Corning (GLW) shares surged 5.49% in pre-market trading on Friday, extending a sharp rebound after a cumulative decline of over 20% in the prior two sessions.

The recovery was fueled by multiple institutions, including UBS and Oppenheimer, who maintained buy ratings on the stock, arguing that the selloff was overdone. Both firms emphasized that the long-term growth thesis built on AI data center fiber optic demand remains intact. UBS noted that Corning's strategy of locking in long-term offtake contracts provides greater earnings stability, while Oppenheimer highlighted that Q2 enterprise-network sales jumped 65% and generative-AI-related revenue doubled, with the optical segment posting a record 21% net margin.

The original selloff was triggered by Q3 core sales guidance slightly below consensus, sparking aggressive profit-taking after the stock nearly doubled year-to-date. As panic selling subsides and the market reassesses fundamental value, institutional support is driving the continued recovery.