GLW
Corning Incorporated

Corning IncorporatedGLW

Technology · Electronic Components
106.13USD
+2.61%
Nov 08, 2026
GLW overview ready
Supplier of passive optical infrastructure for AI data-center networks
Supplier of passive optical infrastructure—optical fiber, high-density cable, connectors, fiber-management systems, and emerging fiber-to-chip connectivity—for AI data-center networks.
Primary theme is lagging
Optical / Photonics is lagging (-26.6pp vs SPY over 21 sessions; 1 of 12 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Exposure to capital expenditure cycles in telecom and data centers.
Market Nov 6Filing Sep 30Price action Nov 7Research Sep 20

Conviction Level

PriceAction1.4BusinessPerformance7.0BusinessQuality7.2Valuation1.1ThemeMomentum1.0Improving — Revenue is growing at a steady pace (+18% year over year). Diluted EPS is up 56% year over year at $0.78. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−26.6pp
Theme return
−31.6%
Beating SPY
1 of 12
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$91.4B
Avg Volume (60D)
9.4M
60 sessions
Revenue Growth YoY
+19.1%
FY2025 vs FY2024
Gross Margin
+36.5%
Trailing twelve months
Operating Margin
+16.5%
Trailing twelve months
Free Cash Flow Yield
+1.0%
Distance from 200DMA
-31.9%
Next Earnings
2027-01-26
P/E
42.5x
EV / Sales
5.5x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue is growing at a steady pace (+18% year over year). Diluted EPS is up 56% year over year at $0.78.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+18%
$4.86B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +20%
  2. +20%
  3. +17%
  4. +18%
Earnings growthGrowing
+56%
Diluted EPS $0.78 vs $0.50 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +72%
  2. +139%
  3. +19%
  4. +56%
Operating marginExpanding
18.8%
+4.4 pp YoY · gross margin 37.3% (+0.2 pp)

Business Quality

7.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Both valuation perspectives agree this company is expensive.
Corning Incorporated has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces.

Company Research

Thesis
Supplier of passive optical infrastructure—optical fiber, high-density cable, connectors, fiber-management systems, and emerging fiber-to-chip connectivity—for AI data-center networks. GLW is a substantive, direct physical-infrastructure beneficiary of AI-network buildouts rather than a generic AI adjacency.
Opportunity
High opportunity
AI-cluster scale-out, scale-across, and rising rack-density requirements are increasing demand for high-bandwidth optical connectivity across data halls, campuses, and inter-data-center links.
Key risk
Exposure to capital expenditure cycles in telecom and data centers.

Economic classification

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Business & Markets

Technology · Electronic Components
What they do

Corning Incorporated manufactures and supplies optical communications products, specialty glass materials, and related hardware globally, serving multiple industries including telecommunications, automotive, and life sciences.

How it earns

Primarily transactional sales of optical fibers, cables, glass substrates, and related components to industrial and commercial customers.

Products & services
Optical fibers and cables
Fiber optic hardware and connectors
Glass substrates for flat panel displays
Specialty materials for automotive and life sciences
Customers & end markets
Telecommunications companies
Data center operators
Display manufacturers
Automotive industry
Life sciences sector
Market position

Leader in passive optical infrastructure components for telecommunications and data-center networks.

Demand drivers
Medium cyclicality

Demand is influenced by capital spending cycles in telecommunications and technology infrastructure but supported by structural growth in data connectivity.

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