Quick Read – GLW dropped 13% in a day after a 193% YTD run, but Q1 Optical Communications revenue rose 36% with two new hyperscaler deals signed. – Insiders unloaded $54 million in shares over three months with zero purchases, while GLW trades at 81x forward earnings above its…
nsensus price target. – A clean Q2 revenue beat or pullback toward the $185 moving average triggers a Buy upgrade; a hyperscaler capex cut triggers a Sell. – Act 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’s (NYSE:GLW) 13.6% single-day drop is being looked at as a crack in the AI fiber thesis by many. The stock had gone parabolic, up 192.71% year-to-date heading into this session, so a shakeout was overdue. Corning makes the optical fiber, cable, and connectivity that stitch AI data centers together, which is why the stock has behaved less like a 175-year-old glass company and more like a hyperscaler derivative.
The Q1 report gave bulls everything they wanted. Optical Communications revenue of $1.846 billion, up 36% year over year, and management disclosing two additional hyperscaler agreements similar in size and duration to the up-to-$6 billion Meta deal. That is the setup for today’s air pocket.