Corning

Corning’s (GLW) shares dipped 2.5% after a strong year, seen as profit-taking by analysts. CNBC reiterated its buy rating and raised the price target to $95, citing compelling growth prospects. Q3 core revenue rose 14% to $4.27B, and EPS increased 24% to $0.67, both exceeding estimates. Growth is fueled by data center demand (driven by AI), an expanded Apple partnership, and the Springboard initiative. Corning is strategically positioned in the solar energy market and anticipates strong Q4 sales. The company is also adapting to AI-driven demands.

While Chinese brands promote homegrown screen technologies, Corning’s Gorilla Glass remains a key player, with innovations like Gorilla Glass Ceramic and continued collaboration with Apple on Ceramic Shield. Corning’s success extends far beyond smartphone screens. Their core business lies in Optical Communications (32% of sales), particularly optical fiber, fueled by the AI boom. While Specialty Materials (including Gorilla Glass) constitutes 14% of sales, Corning’s diversified operations, including Display Technologies, ensure overall growth and market leadership. The focus shift by phone manufacturers is part of a wider business picture.