New York, Jan 28, 2026, 11:42 a.m. ET — Regular session
- Corning (GLW) shares slipped roughly 3% in late-morning trading, following a volatile start to the session
- The company projects first-quarter core sales between $4.2 billion and $4.3 billion, surpassing consensus estimates
- Attention shifts to how quickly AI data-center orders roll in and Corning’s expansion in North Carolina
Shares of Corning Incorporated (GLW) dropped 3.2%, hitting $106.18 by late morning on Wednesday. Earlier, the stock had fluctuated between $103.38 and $117.29 during the session.
Corning, the Gorilla Glass supplier to Apple, expects first-quarter core sales between $4.2 billion and $4.3 billion, beating analysts’ consensus of $4.23 billion, per LSEG data. Around 40% of its revenue comes from fiber-optic products, a segment benefiting as Big Tech ramps up AI-related data-center investments. The stock has surged roughly 26% year-to-date, following an 84% jump in 2025. (Reuters)
Just one day earlier, Corning and Meta Platforms revealed a multiyear deal valued at up to $6 billion. Corning will provide optical fiber, cable, and connectivity gear for Meta’s U.S. data centers. The company plans to ramp up manufacturing in North Carolina, spearheading a significant expansion in Hickory where Meta will serve as the main customer. Corning anticipates a 15% to 20% boost in employment at that site. “Building the most advanced data centers in the U.S. requires world-class partners,” said Meta Chief Global Affairs Officer Joel Kaplan. (Corning)
Corning reported a 14% rise in fourth-quarter core sales, an adjusted figure, reaching $4.41 billion. Core earnings per share jumped 26% to 72 cents, fueled by a 24% surge in Optical Communications net sales to $1.70 billion. The company projects first-quarter core sales between $4.2 billion and $4.3 billion, with core EPS in the 66 to 70 cents range. It also boosted its Springboard plan target to $11 billion in incremental annualized sales by the end of 2028. CEO Wendell P. Weeks described the results as a “highly profitable launch point,” while CFO Ed Schlesinger said 2026 kicks off with “exciting momentum.” (Corning Investor Relations)
“Core” results exclude certain items that can distort reported profit and revenue, such as some mark-to-market effects and currency-related adjustments. The company views this as its preferred yardstick. Note, it’s not a GAAP measure.
The bigger question for traders is whether Corning can maintain volumes and pricing firmly enough to support the capacity expansion, particularly as it scales up for major clients. The optical unit has been carrying most of the weight; other end-markets remain unpredictable.
Corning’s shift keeps it alongside other AI-infrastructure players like Ciena and CommScope, both linked to data-center wiring and optical networks. Stocks in this group largely hinge on continued spending by hyperscalers.
The Meta contract tops out at $6 billion, and order flow might not be steady. Meanwhile, expanding in North Carolina demands both time and significant investment. If AI spending slows or capacity additions lag, Corning could find itself relying on softer end-markets—tightening the margin for error after a major rerating.
Investors want more precise timing on the Hickory buildout and how quickly optical demand is turning into actual shipments, beyond just announcements. The stock’s wide intraday swings show that positioning remains unsettled.
Focus turns to Meta and Microsoft’s earnings after Wednesday’s close, as their capital expenditure outlines will signal direction for vendors such as Corning. “Expectations are very high,” noted Anthony Saglimbene, chief market strategist at Ameriprise Financial. He added, “there is less room for them to disappoint.” (Reuters)
