Coherent Jumps 10% on PhotonLink Push and Bernstein’s Outperform Start; Lumentum Rises 9%, Corning Advances 3%

Corning (GLW) secured a $3 billion fiber supply contract with AT&T, extending through 2030. The deal supports AT&T's broadband infrastructure expansion and positions Corning as a primary fiber supplier. The agreement may impact Corning's manufacturing capacity and employment, while investors weigh its financial implications.

AT&T (T) has secured a $3 billion multi-year fiber supply deal with Corning to support its plan to reach 60 million fiber locations by 2030. The agreement ensures U.S.-made fiber cable, aiding AT&T's long-term planning for broadband expansion. AT&T, with a $167.7 billion market cap, focuses on fiber for high-speed connectivity, contrasting with rivals' satellite-based offerings.

AT&T signed a $3B multi-year deal with Corning for fiber optic cables to reach 60M locations by 2030. AT&T added 646K internet subscribers in Q2, with 367K on fiber. This follows a 2022 $1B agreement and AT&T's investment in Corning's Arizona facility.

Bernstein identified top networking and communications equipment stocks, led by Celestica, with a $520 price target and 46% upside. Lumentum, Coherent, and Ciena also received Outperform ratings with respective price targets and upside potential. Bernstein cited growth opportunities in data center infrastructure, optical modules, and AI hardware.

AT&T signed a multi-year, $3B deal with Corning for fiber and cable supply to support its network expansion. The agreement ties Corning's fiber capacity to AT&T's goal of reaching 60M Americans with fast internet by 2030. Corning projects $29.4B revenue and $5.5B earnings by 2029, with some analysts expecting higher figures. The deal reinforces demand for Corning's optical capacity but does not eliminate risks like trade tensions or competition.

AT&T and Corning agreed to a multi-year deal valued at over $3 billion to expand fiber networks in the US. The agreement aims to enhance broadband infrastructure.