Jim Cramer on Corning: “This is the Finest Glass Maker in the World”

Corning Incorporated (NYSE:GLW) is one of the noteworthy Q3 stocks Jim Cramer was focused on. Cramer noted that he has been watching the company closely for the Charitable Trust. He said:

“When you reach number six of the best performers this quarter, you get to a company that I’ve had my eye on for the Charitable Trust, and that company is Corning. This is the finest glass maker in the world. I recently spent a nice chunk of time with Wendell Weeks, he’s the CEO, at this Harrodsburg, Kentucky facility that we went to, where they make the cover glass for your iPhone and Apple Watch.

The Apple contract matters tremendously, but you know what’s driving things right now? The stock’s trading on the fiber optic glass. That’s the best way to move information around in a data center. Glass doesn’t burn so hot, so it’s an ideal conductor. I think it’s almost a foregone conclusion that one day Corning will replace the copper inside the immense clusters of semiconductors, NVIDIA product, in the data center. That would solve some of the heat problems, and it’s why Corning stock rallied 56% in the quarter.”

Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels

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. Moreover, it supplies specialty materials, emission control products, and laboratory equipment.

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Disclosure: None. This article is originally published at Insider Monkey.