At a Needham investment conference on Monday, flat-panel display glassmaker Corning (NYSE:GLW) gave upbeat guidance on the FPD market and its impact on the company -- a point we predicted just last week:
GLW 1-yr chart:
Corning now predicts glass demand for LCD TVs next year will be as large as the entire TV glass market was in 2004.... Corning CFO Jim Flaws said with average screen sizes increasing and prices coming down, LCD glass shipments will grow about 41% a year.
As the supplier of more than half of the world's LCD glass sheets used to make flat panel computer monitors and TVs, Corning is often prone to play industry prognosticator. And though Corning has been dismally wrong in the past, most observers are willing to listen when the glass giant gets behind a podium. [via TheStreet.com]