Back to top

Image: Bigstock

GLW's Diverse Portfolio Fuels Customer Growth: Will it Drive Revenues?

Read MoreHide Full Article

Key Takeaways

  • Corning is gaining traction across electronics, telecom, semiconductors and solar markets.
  • Corning is expanding its Kentucky plant to supply Apple with advanced cover glass for devices.
  • GLW shares climbed 81.3% in a year, with 2025 EPS estimates up 5.11% to $2.47 per share.

Corning Incorporated (GLW - Free Report) is benefiting from strong customer growth across multiple end markets. The company’s client base includes prominent industry leaders such as Apple, Samsung, Broadcom, Lumen, AT&T Inc. (T - Free Report) and several others.

Corning is witnessing healthy traction in the consumer electronics segment. Apple, Inc. (AAPL - Free Report) is set to invest $2.5 billion to develop all of iPhone and Apple Watch’s cover glass in Corning’s Kentucky manufacturing facilities. The investment is part of Apple’s broader strategy, a $600 billion multiyear investment plan in the United States. GLW is steadily expanding its Kentucky facility to create the most advanced glass production line and match Apple’s requirements. Apple’s competitor and another major smartphone manufacturer, Samsung, has also deployed Corning’s most advanced Gorilla Glass across its flagship smartphones. The company’s comprehensive client base also includes prominent players like OnePlus, Google, Xiaomi and others.

Major telecom company Lumen has accelerated the deployment of its network infrastructure in the United States. The company is leveraging Corning’s next-generation fiber optic cable in the venture. AT&T is also utilizing Corning’s next-generation fiber, cable and connectivity solutions to support its fiber network expansion across the United States. Corning has also entered into a multi-year collaboration with semiconductor giant Broadcom, Inc. (AVGO - Free Report) . Broadcom is set to integrate GLW’s optical components for Broadcom’s Bailly CPO system. This will allow Broadcom to match the fast-growing connectivity and power efficiency requirements of large-scale AI Clusters.

Its U.S.-made solar products are also gaining solid market traction. T1 Energy Inc. recently opted to deploy Corning’s solar components to boost the reliability of its solar supply chain with U.S.-made solar components.

Corning has a strong manufacturing footprint in the United States and it has been steadily expanding its U.S. manufacturing capacity. The company is now reaping the benefits of this strategy. Amid growing geopolitical volatility and trade uncertainties several companies are looking to source domestically produced components to reduce supply chain uncertainty.

Other Tech Companies Benefiting From a Diverse Portfolio

Jabil, Inc.’s (JBL - Free Report) focus on end-market and product diversification is a key catalyst. The company’s target that “no product or product family should be greater than 5% operating income or cash flows in any fiscal year” is commendable. Despite weakness in the network, electric vehicle and renewable energy end markets, Jabil is benefiting from strength in AI data center infrastructure, capital equipment and warehouse automation markets. Such diversifications increase reliability of Jabil’s earnings and revenues, thereby driving returns for investors in the long haul.

International Business Machines Corporation (IBM - Free Report) also boasts a comprehensive portfolio. Its leading-edge innovations, hybrid cloud and AI solutions are utilized by clients across 175 countries in the world. IBM has a strong presence across multiple industries, including financial services, telecommunications, healthcare, retail and more. IBM’s Consulting business is benefiting from growing digital transformation initiative. Higher demand for hybrid and distributed infrastructure is driving growth in the infrastructure segment. Growth in Software, Consulting and Infrastructure is offsetting weakness in the Financing segment.

GLW’s Price Performance, Valuation & Estimates

Corning shares have surged 81.3% over the past year compared with the industry’s growth of 84.2%.

Zacks Investment Research
Image Source: Zacks Investment Research

Going by the price/earnings ratio, the company's shares currently trade at 29.46 forward earnings, lower than 33.18 for the industry.

Zacks Investment Research
Image Source: Zacks Investment Research

Earnings estimates for 2025 have increased 5.11% year over Year to $2.47 per share over the past 60 days, while the same for 2026 have moved up 5.88% to $2.88.

Zacks Investment Research
Image Source: Zacks Investment Research

Corning currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Published in