Forecast Of The Day: Corning’s Carrier Network Revenue
What?
Trefis expects Corning’s (NYSE:GLW) Carrier Network Revenue – which includes the sales of fiber optic products and telecom equipment – to rise from about $2.7 billion in 2020 to $3.37 billion in 2021 and $3.64 billion in 2022.
Why?
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While the segment faced some headwinds in 2020, due to the impact of Covid-19, sales are likely to recover sharply driven by the demand from 5G wireless networks.
So What?
We think Corning stock is undervalued at levels of about $41 per share, given that the company is expected to see a big rebound in revenues this year, driven by strength across its optical communication, display, and Gorilla Glass segments.
See Our Complete Analysis For Corning
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