On July 17, Corning fell 6.36% in pre-market trading, trading at $149.76/share with turnover of $3.56 million, extending the prior session's over 9% decline.

On the news front, JPMorgan placed Corning on its Negative Catalyst Watch list ahead of the company's Q2 earnings report, citing excessive valuation rather than fundamental concerns. Analysts noted that Corning's forward PE ratio based on 2028 estimates already exceeds 30x, implying an approximately 40x multiple for its optical communications business, leaving virtually no room for error heading into earnings. JPMorgan maintained its Neutral rating and $200 price target. Despite the recent selloff, Corning's year-to-date gain remains near 100%, though the stock has now fallen approximately 38% from its all-time high set in late June. The company is scheduled to report Q2 results on July 28 pre-market, with consensus expecting adjusted EPS of $0.75 and revenue of $4.63 billion.

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