Quick Read – Corning (GLW) fell 25% on soft Q3 guidance despite beating Q2 earnings, leaving a 32% gap to Wall Street’s $193 consensus target. – BofA’s Wamsi Mohan raised his GLW target to $243, implying 66% upside, while optical peers CIEN and COHR saw far shallower declines. -…
t now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Corning didn’t make the cut. Grab the names FREE today
Corning (NYSE:GLW) currently trades at $146.64, while the average Wall Street price target sits at $193.40. That leaves a consensus-implied upside of roughly 32%, and one major U.S. bank sees far more room than that. Corning is a 175-year-old materials science company that has become one of the most important suppliers to the AI infrastructure buildout.
Its Optical Communications business sells fiber and connectivity to hyperscalers standing up AI factories, including multiyear, multibillion-dollar agreements with Amazon and NVIDIA. Wall Street has been paying attention because that segment is now the growth engine, and the recent selloff has opened one of the widest gaps between price and analyst target the stock has seen in years. A Guidance-Driven Air Pocket After a Beat The core cause of the drop was a soft third-quarter sales outlook alongside otherwise strong Q2 numbers.