $96.67 billion in fiscal 2026, and the company is working with Blackstone, BlackRock, Apollo, Brookfield, Goldman Sachs, and KKR to mobilize over $500 billion in third-party capital for AI infrastructure.
Lumentum Rockets 15% on Blowout Earnings, Coherent Climbs 9%, Corning Gains 5% on Optics Earnings and CoreWeave, Super Micro Read-Through
Lumentum shares surged 15% to $942 in midday trading Wednesday after the optical components maker reported fiscal Q4 2026 revenue of $1.01 billion, more than doubling year over year and topping the $988.6 million consensus, with non-GAAP EPS of $3.23 versus the $2.99 consensus and non-GAAP gross margin of 50.4%. The company guided fiscal Q1 2027 revenue of $1.225 billion to $1.275 billion and EPS of $4.05 to $4.35, with CEO Michael Hurlston saying it will hit its $1.25 billion quarterly revenue target more than a quarter early, pump-laser shipments up more than 80% year over year and effectively sold out, and the 1.6T transceiver ramp accelerating. The rally spilled across the AI optics complex, with Coherent up 9% to $358, Corning up 5% to $167, Applied Optoelectronics up 3% to $139, Ciena up 13%, and the iShares Semiconductor ETF trading at $551, while Super Micro Computer jumped 16%, CoreWeave soared 20%, and Nebius Group surged 27% on AI infrastructure prints that reinforced hyperscaler capex momentum. JPMorgan raised its Lumentum price target to $1,280 from $1,165 with an Overweight rating, Mizuho lifted its target to $1,140 from $1,100 with an Outperform rating, and Morgan Stanley raised its target to $1,000 from $900 with an Equal Weight rating, while Bank of America cut its target to $1,000 from $1,100 with a Neutral rating even after raising CY2027 and CY2028 EPS estimates by 19% each, reflecting a de-rating across shortage-area names.
Corning Stock Falls on Apple All-Glass iPhone Cancellation
Shares of Corning fell 2.7% in afternoon trading after reports that key customer Apple scrapped its planned all-glass 20th-anniversary iPhone model, raising concerns about future demand for the company's specialty glass. The news originated from a Jefferies report which downgraded Apple after supply-chain checks revealed the cancellation, citing poor production yields as the reason. The high-profile phone had been scheduled for a September 2027 launch. Corning is up 74.7% since the beginning of the year, but at $158.68 per share, it is still trading 37.9% below its 52-week high of $255.69 from June 2026.
NVIDIA shifts $500 billion AI factory financing risk to private capital consortium
NVIDIA has structured a deal with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to mobilize over $500 billion in third-party capital for AI factory construction, offloading lending risk from its own balance sheet. BofA analyst Vivek Arya notes the burden sits with the consortium, not NVIDIA, freeing up an estimated 15% of projected free cash flow for stock buybacks. Neocloud operators CoreWeave and Nebius saw immediate share gains as the arrangement eases their financing constraints. The private capital firms gain a scalable, high-yield tech credit platform, while memory and optical component suppliers may benefit if data center builds accelerate. Analysts caution that memorandums of understanding do not equal deployed capital and that demand pull-forward and physical constraints remain risks.
Corning shares jump 7.6% after strong Q2 results and AI-focused guidance
Corning Incorporated shares rose 7.6% after the company reported second-quarter 2026 sales of US$4,505 million and improved earnings per share compared with a year earlier, while also completing a multi-year share repurchase program totaling 48,600,078 shares for about US$2.03 billion. The company issued third-quarter guidance calling for approximately 16% year-over-year growth in core sales and about 28% growth in core earnings per share to a range of US$0.85 to US$0.89, reinforcing investor focus on its role in supplying materials for data centers and AI-related demand. The results and outlook strengthen the near-term growth narrative tied to data-center and AI demand, though longer-term risks around tariffs and competition remain.
Mark Cuban Warns Nvidia's AI Financing Could Crumble the Market
Billionaire Mark Cuban warned that Nvidia's aggressive AI financing could destabilize the broader market. Cuban compared Nvidia's role to the IPO machine of the dot-com era, noting that the company is funding customers through financing, revenue-sharing, and minimum-revenue guarantees. Nvidia has already committed more than $40 billion to AI investments in early 2026, including stakes and financing packages tied to OpenAI, Corning, and Iren. Legal analysts caution that AI data center funding involves layered private credit, securitizations, and off-balance-sheet vehicles, where distress in one node could propagate across banks, insurers, and pension funds. If AI demand slows or customers struggle to repay debts, the interconnected leverage could spread credit stress beyond tech stocks.
