TLDR
- Corning (GLW) hit an all-time high of $212.53, up over 282% in the past year
- Corning signed a major multiyear fiber optics supply deal with Amazon for U.S. data center expansion
- The stock is up 127% year to date and 17.3% over the past week alone
- Corning also has active partnerships with Nvidia and Meta, and is building three new manufacturing facilities
- The company targets $35 billion in annualized sales by 2030, with $20 billion expected by end of 2026
Corning (GLW) stock hit an all-time high of $212.53 on Tuesday, extending a rally that has now pushed the stock up 282% over the past 12 months. The stock last closed at $205.83, up 17.3% for the week.
The catalyst behind the latest move is a new multiyear fiber optics supply agreement with Amazon. The deal connects Corning directly to U.S. data center expansion tied to AI infrastructure buildout.
Corning also has active partnerships with Nvidia and Meta, keeping it plugged into some of the biggest technology spenders in the market right now.
The company is adding capacity to match. Corning is building three new manufacturing facilities and has said it will create more than 3,000 jobs as part of its expansion push.
Year to date, GLW is up 127%. Over six months, it has gained 117%. The stock is trading at roughly seven times its level from three years ago.
Springboard Plan Eyes $35 Billion by 2030
Corning’s Springboard growth plan now targets $35 billion in annualized sales by 2030. The company expects to hit $20 billion in annualized sales by the end of 2026, which would represent a 15% compound annual growth rate from Q4 2023 to Q4 2026.
The Optical Communications segment is expected to play a growing role in that mix, particularly as data center projects ramp up across the U.S.
The company has maintained dividend payments for 20 consecutive years. On Tuesday, Corning’s board declared a quarterly dividend of $0.28 per share, payable September 29, 2026, to shareholders of record on August 31, 2026.
Valuation Flags Worth Watching
The stock is not without its risks. Corning’s current P/E ratio sits at around 97.9, well above the industry average of approximately 32.1.
GLW is trading about 2% above the analyst consensus price target of $201.73, within a range of $150 to $230. Analysis from both InvestingPro and Simply Wall St flags the stock as trading above estimated fair value — Simply Wall St puts it at 31.8% above fair value.
That gap between price and estimated value is something investors are watching closely, particularly given how quickly the stock has moved.
The Amazon fiber deal was the most recent development, announced alongside the all-time high print on June 24-25, 2026.
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