Corning (GLW), best known to many investors as the maker of Gorilla Glass, had increasingly been revalued as an important supplier to the AI buildout thanks to its optical connectivity business. However, its latest earnings shock is a reminder that even the market’s most celebrated AI infrastructure winners can run into gravity when expectations get too high.
Its shares fell as much as 20% intraday on July 28 after the company reported second-quarter results. That is one of the sharpest single-day declines in years for a name that had become a high-conviction proxy for AI infrastructure spending.
