Corning (GLW) Stock Plunges 7% After Record Quarter – AI Boom vs. Fiber Headwinds
Corning reported Q3 core sales of $4.27B and EPS of $0.67, both above estimates, driven by a 58% jump in enterprise optical sales and 46% growth in solar materials. GLW stock fell 5–7% after hours Oct 28 despite the beat, as optical revenue missed estimates and China imposed a 37.9% tariff on U.S. fiber optics. Shares later rebounded near previous highs. Apple will invest $2.5B in Corning’s Kentucky plant for iPhone/Watch glass.