Corning Inc. (GLW) shares fell more than 4% on Tuesday, extending a sharp pullback as investors continued to sell artificial intelligence-related stocks despite analysts maintaining a positive long-term outlook on the glass and optical networking company. The stock dropped 5.4% to $184.33 and was on track for its fifth consecutive daily decline.
Corning's advanced glass and ceramic technologies are helping automakers build lighter, safer vehicles while supporting electric, connected and autonomous trends.
Corning stock has slumped alongside other AI infrastructure names, but analysts at Oppenheimer and Bank of America say demand for the company's optical networking business remains strong.
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GLW is riding AI-driven fiber demand, new hyperscaler deals and margin gains, but competition, China exposure and consumer electronics risks remain.
Corning's (NYSE:GLW | GLW Price Prediction) 13.6% single-day drop is being looked at as a crack in the AI fiber thesis by many.
Jim Cramer spent Monday night on Mad Money doing something television hosts rarely do on camera: calling himself an idiot.
Corning stock price continued its strong bull run, making it one of the best-performing companies on Wall Street. GLW jumped to a record high of $255.70, up by 190% this year, with its market capitalization rising to over $220 billion.
Corning (GLW) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
GLW's operating margin has climbed since its Springboard plan launch, powered by strong Optical Communications growth.
CEO Wendell Weeks remembers the dot-com crash and other hard times, and those lessons have taught him to hedge even the most optimistic data-center bets.