Corning's stock plummeted 5.00% during intraday trading on Wednesday, reversing gains from the previous session. The sharp decline followed the company's fourth-quarter earnings release earlier in the day.

The move was primarily driven by a revenue shortfall for the latest quarter. Corning posted Q4 revenue of $4.22 billion, which fell below the FactSet consensus estimate of $4.36 billion. This miss overshadowed other positive aspects of the report, including a beat on core earnings per share.

Analysts noted that the sell-off likely represents a tempering of excitement after the stock surged 16% on Tuesday following Corning's announcement of a significant up-to-$6 billion deal to supply fiber-optic cables to Meta Platforms for its AI data centers. The revenue disappointment triggered profit-taking as traders assessed that the positive earnings news was already priced in after the previous day's rally.