Corning’s Stock Rally Risks Outpacing Reality
The Information
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AI Hardware
Shares of iconic glassmaker Corning Inc. have doubled so far this year to their highest price ever, thanks to surging demand for Corning’s fiber optic cables that connect servers and AI data centers to one another. A partnership Corning announced with Nvidia this week gave the stock another lift. But Corning’s current deluxe valuation, which is now based almost entirely on sky-high expectations for its optics business, might be fragile than it appears.