GLW Stock Price Target: Why Corning Glass Can Still Bounce Back To Above $30

This GLW stock price target article is written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First

Summary:

  • Corning’s stock has a 1-month price return of +25.72%. I’m still endorsing it as a buy. Corning’s Valor Glass drug packaging  is a pandemic winner.
  • The factories in China are again operating at full capacity. The second-half of 2020 will be kind to Corning Glass.
  • The headwind from COVID-19 is not just temporary. People and businesses are learning to adapt and function with this pandemic. 
  • The pandemic-induced greater demand for more internet bandwidth and cloud computing is a strong tailwind for Corning’s fiber optics products.
  • The Price/Sales valuation of GLW is lower than its industry peers. This stock is still therefore a good-value buy.

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Stock Predictions: Fast-Growing 5G Infrastructure Deployments Is A Tailwind For Corning

motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary

  • Corning Incorporated’s stock price has a 6-month return of -13.69%. It is now cheaper to own.
  • The depressed stock price of GLW gave it a much lower Price/Sales valuation ratio than its peers, INTC, QCOM, and CSCO.
  • Corning has an emerging growth driver in 5G. Intel and Verizon are now partners with Corning’s fiber optics-centric 5G infrastructure deployment.
  • It is not only smartphones that’s driving 5G adoption. Businesses, factories, homes, offices, are all future 5G adopters.
  • The global 5G infrastructure market is growing at 95.8% from 2018 to 2025. It will have a market size of $58.17 billion by 2025.

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