• Apple and Corning recently announced an expansion of their partnership, with Apple committing US$2.5 billion to produce all iPhone and Apple Watch cover glass at Corning's Harrodsburg, Kentucky facility, making it the sole global supplier of this glass.
• This move marks the first time all iPhone and Apple Watch cover glass will be manufactured entirely in the U.S., and includes the creation of the world's largest smartphone glass production line along with a dedicated innovation center for advanced materials.
• We'll explore how this exclusive long-term manufacturing partnership with Apple impacts Corning's investment narrative and long-term growth outlook.

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Corning Investment Narrative Recap

To be a Corning shareholder, you need to believe in the company’s long-term ability to capitalize on demand for advanced materials and connectivity, while navigating industry competition and shifting technology trends. The expanded Apple partnership could boost near-term momentum, securing Corning's position as the exclusive supplier for iPhone and Apple Watch cover glass in the US, but does not substantially change Corning’s primary short-term catalyst, which remains revenue growth in Optical Communications for next-generation data centers. The biggest risk is still potential slowdowns in Gen AI and solar demand, which could cloud revenue expectations despite headline client wins.

Among recent company moves, Corning’s collaboration with Broadcom to develop co-packaged optics infrastructure stands out for directly supporting key catalysts: innovation and growth in the data center market. This initiative, alongside the Apple announcement, underscores Corning’s aim to anchor itself at the center of technological transformation across multiple high-growth verticals.

However, investors should remain aware that while Corning’s US manufacturing focus helps manage tariff exposure, it does not fully shield the company from risks linked to global trade tensions...

Corning's outlook anticipates $20.2 billion in revenue and $2.5 billion in earnings by 2028. This is based on a projected 12.4% annual revenue growth rate and a $1.68 billion increase in earnings from current earnings of $819.0 million.

Uncover how Corning's forecasts yield a $66.25 fair value, in line with its current price.

Exploring Other Perspectives

Three distinct fair value estimates from the Simply Wall St Community range from US$53.23 to US$66.25 per share. While community sentiment varies, the company’s reliance on future Gen AI and solar demand for growth highlights why opinions about the path forward can differ greatly.

Explore 3 other fair value estimates on Corning - why the stock might be worth as much as $66.25!

Build Your Own Corning Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Corning research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.
• Our free Corning research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Corning's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.