Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 29 Jun, 26 | GLW | Buy | USD 250.75 | USD 264.0 | USD 290.0 | 2 days | Closed |
14.66%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Corning Incorporated operates in optical communications, display, specialty materials, automotive, and life sciences businesses in the United States, Canada, Mexico, Japan, Taiwan, China, South Korea, Germany, and internationally. The company provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. It also offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. In addition, it manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for markets, such as mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Further, the company provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications, as well as technical glass and optic products and solutions for the interior and exterior of vehicles. Additionally, it offers laboratory products, including plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Falcon, PYREX, and Axygen brands. It also offers polysilicon products and pharmaceutical glass tubing and vials. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.
Improved Operating Cash Flow: Increase in Net Cash Provided by Operating Activities: Q1FY26 USD 362 Mn vs Q1FY25 USD 151 Mn
Higher Profitability: Increase in Net Income Attributable to Corning: Q1FY26 USD 371 Mn vs Q1FY25 USD 157 Mn
Higher Selling Expenses: Increase in Selling, General and Administrative Expenses: Q1FY26 USD 588 Mn vs Q1FY25 USD 471 Mn
Higher Cost of Sales: Increase in Cost of Sales: Q1FY26 USD 2.62 Bn vs Q1FY25 USD 2.24 Bn
Corning's growth outlook remains exposed to fluctuations in AI infrastructure spending, customer capital expenditure cycles, foreign exchange volatility, execution risks in scaling its solar manufacturing business, and broader geopolitical and global supply chain uncertainties
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 250.75 | 214.0 | 264.0 | 290.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Robust Revenue Growth Driven by Optical Communications: Corning Incorporated reported strong Q1FY26 performance, with net sales increasing 20.0% YoY to USD 4.14 billion from USD 3.45 billion. Growth was primarily supported by Optical Communications, where enterprise AI infrastructure, hyperscale data center demand, fiber-to-the-home deployments, and data center interconnect products significantly boosted sales and profitability across both Enterprise and Carrier Networks.
Springboard Strategy Continues to Enhance Profitability: The company's Springboard transformation continued to strengthen its financial profile during Q1FY26. Operating income increased 43.6% YoY to USD 639 million, while net income attributable to Corning surged 136.3% YoY to USD 371 million. Gross margin also expanded to 36.9% from 35.2%, reflecting improved operating leverage despite ongoing investments in solar manufacturing expansion.
Solar Business Expands Long-Term Growth Platform: Corning continued building its Solar business into a major growth platform, with Solar revenue increasing 79.6% YoY to USD 370 million. The company expanded domestic polysilicon, wafer, and module manufacturing capabilities, targeting a USD 2.5 billion revenue opportunity by 2028 while leveraging government incentives and increasing manufacturing capacity across the value chain.
AI Infrastructure and Customer Agreements Strengthen Visibility: The company strengthened long-term growth visibility through major customer agreements supporting AI infrastructure expansion. Following its multiyear agreement with Meta, Corning secured two additional long-term hyperscale customer contracts while expanding its relationship with Lumen, reinforcing sustained demand for enterprise networking, optical fiber, and data center connectivity solutions.
Healthy Cash Generation and Positive Business Outlook: Operating cash flow improved significantly to USD 362 million from USD 151 million in Q1FY25, supported by higher earnings. The company maintained a strong liquidity position with USD 1.76 billion in cash and reaffirmed confidence in continued growth by guiding Q2FY26 core sales of approximately USD 4.6 billion alongside continued execution of its upgraded Springboard strategy.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Corning Incorporated (NYSE: GLW) at the current market price of USD 250.75, as on 29 June,2026 at 9:50 am PDT.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Technology Industry: Electronic Components
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| GLW Corning Incorporated |
-1.51 0.98% | 153.10 | 89.92 | 53.19 | 9.09 | 12.03 | 9.59 | 40.14 |
| APH Amphenol Corporation |
-0.69 0.46% | 150.51 | 45.49 | 34.25 | 8.09 | 13.93 | 8.26 | 27.70 |
| CLS Celestica Inc. |
6.00 1.99% | 307.34 | 55.90 | 44.64 | 3.74 | 20.91 | 3.75 | 38.33 |
| HNHPF Hon Hai Precision Industry Co Ltd ADR |
0.11 0.75% | 14.81 | 10.86 | 8.47 | 0.0073 | 0.92 | 0.0057 | 0.11 |
| TEL TE Connectivity Ltd |
-0.17 0.08% | 203.14 | 23.48 | 18.83 | 2.68 | 3.73 | 2.85 | 14.55 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on June 29, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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