Here’s A Stock That Jim Cramer Like Before But Now He Just Doesn’t Want To Buy It
Corning Inc. (NYSE:GLW), a glass tech manufacturer, was previously praised by Jim Cramer for its Apple partnership and potential in data centers. However, Cramer now advises caution due to volatility and a recent 25% stock drop. Corning's Q2 optical business revenue grew 32% to $2B, with enterprise sales up 65%. Cramer expects the stock to decline further, despite a recent 3% rise.
How this was made
The 30-second read
Why it matters
Earnings beat and large equity raise provide new data points for traders to reassess valuation.
Market read
The earnings release and capital raise are material news for GLW, influencing short‑term price action.
What to watch
Potential slowdown in smartphone demand and memory price pressures could hurt future margins.
Background
Corning has been highlighted by Jim Cramer, shifting from praise to caution, reflecting market sentiment volatility.
Ticker impact
Corning reported Q2 revenue up 17% and announced a $2 billion equity raise, providing fresh earnings data and capital‑raising news.
Potential short‑term pullback as investors weigh dilution against earnings beat.
Earnings beat suggests upside, but a $2B raise introduces supply pressure; market reaction likely mixed.
Market effects
Positive for optical communications and data‑center glass segment, but equity raise may signal funding needs.
U.S. tech hardware sector may see modest volatility.
Limited to glass and telecom equipment markets worldwide.
Counterpoint
Despite earnings beat, the dilution could outweigh growth, making a short position viable.
Key entities
- companyCorning Incorporated
Glass technology products manufacturer.
- personJim Cramer
CNBC host influencing retail sentiment.
