Bank of America Securities, Oppenheimer, and Citigroup have increased their price targets on Corning Inc. (NYSE: GLW), citing confidence in the company's growth driven by artificial intelligence infrastructure. Bank of America analyst Wamsi Mohan reiterated a Buy rating and raised the price forecast to $243 from $223. Separately, Oppenheimer analyst Martin Yang maintained an Outperform rating and lifted the price target to $230 from $210. Citigroup analyst Asiya Merchant also maintains a Buy rating and raised the price target to $240 from $225. The firms expect Corning's second-quarter results to reinforce confidence in a stronger second half, with Optical Communications driving revenue and earnings at or above guidance.

Optical Communications Growth

Mohan identified Optical Communications as Corning's key growth driver, supported by demand for AI infrastructure. He said Corning is benefiting from scale-up, scale-out, and scale-across AI buildout trends, particularly in fiber, connectivity, and cabling. BofA projects second-quarter Optical revenue of $2.05 billion, up 30.7% year over year. Within the segment, Enterprise revenue is expected to rise 45% to $1.12 billion, while Carrier revenue is projected to increase 17% to $932 million.

Segment Performance

Mohan said demand tied to Lumen Technologies Inc. (NYSE: LUMN), data-center interconnect activity, and fiber-to-the-home projects should support Carrier momentum. That support should continue even after stronger first-quarter activity pulled some seasonal demand forward. BofA identified Solar as Corning's main near-term headwind. Mohan expects a wafer transition to add about $30 million in second-quarter expense, pressuring margins before the drag eases in the second half. In Glass Innovations, BofA expects mid-single-digit sequential and year-over-year growth, led by Specialty Materials.

Financial Forecasts

BofA raised its 2028 EPS estimate to $6.50 from $5.95 and lifted its 2027 EPS estimate to $5.00 from $4.99. The firm now models revenue of $19.32 billion in 2026, $24.88 billion in 2027, and $30.57 billion in 2028. BofA values Corning at 37 times its 2028 EPS estimate. For the third quarter, BofA expects Corning to guide for revenue of about $5.2 billion and EPS of 87 cents to 91 cents. The outlook reflects Enterprise growth, steadier Carrier revenue, and easing Solar-related pressure.

Technical And Analyst Outlook

Corning remains in a solid long-term uptrend. The stock trades about 5.3% above its 50-day simple moving average of $189.18, 19.4% above its 100-day SMA of $166.82 and 55.9% above its 200-day SMA of $127.81. The relative strength index stands at 49.22. Analysts maintain a consensus Buy rating with an average price forecast of $206.60. Recent analyst actions include:

• Bank of America: Buy; raised price forecast to $243 on July 6.
• Citigroup: Buy; raised price forecast to $240.
• Mizuho: Outperform; raised price forecast to $270 on July 1.
• Oppenheimer: Outperform; raised price forecast to $230.
• Truist Securities: Hold; raised price forecast to $205 on June 22.

Major U.S. corporations are actively expanding their human workforce to support the artificial intelligence (AI) boom, contradicting recent claims that the technology will render jobs obsolete. Nvidia Corp. and Corning Inc. are partnering to construct three new advanced optical fiber manufacturing facilities in North Carolina and Texas, a venture expected to create over 3,000 jobs. Simultaneously, Ford Motor Co. has reversed course on automation, rehiring 350 veteran engineers after its AI-driven quality control systems proved inadequate. These actions highlight the enduring necessity of human labor in both building and managing advanced technology infrastructure.

Infrastructure Boom Fuels Hiring

The expansion by Corning and Nvidia is driven by the physical requirements of AI data centers, which necessitate extensive optical fiber networks. Corning CEO Wendell Weeks emphasized that AI is a significant job creator, particularly in manufacturing. "The common story is AI being powered by chips, but actually, those chips are connected by glass," Weeks noted, pointing to the often-overlooked hardware components essential for the industry.

Ford’s AI Reality Check

While infrastructure development accelerates, Ford's experience underscores the limitations of replacing human judgment with software. The automaker found that its automated quality control results "were not good enough" to identify failure points before parts reached factories. Consequently, Ford brought back experienced engineers to oversee quality and mentor junior staff. Ford Vice President Charles Poon admitted the company mistakenly believed that introducing AI and adjusting design requirements would be sufficient to ensure high quality. This strategic reset has already saved the company hundreds of millions of dollars.

Market Performance

Corning's stock has reflected the positive sentiment surrounding its AI-related expansion. GLW shares have surged 151.98% year-to-date and 319.53% over the year. However, the stock closed 13.62% lower at $220.63 on Wednesday and was down 2.82% in premarket trading on Thursday. Analyst rankings indicate GLW maintains a strong price trend across short, medium, and long-term periods, despite a poor value score.