On July 30, Corning rose 3.09% in regular trading, trading at $130.125/share with turnover of $23.97 billion, staging a technical rebound following a cumulative decline of over 20% across the prior two trading sessions.

On the news front, multiple investment banks issued notes calling the selloff overdone while maintaining bullish stances. UBS kept its buy rating but trimmed its price target to $196 from $228, noting that Corning's optical margins and long-term earnings visibility remain stronger than the market credits, and that the de-rating has made valuation more attractive. Oppenheimer lowered its target to $200 from $230, highlighting Q3 guidance above estimates supported by AI data-center optical demand, with enterprise-network sales expected to grow 65% as generative-AI revenue doubled in Q2. Both firms emphasized that the long-term AI fiber demand thesis remains intact. Corning's Q2 core sales rose 17% to $4.74 billion, beating consensus, while the optical segment posted a record 21% net margin.

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