Red-hot Corning shares slide on earnings. Why that's a gift to investors
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Corning reported core revenue of $4.35 bn for the quarter ending March 31, up 18% YoY and topping the $4.26 bn consensus estimate.
- Jim Cramer told investors to trim positions, calling Corning “overhyped” after its massive YTD rally.
- Corning signed two new long‑term supply agreements with unnamed hyperscalers, matching the size and duration of its $6 bn Meta deal through 2030.
- Wendell Weeks said the deals share risk and reward with customers, avoiding upfront capacity risk for Corning.
- LSEG data showed adjusted EPS of 70 cents, a penny ahead of expectations.
Why it matters: Long‑term investors gain a ~7% price dip after a 92% YTD rally, while Corning secures $6 bn of AI‑related revenue through 2030, reducing capacity‑risk exposure and supporting AI infrastructure growth.
Ask SkimNews
