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← ARIAMARIAM Research · Ticker report◆Data as of Sep 15, 2026Print PDFs — coming with membership
GLW
CORNING INC
DRAWING & INSULATING OF NONFERROUS WIRE
Corning is a provider of glass, ceramics, and optical fiber across six distinct end markets. Corning's largest segments by revenue are display glass for TVs and optical fiber for telecom networks and data centers. It also provides cover glass for smartphones as well as filters and substrates and glass for cars, produces pharmaceutical glass, and produces polysilicon for solar panels. Corning is a US producer and is vertically integrated across its products and markets.
The house read — AI committeei
Cautious. GLW (CORNING INC /NY) is held by 34 peer funds ($545M disclosed exposure), first entering the sphere on 2019-07-10.
Committee last reviewed this name Jul 31, 2026 — 47 days ago; it is in the nightly refresh queue · 9 seats shown
Market cap$126.8B
P/E · trailing67.5×
EPS · 12 mo$2.18
Revenue · 12 mo$17.0B
Revenue growth+19.4%
Gross margin36.4%
Operating margin15.5%
Net margin12.2%
Operating cash · 12 mo$3.9B
Shares out0.88B
Share count YoY+1.3%
LAST CLOSE$143.57-0.0% today
-13.5% this week+84.1% over 12 months52-wk $68.47–$255.69
The expectation — AI committeei
FIG 1 — the past year, then where our committee thinks it can go over a monthfan drawn from the committee's 2026-07-31 review at $138.25 · price return, dividends excluded · hover the history to probe
The middle path puts the price at $135.96 (−1.7%) a month from the review; the shaded cone is the range the committee considers likely — from $91.00 (−34.2%, 1 chance in 20 of ending lower) to $188.20 (+36.1%, 1 chance in 20 of ending higher). A considered estimate, not a guarantee.
Our committee of 9 independent AI analysts, each publishing under a house pen name; a chair synthesizes their disagreement.RESEARCH, NOT INVESTMENT ADVICE
CatalystsOct 27, 2026 · quarterly earnings in 41 daysquarterly fund disclosures(13F)~45 days after each quarter
GLW (CORNING INC /NY) is held by 34 peer funds ($545M disclosed exposure), first entering the sphere on 2019-07-10. The sphere is distributing: 7 opens/adds against 14 exits/trims over the last 90 days. The latest SEC 13F quarter ended 2026-06-30 shows 15 registry hedge funds in our tracked set hold it, led by Citadel's reported long position at $790M (<0.1% of its reported 13F book). Quarter over quarter (2026-06-30): 3 exits; 9 managers report a put position. Fundamentally: revenue +19% YoY (TTM), 12% TTM net margin, P/E 68. Next earnings estimated 2026-10-27; technically it is trading sideways, 42% off the 52-week high (pullback). Options flow on 2026-08-20 flagged: net premium bearish.
Recent coverage mentioning GLW
No stored coverage in the recent window — a quiet tape, not missing data.
What the smart money is doing
31 of the professional funds we track closest hold this name — up from 17 six months ago, with $545M of disclosed exposure. The largest position: EPAI at 3.2% of its book.
Over the last 7 days of disclosures: 1 funds bought and 2 sold (through Aug 25, 2026).
First entered our tracked sphere Jul 10, 2019. One honest caveat: holdings data is quarterly and arrives with a lag — it shows where conviction was, not where the price goes next.
17
6 mo ago
25
3 mo ago
31
now
FIG 2 — funds in our tracked sphere holding this namefund disclosures are quarterly and lagged
The committee — independent lenses on one stockreviewed Jul 31, 2026
Each pen name is a stable house byline for one real committee seat — the same seat, every report, so its record is real and continuous. The names honor thinkers whose spirit fits each seat's voice; the analysis is our models', not a re-enactment of theirs.
Sima Qian — the chair
synthesis of the disagreement
Synthesis pending the next review.
