We are buying 80 shares of Corning at roughly $155.42. Following the trade, Jim Cramer's Charitable Trust will own 530 shares of GLW, increasing its weighting in the portfolio to 2% from 1.70%:
We have been eyeing a purchase of Corning shares since Thursday, when we upgraded our rating to a buy-equivalent 1 upon learning that much of the margin-call-related forced selling of AI stocks was over. We are rebuilding this small position following a string of well-timed sales in June at progressively higher prices:
The shares of the data-center supplier fell almost 46% in July, a dramatic decline that underscored why we like to trim stocks that make parabolic moves higher. However, the stock has made a strong move since our upgrade:
Corning stated it is "entering a new phase of accelerating growth," with sales expected to grow at a compound annual growth rate of 19% from the fourth quarter of 2026 to the fourth quarter of 2030:
Corning shares are also getting a boost after Reuters reported that the Federal Communications Commission is drafting a ban on imports of some Chinese data center components:
