Why Corning Stock Rose 24% in 2020

1 min read

Shares in materials science company Corning (NYSE: GLW) rose 24% in 2020, according to data provided by S&P Global Market Intelligence. The year’s performance marks a strong recovery from the lows of March. In a nutshell, Corning’s sales are recovering and the market is pricing in strong growth in 2021.

Image source: Getty Images.

Despite the ravages to the global economy in 2020, Corning managed to eke out a 2% year-over-year sales increase in the third quarter. It was driven by a 4% increase in display technologies revenue (OLED and LCD displays for televisions, notebooks, and monitors) and a 23% increase in specialty materials (glass and other materials used in smartphones, semiconductors, and general industrial applications). Both factors helped to offset declines in optical communications (fiber optic and cable), environmental technologies, and life sciences.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Why Repligen Stock Soared 107% in 2020

Next Story

Got $10,000 and 10 Years to Wait? These 3 Stocks Could Make You a Fortune

Latest from Blog