RESEARCH, NOT INVESTMENT ADVICE
Where the seats land — next month
−38.2%0+45.2%
F. Yukichi+0.6%
A. Lovelace+0.2%
A. Smith−0.3%
Ibn Khaldun−1.1%
C. Babbage−1.7%
B. Franklin−1.9%
L. Bachelier−2.1%
R. Descartes−3.6%
J. Schumpeter−5.1%
FIG 3 — each seat's expected month; the dot is its middle path
Fukuzawa Yukichi
Modernization
Joseph Schumpeter
Innovation
René Descartes
Method & doubt
Adam Smith
Markets
Louis Bachelier
Probability
Benjamin Franklin
Pragmatics
Ada Lovelace
Systems & compute
Ibn Khaldun
Cycles
Charles Babbage
Engineering
What the market expects — vs what we expect
No listed-options curve is available for this name — the market-implied view needs a liquid option chain.
The fundamentals, in English
1
Sales last quarter: $4.5B
Up 17% from the same quarter a year earlier.
2
Profitability
36¢ of each sales dollar survives direct costs; 16¢ reaches operating profit.
4
What you pay: 67.5× trailing earnings
Price ÷ the last 12 months' earnings per share — the simplest valuation yardstick.
5
Cash generation: $3.9B of operating cash in 12 months
Cash from operations, before investment.
The numbers — 8 quarters, side by side
Quarter
Revenue
vs yr ago
Gross
Operating
EPS
Op. cash
2026-Q2
$4.5B
+17%
36.1%
15.5%
$0.64
$1.7B
2026-Q1
$4.1B
+20%
36.9%
15.4%
$0.43
$362M
2025-Q3
$4.1B
+21%
37.1%
14.4%
$0.50
$784M
2025-Q2
$3.9B
+19%
36.0%
14.8%
$0.54
$708M
2025-Q1
$3.5B
+16%
35.2%
12.9%
$0.18
$151M
2024-Q3
$3.4B
+7%
33.5%
8.9%
$-0.14
$699M
2024-Q2
$3.3B
+0%
29.2%
5.7%
$0.12
$521M
2024-Q1
$3.0B
-6%
33.4%
8.5%
$0.24
$96M
A missing value renders an honest “—”, never zero. Per-share figures are as the company filed them at the time (not adjusted for later stock splits). Source: the company's own SEC filings.
Street record:
Positioning & protection, in English
The price of protection — vs its own past year
today · 54th percentile
cheaper than usual
more expensive than usual
Paying for a bet on a rise
$15M · 26%
Paying to protect against a fall
$43M · 74%
FIG 5 — option-market positioning · Aug 20, 2026
In options terms: 30-day implied vol 63% (rank 54/100 for the year), 32 pts below the recent-vol benchmark of 94%. Options flow on 2026-08-20: $15M in calls vs $43M in puts at 0.7x normal volume.
How positioning like this is typically read: Buyer-initiated downside flow is present while implied volatility is below the recent-vol benchmark (IV rank 54/100 for the year). This is a measured difference between the tape and that benchmark, not proof of direction or mispricing.
Earnings land in 68 days — option prices around scheduled events usually rise into the date and reset after; that is normal, not a prediction.
Public filings activity
Public officials must disclose their trades — with a lag of up to 45 days. Recent disclosures naming GLW:
Mar 27, 2026U.S. Senate member — Alan Armstrong · Sell, $100,001 - $250,000filed 116 days after the trade
Mar 25, 2026U.S. House member — Gilbert Cisneros · Buy, $1,001 - $15,000filed 14 days after the trade
Mar 19, 2026U.S. House member — Maria Elvira · Buy, $15,001 - $50,000filed 33 days after the trade
Why we show this. These are public records anyone can read — we collect them in one place and date both the trade and the filing, so you can see the lag for yourself. Source: public congressional records.
Trading opportunities — the alpha sectionRESEARCH, NOT INVESTMENT ADVICE
Our engine turns the committee's expected range into concrete trade structures — each with a one-sentence thesis, the structure spelled out in plain English, and a picture of what you'd make or lose across possible prices.
No idea stands for GLW right now. Trade ideas are regenerated after every committee review and pass strict pricing gates — most names on most days honestly have none. Fresh ideas appear here after the next nightly review.
Research, not investment advice.All returns shown are price returns — dividends excluded.AI-derived content is always violet-labeled.Report data as of Aug 25, 2026.
ARIAM
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Ariam Global Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission and sub-adviser to the ARIA Opportunities ETF (NYSE Arca: ARIA). Registration does not imply a certain level of skill or training. Nothing here is an offer or a recommendation.