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Jim Cramer on Corning: “The Company’s More Relevant Than Ever”

Corning Incorporated (NYSE:GLW) was one of the stocks featured in Jim Cramer’s Mad Money recap, as he discussed how the AI build-out could power the economy. Cramer highlighted the company’s latest partnership with NVIDIA, as he commented:

Oh boy, this is a big week for Corning, the iconic American glass maker, ringing the closing bell here today to celebrate its 175th anniversary. But even though it’s old, the company’s more relevant than ever. They make everything from iPhone screens to the kind of optical fiber that’s used to tie everything in the data center together. Just yesterday, NVIDIA announced a major new partnership with Corning to expand their optical connectivity manufacturing capacity by a factor of 10. Basically, NVIDIA’s taking a big position in Corning to fund that expansion, which is why the stock shot up 12% yesterday. And this is something that’s already quadrupled over the past 12 months. Big win for my Charitable Trust, by the way, for both…

It’s a long-term bet on the comeback in the American industry. As America marks its 250th anniversary, these are exactly the kinds of companies we want to highlight, businesses betting on innovation, manufacturing, future of American industry. And that’s not the only big news out of Corning this week. On top of the NVIDIA deal, they also held an investor day yesterday. Management issued some very bullish long-term financial targets. The glass maker with major exposure to the data center via its optical fiber said it’s now targeting an annual revenue run rate of $20 billion by the end of this year, $30 billion by the end of 2028, possibly $40 billion by the end of 2030. Good luck finding another 175-year-old company of that kind of growth.

Stock market data. Photo by Photo by Alesia Kozik

Corning Incorporated (NYSE:GLW) develops optical fiber, cables, and related hardware for telecommunications, and produces glass substrates for displays used in TVs, computers, and mobile devices.

While we acknowledge the risk and potential of GLW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GLW and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

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At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 140 Metas
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