Corning stock has been riding high this year on artificial intelligence-driven optical networking demand, but as the AI trade has fallen apart in recent weeks, the stock has faltered. That hasn't stopped Wall Street from viewing the company as a good bet.

Corning stock declined 4% to $186.96 on Tuesday and was on track to close lower for a fifth consecutive trading session. Over its current four-day losing streak, shares have declined 24% and wiped out $52.4 billion in market value as chip stocks, along with other AI-related names, have taken a beating.

Still, the stock remains up 114% this year and has surged 255% over the past 12 months.

With the recent decline, Wall Street sees an opportunity.

Oppenheimer analyst Martin Yang on Tuesday raised his Corning price target to $230 from $210 and maintained an Outperform rating on the shares. That price target represents 18% upside from current trading levels but is below the stock's record closing high of $255.69 set on June 29.

"We view the AI-infrastructure unwind as an attractive entry point into GLW's attractive long-term growth story," Yang wrote.

Yang added that Corning is well positioned to benefit from near- and mid-term tailwinds across its business segments as customers continue increasing capital spending on optical fiber to support growing demand for generative AI.

Oppenheimer isn't the only firm that's still bullish on Corning.

Bank of America analysts led by Wamsi Mohan on Monday raised their Corning price target to $243 from $223 and reiterated a Buy rating.

Mohan believes that the main focus for investors is second-quarter earnings and whether the company's optical networking segment is poised to grow beyond the near term.

"We expect the quarter to reinforce that optical demand remains firm," Mohan wrote.

Wall Street has increasingly viewed Corning, the 175-year-old glass manufacturer, as a big beneficiary of AI-driven optical networking demand.

Corning makes the glass for notebook computers, desktop monitors, televisions, and other information display applications. It also provides products for the telecommunications industry as well as optical materials for the semiconductor industry.

The company has also touted its Corning GlassWorks AI Solutions as a one-stop shop for AI products and services, spanning every optical link in the AI network, from the data center to the chip, including interconnections between data center campuses and across long distances.

Big Tech has been taking notice. In June, Corning and Amazon.com announced a multibillion-dollar agreement to produce optical fiber for data centers.

That came after Nvidia in May made an investment worth up to $3.2 billion in Corning to help boost optical networking manufacturing capacity in Texas and North Carolina. The glass maker in January also secured a $6 billion deal to supply Meta Platforms with cabling, optical fiber, and connectivity solutions for data centers.

Corning, like many other companies, is currently deeply tied to the AI infrastructure build out and Big Tech's capital spending plans.

The question for investors is whether that demand is sustainable.

(END) Dow Jones Newswires

July 07, 2026 10:57 ET (14:57 GMT)

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