What To Do After Corning Shares Rallied

Jul. 09, 2024 12:30 PM ETCorning Incorporated (GLW) StockGLW38 Comments
(6min)

Summary

  • Corning's stock price surged above $40 after raising its second-quarter sales forecast by $200 million, driven by demand for AI solutions.
  • Despite the stretched valuation, GLW stock scores a strong buy, with positive momentum and EPS revision.
  • Growth catalysts include GenAI, optical connectivity products, TV screen display size growth, and GPF filters in automotive, with potential risks in valuation and shifts in market demand.
  • DIY Value Investing members get exclusive access to our real-world portfolio. See all our investments here »

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For over three years, Corning (NYSE:GLW) traded in a trading range of around $30 to below $37. Up until yesterday, GLW stock failed to trade above $40. Sentiment abruptly turned positive when the company, which specializes in material sciences, raised its outlook. In the company’s “About Us” page, CEO

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This article was written by

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Chris Lau is an individual investor and economist with 30 years of experience covering life science, technology, and dividend-growth income stocks. He has degrees in Microbiology and Economics.

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