White House says US manufacturing is roaring back as GM and Ford pour billions into factories
The White House declared an automotive renaissance is underway, pointing to billions of dollars in new investments by major automakers and other companies in Michigan. General Motors has invested more than $6 billion in U.S. manufacturing since 2025, including $830 million to strengthen three propulsion facilities. Ford committed $3 billion to BlueOval Battery Park Michigan, supporting 1,700 jobs, and roughly $2 billion to overhaul its Louisville Assembly Plant in Kentucky, with the combined projects creating or securing nearly 4,000 jobs. Stellantis is directing hundreds of millions of dollars toward Michigan, including a $388 million megahub in Van Buren Township, a $140 million expansion in Detroit, and $100 million to add production in Warren. The White House also highlighted investments beyond the Detroit Three, such as a planned hyperscale data center campus worth more than $7 billion involving OpenAI, Oracle, and Related Digital, as well as a $1.5 billion investment by Corning adding over 400 advanced manufacturing jobs.
Coherent shares slide on reports of new US data center export curbs to China
Coherent shares fell as reports emerged that the United States is considering new restrictions on certain data center components supplied to China. The potential rules target technology exports involving high performance computing and advanced data infrastructure, and the stock reaction reflects investor concern over possible demand risks. Coherent, which sits at the intersection of optics and semiconductors, has meaningful revenue exposure to Chinese data center build outs, and tighter export controls could limit which products it can ship, slow order approvals, or restrict which customers in China are allowed to buy. The policy conversation remains fluid, and investors are watching for management commentary, customer ordering patterns, and final rule details, while peers such as Lumentum, Marvell, and Corning also saw share price moves as markets repriced regulatory risk across the optical and chip supply chain.
BofA Sees 66% Upside for Corning After 25% Monthly Drop
Corning shares have fallen 25.48% over the past month to $146.64 after soft third-quarter guidance overshadowed a second-quarter earnings beat, yet BofA Securities analyst Wamsi Mohan raised his price target to $243, implying roughly 66% upside. The selloff was driven by a revenue miss of 2.69% and conservative Q3 sales guidance of $4.9 billion to $5.0 billion, which triggered a valuation reset from a trailing price-to-earnings ratio of 64. Mohan's bull case applies a 37 times multiple to a calendar 2028 earnings-per-share estimate of $6.50, up from $5.95, and rests on AI optical interconnect demand, the upgraded Springboard plan targeting $40 billion in annualized sales by end of 2030, and optionality from glass substrates for advanced chiplets. While Corning dropped sharply, optical peers Ciena and Coherent saw far shallower declines of 7.5% and 13.56% respectively over the same period. The consensus analyst target among 16 covering analysts stands at $193.40, implying roughly 32% upside from current levels.
Corning Stock Still a Buy After 20% Earnings Sell-Off on AI Infrastructure Outlook
Corning shares fell as much as 20% intraday on July 28 after the company reported second-quarter results and issued third-quarter guidance that came in slightly below elevated consensus estimates. Core sales rose 17% year-over-year to $4.74 billion, while core EPS increased 30% to $0.78, and the Optical Communications segment grew 32% to $2.07 billion. Management guided third-quarter core sales to $4.9 billion to $5.0 billion, or 16% year-over-year growth, which disappointed investors despite the solid quarter. Analysts remain largely bullish, with 14 surveyed analysts rating the stock a Moderate Buy and an average price target of $195.93, implying 39.3% upside. The company continues to expand its AI infrastructure footprint through a multiyear partnership with Nvidia and a multibillion-dollar, multidecade deal with Amazon to boost U.S. fiber optic output.
