Corning (GLW) Rallied on Strong Long-Term Outlook Upgrade

Corning (GLW) Rallied on Strong Long-Term Outlook Upgrade

Thu, September 17, 2026 at 4:50 PM GMT+3 3 min read

• GLW +4.16%

Reaves W H & Co Inc's second-quarter 2026 investor letter reports a 10.55% increase for its "Reaves Long Term Value Wrap Strategy," outperforming the MSCI USA Infrastructure Index's 6.31% decline. The letter can be downloaded here. Cash distributions grew 6.7% in the quarter compared to Q2 2025. Despite geopolitical uncertainty, investor sentiment remained strong. AI expansion benefits companies in construction, connectivity, and infrastructure, especially in utility, communication, engineering, electrical, and power sectors. The strategy's performance benefited from investments across the AI infrastructure ecosystem and support for physical infrastructure supporting AI at scale. Although risks persist, the long-term investment case for many companies remains strong, positioning the strategy for durable growth, increasing dividends, and attractive long-term returns. Additionally, reviewing the Fund's top five holdings could help identify its best picks for 2026.

In its second-quarter 2026 investor letter, Reaves Long Term Value Wrap Strategy highlighted Corning Incorporated (NYSE:GLW) as a leading contributor to performance. Corning Incorporated (NYSE:GLW) is a technology company that operates through its Optical Communication, Display Technologies, Environmental Technologies, Specialty Materials, and Life Sciences business segments. On September 16, 2026, Corning Incorporated (NYSE:GLW) closed at $144.16 per share. Corning Incorporated (NYSE:GLW) returned 1.41% over the past month, while its shares gained 92.89% over the past 52 weeks. Corning Incorporated (NYSE:GLW) has a market capitalization of $125.38 billion, and its stock has traded within a range of $77.05 to $271.78.

Reaves Long Term Value Wrap Strategy stated the following regarding Corning Incorporated (NYSE:GLW) in its Q2 2026 investor letter:

"Corning Incorporated (NYSE:GLW): Shares of Corning doubled during the quarter as management used an investor day to once again deliver strong, positive revisions to its multi-year outlook. Late in the quarter, global competitors added further fuel to the rally by citing robust demand and pricing for fiber optic products, while Corning's CFO floated the possibility of building a production facility in South Korea for glass substrates used in semiconductor chip packaging. That latter product line appeared incremental to management's investor-day forecasts, and favorably captured investors' imagination."

Corning Incorporated (NYSE:GLW) is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 99 hedge fund portfolios held Corning Incorporated (NYSE:GLW) at the end of the first quarter which was 91 in the previous quarter. While we acknowledge the potential of Corning Incorporated (NYSE:GLW) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we discussed Corning Incorporated (NYSE:GLW) and noted that Artisan Global Opportunities Strategy initiated a position in the stock during the quarter. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

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This article is originally published at Insider Monkey.