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← ARIAMARIAM Research · Ticker report◆Data as of Oct 30, 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) is held by 36 peer ETFs ($560M disclosed exposure), first entering the sphere on 2026-06-09.

Committee last reviewed this name Oct 27, 2026 — 5 days ago · 3 seats shown

Market cap$108.9B

P/E · trailing58.0×

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 out0.86B

Share count YoY+1.2%

LAST CLOSE$123.31-4.3% today

-0.3% this week+36.6% over 12 months52-wk $78.03–$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 2026-10-27 review at $126.41 · price return, dividends excluded · hover the history to probe

The middle path puts the price at $125.78 (−0.5%) a month from the review; the shaded cone is the range the committee considers likely — from $92.91 (−26.5%, 1 chance in 20 of ending lower) to $160.29 (+26.8%, 1 chance in 20 of ending higher). A considered estimate, not a guarantee.

Our committee of 3 independent AI analysts, each publishing under a house pen name; a chair synthesizes their disagreement.RESEARCH, NOT INVESTMENT ADVICE

CatalystsJan 26, 2027 · quarterly earnings in 86 daysquarterly fund disclosures (13F) ~45 days after each quarter

On this pageThe story Smart money The committee Market vs us Fundamentals Positioning FilingsTrading opportunities~90-second scan · expands add the depth

The story

GLW (Corning Inc) is held by 36 peer ETFs ($560M disclosed exposure), first entering the sphere on 2026-06-09. The latest SEC 13F quarter ended 2026-06-30 shows 14 registry hedge funds in our tracked set hold it, led by Lone Pine's reported long position at $697M (4.3% 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 58. Next earnings estimated 2027-01-26; technically it is in a downtrend, 51% off the 52-week high.

Recent coverage mentioning GLW

Corning Delivers Outstanding Third-Quarter Results(1)

Investor relations · Oct 27, 2026

$GLW Corning Q3 2026 Earnings - Core EPS 91c (est 89c) - Core Sales USD 5.08B (est 5.02B

Tradex · Oct 27, 2026

Corning Profit Surges on AI Demand

WSJ · Oct 27, 2026

Corning CEO Wendell Week: I'm quite bullish on AI demand over the long term

CNBC · Oct 27, 2026

Corning Upgrades and Extends Springboard Plan, Outlines New Phase of Accelerating Growth

Investor relations · May 6, 2026

What the smart money is doing

36 of the professional funds we track hold this name, with $560M of disclosed exposure; 26 hold at least 0.1% of their fund. The largest position: EPAI at 2.8% of its book.

First entered our tracked sphere Jun 9, 2026. One honest caveat: holdings data is quarterly and arrives with a lag — it shows where conviction was, not where the price goes next.

26

3 mo ago

26

now

FIG 2 — funds in our tracked sphere holding this namefund disclosures are quarterly and lagged

The committee — independent lenses on one stockreviewed Oct 27, 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

No written synthesis for this review; the seats' ranges above show the disagreement.

RESEARCH, NOT INVESTMENT ADVICE

Where the seats land — next month

−35.5%0+29.5%

Ibn Khaldun+1.0%

F. Yukichi−2.8%

A. Smith−4.0%

FIG 3 — each seat's expected month; the dot is its middle path

Adam Smith

Markets

Fukuzawa Yukichi

Modernization

Ibn Khaldun

Cycles

What the market expects — vs what we expect

MARKET-IMPLIEDCOMMITTEE AIupdated 2026-10-27 · hover to probe

FIG 4 — expected one-month price return: the option market vs our committeearea under each curve = probability · hover a p05/p50/p95 marker for plain English

Two curves, one honest disagreement

Option prices let us read what the market as a whole is bracing for over the next month: roughly −24.1% to +29.6%.

Our committee's range is −26.5% to +26.8%, middle −0.5%. Where the curves differ is exactly where our research disagrees with the crowd — hover the chart to read the chance of ending below any level, under each view.

The fundamentals, in English

Sales last quarter: $4.5B

Up 17% from the same quarter a year earlier.

Profitability

36¢ of each sales dollar survives direct costs; 16¢ reaches operating profit.

What you pay: 58.0× trailing earnings

Market value ÷ the last 12 months' earnings — the simplest valuation yardstick.

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-Q4	$4.2B	+20%	35.5%	15.9%	—	$1.1B
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-Q4	$3.5B	+17%	34.2%	11.2%	—	$623M
2024-Q3	$3.4B	+7%	33.5%	8.9%	$-0.14	$699M

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: 2026-09: basis differs · 2026-06: basis differs · 2026-03: basis differs · 2025-12: basis differs

Positioning & protection, in English

The price of protection — vs its own past year

today · 37th percentile

cheaper than usual

more expensive than usual

Paying for a bet on a rise

$22M · 59%

Paying to protect against a fall

$15M · 41%

FIG 5 — option-market positioning · Oct 27, 2026

In options terms: 30-day implied vol 59% (rank 37/100 for the year), 6 pts below the recent-vol benchmark of 64%. Options flow on 2026-10-27: $22M in calls vs $15M in puts at 1.5x normal volume.

How positioning like this is typically read: Options flow is unremarkable today and implied vol is cheap vs the recent-vol benchmark (IV rank 37/100 for the year). Nothing here demands action — the other report sections carry the story.

Earnings land in 86 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:

Sep 24, 2026U.S. House member — Maria Elvira · Sell, $1,001 - $15,000filed 14 days after the trade

Sep 8, 2026U.S. House member — Maria Elvira · Buy, $1,001 - $15,000filed 30 days after the trade

Sep 4, 2026U.S. House member — Maria Elvira · Sell, $1,001 - $15,000filed 34 days after the trade

Jul 23, 2026executive — Donald J Trump · Sell, $15,001 - $50,000filed 61 days after the trade

May 13, 2026executive — Sean McMaster · Buy, $50,001 - $100,000filed 63 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 Oct 27, 2026.