Can Corning Stock Hold Up When Markets Turn?
Corning (GLW) stock is up 26.4% in 21 trading days. The rally reflects renewed optimism around its AI data center fiber optics and strong earnings, but big moves like this often invite a tougher question: is the stock truly resilient when markets reverse?
Before judging its downturn reslience, let’s look at where Corning stands today.
- Size: Corning is a $97 Bil company with $15 Bil in revenue currently trading at $112.79.
- Fundamentals: Last 12 month revenue growth of 18.3% and operating margin of 13.4%.
- Liquidity: Has Debt to Equity ratio of 0.1 and Cash to Assets ratio of 0.06
- Valuation: Corning stock is currently trading at P/E multiple of 70.7 and P/EBIT multiple of 45.3
- Has one instance since 2010 where it dipped >30% in < 30 days and subsequently returned 124% within a year. See GLW Dip Buy Analysis.
These metrics point to a Moderate operational performance, alongside Very High valuation – making the stock Unattractive. For details, see Buy or Sell GLW Stock
That brings us to the key consideration for investors chasing this rally: how resilient is GLW stock if markets turn south? This is where our downturn resilience framework comes in. Suppose GLW stock falls 20-30% to $79 – can investors comfortably hold on? Turns out, the stock has fared worse than the S&P 500 index during various economic downturns, based on (a) how much the stock fell and, (b) how quickly it recovered. Below, we dive deeper into each such downturn.
2022 Inflation Shock
- GLW stock fell 42.5% from a high of $46.25 on 21 April 2021 to $26.59 on 27 October 2023 vs. a peak-to-trough decline of 25.4% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 9 October 2024
- Since then, the stock increased to a high of $112.79 on 5 February 2026 $112.79
| GLW | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -42.5% | -25.4% |
| Time to Full Recovery | 348 days | 464 days |
2020 Covid Pandemic
- GLW stock fell 41.6% from a high of $30.40 on 13 January 2020 to $17.75 on 23 March 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 27 July 2020
| GLW | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -41.6% | -33.9% |
| Time to Full Recovery | 126 days | 148 days |
2018 Correction
- GLW stock fell 25.1% from a high of $36.13 on 20 September 2018 to $27.07 on 27 August 2019 vs. a peak-to-trough decline of 19.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 16 November 2020
| GLW | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -25.1% | -19.8% |
| Time to Full Recovery | 447 days | 120 days |
2008 Global Financial Crisis
- GLW stock fell 71.8% from a high of $27.77 on 19 May 2008 to $7.82 on 20 November 2008 vs. a peak-to-trough decline of 56.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 1 March 2017
| GLW | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -71.8% | -56.8% |
| Time to Full Recovery | 3,023 days | 1,480 days |
Feeling jittery about GLW stock? Consider portfolio approach.
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