Corning (GLW) stock gained on Friday after one of the Gorilla Glass maker’s factories was visited by Apple (AAPL) CEO Tim Cook. Cook was spotted at the company’s Harrodsburg, Kentucky factory, which is where it makes the specialized glass that is used in Apple’s iPhone and Apple Watch devices.
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A visit from Tim Cook isn’t too unexpected, as Corning has supplied Apple with glass for its smartphones since the launch of the original iPhone. However, it does seem to be a positive sign that the relationship between these two companies will continue. That’s great news for investors, as Apple holds nearly 50% of the U.S. smartphone market share and up to 29% of the global smartphone market share.
Extra attention was put on Cook’s visit to the Corning facility by Jim Cramer, the host of CNBC’s Mad Money. Cramer was also at the factory when Cook made his appearance, and the CNBC host said there was a “big day ahead.”
Corning Stock Movement Today
Corning stock was up 1.8% on Friday, extending a 64.78% year-to-date rally. The shares have also climbed 77.58% over the past 12 months. Another highlight for Corning was the recent reveal of the iPhone 17 Pro and Pro Max, as well as the iPhone Air. There’s high demand for Apple’s mobile devices, which leads to more business for Corning. If that demand continues, GLW stock will likely continue to rise.
Is Corning Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Corning is Strong Buy, based on 10 Buy and two Hold ratings over the past three months. With that comes an average GLW stock price target of $70.09, representing a potential 8.81% downside for the shares.
