New York, Jan 29, 2026, 12:37 p.m. EST — Regular session underway.
- Corning shares slipped roughly 2% to $102.18 in midday trading, following a rollercoaster two sessions.
- Meta’s fiber-optic supply deal, potentially worth up to $6 billion, and Corning’s quarterly outlook are sharpening the spotlight on AI data-center demand
- Investors are tracking the pace of new orders closely — and tuning in to what management reveals at upcoming conferences
Corning shares slipped 2% to $102.18 by midday Thursday, following an earlier range of $99.55 to $107.10.
The stock has been swinging sharply as investors grapple with valuing Corning’s newly emphasized AI-data-center angle, and weigh if this week’s rally ran too far too fast.
Fiber-optic products account for almost 40% of Corning’s revenue. The company’s first-quarter “core” sales forecast comes in with a midpoint above analysts’ $4.23 billion estimate, according to LSEG data. “The slight sell-off is probably just a tempering of the excitement,” said William Kerwin, a senior equity analyst at Morningstar. 1
The buzz kicked off Tuesday after Corning and Meta Platforms revealed a multiyear deal valued at up to $6 billion for optical fiber, cable, and connectivity products. Corning plans to boost production in North Carolina, naming Meta as the key customer at its Hickory cable plant. “Together with Meta, we’re strengthening domestic supply chains,” said Corning CEO Wendell Weeks. Meta’s Joel Kaplan added the firm needs “world-class partners” to support its advanced U.S. data center projects. 2
Shares surged to a 52-week peak of $113.99 on Tuesday after the announcement, only to slip 5% and close at $104.28 on Wednesday, according to MarketWatch data. Volume spiked to 18.4 million shares, significantly above Corning’s 50-day average, the figures showed. 3
Corning’s latest filing on Wednesday revealed fourth-quarter core sales hitting $4.41 billion, a 14% jump from last year, while core earnings rose 26% to 72 cents a share. The company projects first-quarter core sales between $4.2 billion and $4.3 billion, with core EPS expected to range from 66 to 70 cents. “Core” here excludes items like mark-to-market adjustments and certain currency impacts. Additionally, Corning boosted its “Springboard” growth plan, aiming to add $11 billion in incremental annualized sales by the end of 2028. 4
The optics segment is shouldering most of the growth. Other divisions are lagging behind, but they aren’t disappearing despite the buzz around AI cables.
Traders are zeroing in on granular details: the timing of Meta’s volume increase, the scale of new capacity Corning plans to add, and if margins will stay steady as production ramps up.
The Meta deal could reach “up to” $6 billion, but that’s not cash changing hands right now. The timeline hinges on how quickly data centers get built. If there’s a hiccup in execution or a slowdown in big-tech spending, Corning could be left vulnerable after this week’s rapid, steep moves.
Corning said its executives will present at the Susquehanna Fifteenth Annual Technology Conference on Feb. 27, followed by the Morgan Stanley Technology, Media & Telecom Conference on March 3. Investors are looking to these events for updates on orders, capacity, and pricing. 5
