Corning Inc. (NYSE: GLW) has outperformed Nvidia (NASDAQ: NVDA) in 2026, delivering a 44% return compared to Nvidia's 16%. Corning, a 175-year-old glass manufacturer, has become a key player in the artificial intelligence boom thanks to its fiber-optic cables for data centers. The company's optical connectivity solutions, including the Multicore Fiber (MCF) cable, are crucial for the transition from copper to fiber-optic cables in data centers, offering faster processing speeds and energy efficiency.
Corning's revenue growth is accelerating, with third-quarter 2026 revenue reaching $5.1 billion, up 19% year over year. The optical communications segment contributed $2.4 billion, a 44% increase. AI-related sales grew by over 100% year over year, driving significant momentum. The company expects to achieve $30 billion in annualized revenue by the end of 2028 and $40 billion by the end of 2030.
Despite its high price-to-earnings (P/E) ratio of 40.6, Corning's stock could be a great long-term buy. Wall Street estimates suggest earnings could grow to $4.40 per share in 2027, placing the stock at a forward P/E of 28.7. The company's strong third-quarter results and bullish forward guidance highlight its potential for further growth.
Before investing, consider that The Motley Fool Stock Advisor analyst team did not include Corning in their top 10 stocks for current investment. The team's past recommendations, such as Netflix and Nvidia, have yielded significant returns, underscoring the importance of a long-term view when considering Corning stock.