Forecast Of The Day: Corning’s Optical Communication Revenue

October 19th, 2022 by Trefis Team
-1.79%
Downside
42.85
Market
42.08
Trefis
GLW: Corning logo
GLW
Corning

What?

Corning’s (NYSE:GLW) Optical Communication Revenue rose from about $3.56 billion in 2020 to $4.35 billion in 2021. Trefis expects the metric to rise to about $5.44 billion by 2023.

Why?

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We expect growth to be driven by the wider adoption of 5G, which requires stronger backhaul infrastructure, and the growth of cloud computing, which requires high levels of Internet bandwidth.

So What?

We remain positive on GLW stock, with a $42 price estimate, which is about 35% ahead of the market price.

See Our Complete Analysis For Corning

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

Returns Oct 2022
MTD [1]		 2022
YTD [1]		 2017-22
Total [2]
 GLW Return 9% -15% 30%
 S&P 500 Return 4% -22% 66%
 Trefis Multi-Strategy Portfolio 3% -24% 201%

[1] Month-to-date and year-to-date as of 10/19/2022
[2] Cumulative total returns since the end of 2016

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