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Can Corning's AT&T Deal Boost Its Optical Communications Growth?
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Key Takeaways
GLW secured a multi-year, $3 billion-plus AT&T deal to supply fiber and cable for U.S. broadband expansion.
Corning is expanding U.S. fiber and cable production, including a North Carolina facility that created jobs.
GLW also partners with Verizon as telecom investment in higher-capacity networks supports fiber demand.
Corning Incorporated (GLW - Free Report) has secured a multi-year agreement worth more than $3 billion with AT&T Inc. (T - Free Report) to expand high-speed broadband infrastructure in the United States. The deal strengthens Corning’s position in optical communications as rising data consumption and artificial intelligence (AI) adoption drive greater demand for advanced connectivity.
Under the agreement, Corning will provide the fiber and cable required for AT&T’s network expansion, supporting connectivity for residential customers, businesses and communities. Its fiber and connectivity solutions are expected to accelerate network deployment, improve installation efficiency and support the domestic connectivity supply chain.
Corning is also expanding its fiber and cable production in the United States, including a North Carolina facility that has created hundreds of jobs. These investments will increase the company’s manufacturing capacity and strengthen its ability to supply fiber solutions for next-generation network infrastructure.
Corning has also partnered with Verizon Communications Inc. (VZ - Free Report) to provide fiber and connectivity solutions for broadband expansion and AI-related infrastructure. As telecom companies continue to invest in higher-capacity networks, Corning is likely to benefit from sustained demand for optical fiber and related solutions, supporting its growth opportunities in the communications market.
How Are Competitors Focusing on Fiber?
Corning faces competition from Amphenol Corporation (APH - Free Report) and Lumen Technologies, Inc. (LUMN - Free Report) . Amphenol is strengthening its fiber-optic capabilities to meet growing demand from data centers and AI applications. The company is seeing strong demand for fiber-based connectivity as customers upgrade networks to support higher data speeds and capacity. Amphenol’s expanding portfolio of fiber-optic and interconnect products helps meet the growing need for reliable, high-speed data transmission.
Lumen is adding new fiber routes and network capacity as AI workloads drive greater data traffic across the United States. Its NorthLine project will connect Seattle and Minneapolis through a low-latency route designed to support high-capacity data movement between data centers and cloud networks. Lumen is expanding its network infrastructure to meet the growing connectivity needs of businesses, data centers and AI applications.
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Can Corning's AT&T Deal Boost Its Optical Communications Growth?
Key Takeaways
Corning Incorporated (GLW - Free Report) has secured a multi-year agreement worth more than $3 billion with AT&T Inc. (T - Free Report) to expand high-speed broadband infrastructure in the United States. The deal strengthens Corning’s position in optical communications as rising data consumption and artificial intelligence (AI) adoption drive greater demand for advanced connectivity.
Under the agreement, Corning will provide the fiber and cable required for AT&T’s network expansion, supporting connectivity for residential customers, businesses and communities. Its fiber and connectivity solutions are expected to accelerate network deployment, improve installation efficiency and support the domestic connectivity supply chain.
Corning is also expanding its fiber and cable production in the United States, including a North Carolina facility that has created hundreds of jobs. These investments will increase the company’s manufacturing capacity and strengthen its ability to supply fiber solutions for next-generation network infrastructure.
Corning has also partnered with Verizon Communications Inc. (VZ - Free Report) to provide fiber and connectivity solutions for broadband expansion and AI-related infrastructure. As telecom companies continue to invest in higher-capacity networks, Corning is likely to benefit from sustained demand for optical fiber and related solutions, supporting its growth opportunities in the communications market.
How Are Competitors Focusing on Fiber?
Corning faces competition from Amphenol Corporation (APH - Free Report) and Lumen Technologies, Inc. (LUMN - Free Report) . Amphenol is strengthening its fiber-optic capabilities to meet growing demand from data centers and AI applications. The company is seeing strong demand for fiber-based connectivity as customers upgrade networks to support higher data speeds and capacity. Amphenol’s expanding portfolio of fiber-optic and interconnect products helps meet the growing need for reliable, high-speed data transmission.
Lumen is adding new fiber routes and network capacity as AI workloads drive greater data traffic across the United States. Its NorthLine project will connect Seattle and Minneapolis through a low-latency route designed to support high-capacity data movement between data centers and cloud networks. Lumen is expanding its network infrastructure to meet the growing connectivity needs of businesses, data centers and AI applications.
Corning's Price Performance, Valuation & Estimates
Shares of Corning have rallied 85.0% over the past year compared with the industry’s growth of 130.4%.
Image Source: Zacks Investment Research
From a valuation standpoint, the company’s shares currently trade at 38.14 forward 12-month earnings, higher than the industry tally of 35.07.
Image Source: Zacks Investment Research
Corning’s earnings estimates for 2026 have increased 0.9% to $3.28 per share, while the same for 2027 have risen 0.7% to $4.28 over the past 60 days.
Image Source: Zacks Investment Research
Corning currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.