“Business is Booming for Corning. Time to Buy?”
GLW is a hold; valuation is mixed with DCF suggesting overvaluation despite reasonable forward PE.
Business is booming for Corning as demand for its optical connectivity solutions, particularly within enterprise networks, where generative AI product sales nearly doubled year over year.
Overall, the company reported $4.74 billion in sales in its most recently completed quarter, and that was up 17% from the same time last year. The management team sounded optimistic about their long-term prospects, announcing a spring board 2030-40 plan where they expect their sales targeting annualized 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.