New York, Jan 30, 2026, 21:20 EST — Market closed.
- Corning shares ended Friday slightly higher, rising 0.24% to $103.25 following a choppy week.
- Attention stayed on optical demand after Meta announced a $6 billion supply deal and raised its first-quarter sales forecast.
- New price-target increases pointed to longer-term gains but also warned of short-term capacity constraints.
Corning shares closed Friday 0.24% higher at $103.25, bouncing after a volatile week that saw the stock peak at $113.99 before drifting down toward the low $100s. (StockAnalysis)
U.S. markets are closed for the weekend, setting the stage for the next session to reveal if investors remain convinced by Corning’s push as an “AI infrastructure” provider or if they’ll continue pulling back after the initial surge sparked by deal-related buying.
Meta has committed up to $6 billion to Corning for fiber-optic cable and related connectivity gear aimed at AI data centers, with payments stretching through 2030, the companies confirmed. Corning plans to boost production at its Hickory, North Carolina plant, where Meta will serve as a key customer. The company also cited strong demand from Microsoft and Alphabet’s Google. Corning CEO Wendell Weeks described the deal as a move to reinforce supply chains domestically: “Together with Meta, we’re strengthening domestic supply chains,” he said. (Reuters)
Corning followed up with quarterly results and a first-quarter forecast sticking to the same narrative. It projected first-quarter “core” sales — its adjusted figure — between $4.2 billion and $4.3 billion, edging past analysts’ consensus of $4.23 billion from LSEG, driven by fiber-optic product demand that accounts for nearly 40% of its revenue. Despite that, shares dropped over 4% after the release. “The numbers were good this morning, but probably baked in after yesterday’s announcement,” said William Kerwin, a senior equity analyst at Morningstar. (Reuters)
Corning reported a 14% jump in fourth-quarter core sales to $4.41 billion, with core earnings hitting $0.72 per share. The company also raised its targets under the “Springboard” growth plan. CFO Ed Schlesinger highlighted the “exciting momentum” heading into 2026 and reiterated first-quarter core sales guidance of $4.2 billion to $4.3 billion. Corning confirmed it will participate in the Susquehanna Fifteenth Annual Technology Conference on Feb. 27, followed by the Morgan Stanley Technology, Media & Telecom Conference on March 3.
Broker notes came in fast. Morgan Stanley bumped its price target to $103 from $98 but held an Equal Weight rating, calling the results “largely as previewed” and noting that 2026 remains “largely constrained” as capacity expands, per The Fly. JPMorgan raised its price target to $115 from $100 and maintained an Overweight rating following the Meta deal. (TipRanks)
Traders head into Monday facing a clear divide: longer revenue visibility stretched over years, yet a sharper focus on timing — specifically when those new fiber orders will hit reported sales and how margins will hold up as Corning cranks up production.
The downside scenario is straightforward. If hyperscaler data-center spending slows down, or if Corning’s expansion drags on and runs over budget, the stock could remain volatile — particularly after a week that saw double-digit moves in just a few days.
The next obvious checkpoint will be management’s take on demand and capacity during their upcoming investor meetings. The Feb. 27 Susquehanna conference is the next scheduled event on the calendar.
