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Corning Shares Rise as Apple Scraps All-Glass iPhone Plans

Guavy AI Editorial Team
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AAPL
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Shares of Corning (GLW) rose by 0.63% to $166.72 after Apple announced it would no longer pursue its ambitious all-glass iPhone project. The tech giant had planned to unveil a special 20th anniversary model in September 2027, priced at around $2,060.

The move prompted Jefferies to lower its rating for Apple and reduce its projection for the company's iPhone average selling price compound annual growth rate from 9.0% to 6.8% over the fiscal 2026 through fiscal 2031 period.

Corning delivered strong second-quarter results, beating analyst expectations with earnings per share of $0.78 and revenue of $4.74 billion, representing a 17.1% year-over-year increase.

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