Corning shares have fallen since late June to about $132, under half the 52-week high of about $272. In its October 27 third-quarter report, the company said core sales rose 19% to $5.08 billion and adjusted EPS rose 36% to $0.91, topping management's forecast; optical communications sales grew 44%. The author estimates the stock could reach about $187 by end-2030, assuming 2030 adjusted EPS of $7.50 and a P/E ratio of 25, or roughly 9% annual returns before dividends. The author notes that investors usually pay less per dollar of earnings as a company matures; at a P/E of 20, the price would be about $150, or about 3% a year. The author views the stock as reasonably priced for its earnings growth, while remaining cautious about the valuation and noting dependence on AI spending by large tech firms.
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