On July 30, Corning rose 3.16% overnight, trading at $127.24/share, with turnover of $2.9549 million, extending a technical rebound following a cumulative decline of over 20% in the prior two trading sessions.

On the news front, UBS, Oppenheimer, and other major institutions have maintained buy ratings despite trimming their price targets, emphasizing that the prior selloff was overdone and that the long-term growth thesis driven by AI data center fiber optic demand remains intact. UBS cut its target to $196 from $228, while Oppenheimer lowered its target to $200 from $230, both arguing that the de-rating has made valuation more attractive relative to Corning's growth outlook. UBS noted that Corning's strategy of locking in long-term offtake contracts provides greater earnings stability, with its EPS estimates remaining above consensus.

The selloff was triggered after Corning's Q3 guidance midpoint of $4.95 billion came in slightly below the $5 billion market estimate, sparking massive profit-taking given the stock's near-100% year-to-date gain and elevated valuation of approximately 44x PE.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)