Corning Stock Soars: AI & Smartphone Glass Demand Crushes Earnings Expectations

Wall Street’s latest darling? A 173-year-old glassmaker. Corning just proved even legacy manufacturers can ride the AI wave—while quietly laughing all the way to the bank.

The AI Play Nobody Saw Coming

Turns out those pristine smartphone screens need specialty glass. Who knew? With AI-driven device upgrades accelerating, Corning’s Gorilla Glass division is printing money.

Beat the Street, Spook the Shorts

Analysts expected modest growth. They got a revenue grenade instead—another ‘unexpected’ win for a company that’s been outperforming since the rotary phone era.

The Cynical Take

Let’s be real: this is a tactical win, not a transformation. Corning’s still tethered to cyclical tech demand. But for today? Champagne corks are popping—until the next supply chain ‘adjustment.’

Key Takeaways

• Corning shares rallied after the specialized glassmaker reported earnings that exceeded Street expectations.
• In addition to smartphone and television screens, Corning makes fiber optic cabling solutions for AI data centers, which have seen a surge in demand.
• JPMorgan analysts said Corning could benefit from Apple launching a foldable iPhone, which the bank expects next year.

Shares of Corning (GLW), a specialized glassmaker for smartphones and AI data centers, popped Tuesday as the company’s second-quarter results exceeded expectations. 

Corning reported sales of $3.86 billion, up 19% year-over-year and above the analyst consensus from Visible Alpha. The surge was driven by optical communications sales, which rocketed 41% to $1.57 billion, comfortably ahead of Street estimates. The company’s adjusted earnings of 60 cents per share were a record high and beat expectations, as did its current-quarter sales and profit forecasts.

Shares of Corning jumped 13% in recent trading. The stock has increased in price by roughly a third in 2025, as the glassmaker has been a lesser-known beneficiary of the AI boom. In addition to smartphone and television screens, Corning makes fiber optic cabling solutions for data centers, which have seen a surge in demand as investment in AI has grown.

In the longer term, JPMorgan analysts say Corning has a unique upside opportunity: a foldable iPhone. The bank expects Apple (AAPL) to launch a foldable device as part of the iPhone 18 lineup in 2026. The increase in total glass area, as well as the complexity of the foldable model, could be a catalyst for Corning, JPMorgan said Tuesday. 

JPMorgan has an overweight rating for the company. Meanwhile, Citi reiterated a buy rating and $60 price target, which Corning has exceeded with its Tuesday rally. The consensus target of brokers tracked by Visible Alpha is roughly $58.