Corning Stock Posts Best Day In Two Decades After $6B Meta Deal

• Corning shares jumped nearly 16% on Tuesday and extended the gains in the after-market session, sending Stocktwits sentiment for the ticker higher.
• As part of the Meta deal, Corning will expand its North Carolina manufacturing facilities.
• Corning is scheduled to report its Q4 results on Wednesday.

Corning, Inc. shares surged 15.6% on Tuesday – their biggest one-day gain in more than two decades – and added 3.8% in after-hours trading following a major deal with Meta Platforms, Inc.

What’s The Corning-Meta Deal?

Corning, better known for the Gorilla Glass on Apple devices, has signed a contract worth up to $6 billion to supply optical fiber, cable, and connectivity solutions for Meta’s new data centers.

To support this, Corning will expand manufacturing capabilities across its North Carolina operations, including a significant capacity increase at its optical cable manufacturing facility in Hickory, where Meta will serve as the anchor customer. The company would increase its North Carolina workforce by up to 20% to more than 5,000, it said in a statement.

Meta will pay up the contractual amount through 2030, Corning CEO Wendell Weeks told CNBC. Two of Meta’s largest data centers, currently under construction in New Albany, Ohio, and Richland Parish, Louisiana, will use Corning’s fiber-optic cables, CNBC reported.

Corning Momentum

“We view this as transformational validation that meaningfully de-risks GLW's growth outlook, providing exceptional revenue visibility in an accelerating segment,” CFRA Research said in an investor note.

Corning is among several companies benefiting from surging demand tied to the rapid buildout of new data centers. From chipmakers to memory and ancillary suppliers, firms are seeing strong demand as big tech expands cloud capacity to power AI development.

Corning has been a supplier to Apple since the launch of the first iPhone in 2007. The two sides deepened their partnership last August, with Apple agreeing to invest $2.5 billion to support the expansion of Corning’s Harrodsburg, Kentucky, plant.

Retail’s Reaction

On Stocktwits, retail sentiment for GLW shifted to ‘extremely bullish’ as of late Tuesday, from ‘bullish’ the previous day, with 24-hour message volume for the ticker rising by over 660%. Members posted accolades like “Crushing it,” and “beasting” to denote the stock gains and improving outlook.

Corning will report fourth-quarter results on Wednesday. Analysts expect revenue to rise by over 12% to $4.6 billion and adjusted profit to rise 24% to $0.71 per share, per Koyfin data.

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