Corning Secures Multibillion-Dollar AI Data Center Deals with Meta and Amazon
Corning Incorporated has signed a multiyear agreement worth up to $6 billion with Meta Platforms for its newest optical fiber, cable and connectivity solutions, and a separate multibillion-dollar, multiyear deal with Amazon for optical products supporting U.S. data-center expansion. The company also finalized two additional long-term hyperscaler agreements similar in size and duration to the Meta deal. Enterprise Networks sales rose 65% year over year to $1.27 billion in the second quarter, with GenAI product sales nearly doubling. Corning plans to expand U.S. optical-connectivity manufacturing capacity tenfold and increase domestic fiber production capacity by more than 50%, adding three new advanced manufacturing facilities in North Carolina and Texas and over 3,000 jobs. The company's Photonics Market-Access Platform is expected to build a $10 billion revenue stream by 2030, while its solar segment saw sales jump 90% year over year to $438 million but posted a $7 million net loss.
H&R Block, Sherwin-Williams, and Brown & Brown lead Tuesday's big stock movers
Several stocks made notable moves on Tuesday. H&R Block rose 6.2% after Stephens & Co. initiated coverage with an Equal-Weight rating and a $47 price target. Corning fell 13% after its second-quarter revenue and third-quarter sales forecast missed Wall Street expectations. Sherwin-Williams gained 7.5% on stronger-than-expected second-quarter earnings and a raised full-year profit forecast. Brown & Brown advanced 5% as investors focused on strong year-over-year growth and in-line earnings despite a slight revenue shortfall. Simpson added 2.8% after its second-quarter results exceeded analyst expectations.
Corning Shares Fall Over 20% After Guidance Miss Despite 32% Optical Growth
Corning shares dropped more than 20% on July 28 after its third-quarter guidance fell short of elevated expectations, even as second-quarter Optical Communications sales rose 32% to $2.07 billion. The company projected core sales of $4.9 billion to $5.0 billion for the third quarter, about 16% year-over-year growth but slightly below Wall Street's expectation, according to Reuters. Second-quarter core sales reached $4.74 billion, up 17%, with core earnings of $0.78 a share, up 30%. Coherent Corp., which supplies active optical components for AI data-center links, also traded sharply lower, though its own latest quarter showed 21% revenue growth to $1.81 billion and strong data-center demand. Corning had gained roughly 64% in 2026 through the prior close, leaving little room for even modest deceleration.
S&P 500 Futures Slip as Fed Rate Uncertainty Builds
S&P 500 futures edged lower in early Tuesday trading while Dow futures ticked up, as the US 10-year Treasury yield hovered near 4.64% ahead of this week's Federal Reserve decision. Markets are pricing in roughly a one-in-three chance of a rate hike now and about a 56% chance by September. US durable goods orders for June rose 0.3% and a core business investment gauge gained 0.9%, signaling continued corporate spending. Among individual movers, IQVIA Holdings jumped 13.94% after its second-quarter earnings and raised guidance, Incyte gained 9.30% on higher full-year sales guidance, and Sherwin-Williams climbed 8.25% following its quarterly results and buyback progress. On the downside, Sandisk fell 14.25%, Corning declined 12.10% after Citi lowered its price target, and Bloom Energy dropped 11.34%.
Corning Secures Multibillion-Dollar AI Fiber Deals with Nvidia and Amazon
O'Keeffe Stevens Advisory highlighted Corning Incorporated in its Q2 2026 investor letter, noting the company signed major AI-related supply agreements. Corning announced a multiyear partnership with Nvidia that includes a tenfold increase in U.S. optical connectivity manufacturing capacity and a more than 50% expansion in U.S. fiber production, supported by three new plants in North Carolina and Texas. Nvidia paid $500 million for rights to Corning shares, including warrants on up to 15 million shares at a $180 exercise price, potentially bringing its total equity investment to $3.2 billion. In June, Amazon signed a multibillion-dollar, multiyear deal for Corning to supply optical fiber, cable, and connectivity for its expanding U.S. data centers, following a supply agreement of up to $6 billion that Meta signed in January. The advisory firm trimmed its Corning position after the stock appreciated over 20% in the quarter, while noting that the shift from copper to fiber in data centers could make Corning's fiber a future bottleneck.
Corning Inc. reported a second-quarter profit of $559 million, or $0.64 per share, up from $469 million, or $0.54 per share, in the same period last year. Excluding items, adjusted earnings were $680 million, or $0.78 per share. Revenue rose 16.6% to $4.505 billion from $3.862 billion a year ago. The company issued guidance for the next quarter, expecting earnings per share between $0.85 and $0.89 on revenue of $4.9 billion to $5.0 billion.
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