During the twelve months ended February 2026, Corning (GLW)'s stock price increased by 115%, driven by strong earnings beats, a significant AI data partnership, and strategic enhancements—even amid a notable decline in the P/E multiple. Let's delve into the influential factors behind this impressive rise.
SUMMARY: The rapid expansion of artificial intelligence is driving an enormous build-out of data centers, with total investment expected to reach unprecedented levels.
Corning supplies fiber-optic cables for data centers, which transmit information far more efficiently than copper cables. The company believes the market for data center optical fiber could triple from here as demand from AI developers soars.
Corning on Wednesday forecast first-quarter sales above estimates, boosted by resilient demand for its fiber‑optic products, which generate nearly 40% of the company's revenue.
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