Gullo Michelle L sold $1.5M of GLW

Apple's iPhone revenue rose 17% to $57.6B in Q4, while Qualcomm's handset chip revenue fell 26% YoY. Corning and Arm also reported declines in phone-linked sales. Rising memory costs, driven by AI data center demand, are squeezing margins and supply chains. Apple guided holiday-quarter gross margin down to 45-46%.

The Democratic Party won control of the U.S. Senate and House in the midterms, leading to a sharp sell-off in tech stocks. The Nasdaq dropped 5.5% on AI regulation fears, with Nvidia and Micron among the hardest hit. Investors are concerned about tighter data center rules under Democratic control.

AI's growth is increasing demand for fiber optics, with companies like Corning expanding production. Hyperscalers such as Meta and Amazon are securing long-term fiber supply deals. Innovations like hollow-core fiber aim to boost data transmission speeds. Corning reported a 44% year-over-year sales jump in its optical communications division, with GenAI product sales more than doubling.

Nvidia, Nike, and 10 other companies objected to OKX-ICE's tokenized stock venue, bringing total objections to 50. The venue, a joint venture between ICE and OKX, plans to offer tokenized U.S. stocks. Companies have 30 days to object under SEC rules. Nasdaq reportedly encouraged some firms to opt out, citing concerns about price transparency and trade reporting.

Corning Inc. (NYSE: GLW) shares have surged 44% in 2026, driven by demand for its fiber-optic data center cables used in AI infrastructure. The company's optical communications revenue grew 44% year-over-year, with AI-related sales up over 100%. Corning expects revenue to reach $30B by 2028 and $40B by 2030. Despite a high P/E ratio of 40.6, analysts project earnings growth to 2027.

Corning (GLW) reported Q3 revenue of $5.08B, beating estimates, with 18.9% YoY growth. Adjusted EPS was $0.91, also beating estimates. Q4 guidance was raised above expectations. Optical communications and AI demand drove growth, with new customer agreements and margin improvements. Solar business grew but remains a margin drag. Automotive and display segments showed modest gains. Management anticipates sustained AI data center demand.