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GLW

Corning Incorporated

NYSE: GLW · TECHNOLOGY · ELECTRONIC COMPONENTS

$164.24
+8.12% today

Updated 2026-04-30

Market cap
$141.09B
P/E ratio
78.96
P/S ratio
8.64x
EPS (TTM)
$2.08
Dividend yield
0.74%
52W range
$44 – $179
Volume
12.6M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Corning Incorporated (GLW) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$164.24
Consensus
$123.82
-24.61%
2030 Target
$443.76
+170.19%
DCF
—
—
12 analysts:
5 Buy3 Hold1 Sell

Management guidance

Management has not provided explicit multi-year revenue targets in the available research. However, CEO Wendell Weeks and management have emphasized strong AI infrastructure momentum, with a major $6B multi-year supply agreement with Meta for optical cables supporting AI data centers. The company is expanding manufacturing capacity in North Carolina to support this demand, indicating management confidence in sustained double-digit growth through 2028+.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$724.81
$31.4B Rev × 20x P/S
Base case (2030)
$443.76
$31.4B Rev × 12x P/S
Bear case (2030)
$295.84
$31.4B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$12.6B$13.1B$15.6B$18.9B$21.3B$24.2B$27.6B$31.4B
Revenue growth—4.2%19.1%20.8%12.7%13.7%14.1%13.8%
EPS$1.70$1.96$2.17$3.12$3.86$4.65$5.42$6.28
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$266.26$295.84$340.22$384.59$443.76

Catalysts & risks

Growth catalysts
+ Meta $6B optical cable supply agreement and North Carolina manufacturing expansion for AI infrastructure
+ AI data center buildout requiring fiber, connectivity, and optical components through 2028-2030
+ Specialty Materials segment strength (cover glass for devices, Gorilla Glass innovations)
+ Government broadband deployment funding (BEAD program) driving fiber demand
+ 5G and hyperscale data center expansion globally
Key risks
- High customer concentration (Meta represents significant portion of near-term revenue growth)
- Geopolitical volatility and trade tensions impacting supply chains and tariffs
- Valuation stretched at 80.8x P/E with forward P/E of 38x; significant multiple compression risk
- Insider selling pressure (CEO and executives selling substantial shares despite positive outlook)
- Competition from other optical/connectivity suppliers in AI infrastructure space

Methodology

Corning Incorporated's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 12 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.