New York, February 25, 2026, 11:36 AM EST — Regular session
Shares of Corning Incorporated (GLW) surged over 5% Wednesday, reaching a new high and pushing the company further into the market’s AI infrastructure spotlight. The stock rose 5.3% to $159.57, with an intraday peak at $160.76. (markets.businessinsider.com)
This shift is catching attention: Corning is no longer seen as just a glass maker on Wall Street. Investors are lumping it in with other essential data-center suppliers—think picks-and-shovels for server wiring. With fiber networks back in the spotlight as a bottleneck, names tied to speeding up AI-driven data-center racks are commanding a premium.
The move has analysts circling the name again, with a packed March coming up for the optical supply chain. “Optical” in this context just means moving data as light via fiber, not as electricity over copper—quicker across distances, and it handles heavy data loads with less noise.
Citi bumped its price target on Corning up to $170 from $120, adding the stock to its “upside 30-day catalyst watch” list just ahead of the Optical Fiber Communication conference. The firm flagged both Corning and Lumentum as “pillars” within the AI optical networking space, and said it’s looking for favorable headlines from the event. (TipRanks)
Morgan Stanley bumped its price target up to $127 from $103 but left its Equal Weight rating unchanged. The firm’s analysts see the optical market expanding to more than $65 billion by 2028—up from around $30 billion in 2025. With newer optical tech in the mix, the industry could even reach $90 billion, according to the firm. (TipRanks)
Mizuho bumped its target price to $145, up from $120, sticking with an Outperform rating after tweaking models in the chemicals sector post-earnings. (TipRanks)
Corning is leaning into the AI story with its latest guidance. “We enter 2026 with exciting momentum,” Chief Financial Officer Ed Schlesinger said back in January. The company then projected first-quarter core sales between $4.2 billion and $4.3 billion, and core EPS in the $0.66 to $0.70 range. (Corning Investor Relations)
One key factor: its lucrative supply arrangement with Meta Platforms, valued at as much as $6 billion through 2030. The deal covers fiber-optic cables and related goods for AI data centers. “Together with Meta, we’re strengthening domestic supply chains,” CEO Wendell Weeks said when the agreement became public. (Reuters)
The next quarterly dividend—$0.28 per share—will go ex-dividend on Feb. 26, with shareholders on record as of Feb. 27 set to receive payment on March 30, the company’s investor site shows. Anyone buying from Feb. 26 forward won’t get the payout. (Corning Investor Relations)
The rapid climb has left no cushion for missteps. Just this week, some newly bumped-up price targets are already lagging behind where shares finished Wednesday. And if there’s even a whiff of trouble—say, weaker data-center demand or chatter about pricing—the stock, which has been swinging sharply on a daily basis, could take a hit.
Up ahead: the Optical Fiber Communication conference hits Los Angeles from March 15-19. Traders want real signals this time—think concrete order flow, capacity details, fresh product bookings—not just another AI headline. (ofcconference.org)
