hence the stock price decline. Corning themselves do not value it...yet. Maybe in single digits. Not much of a floor with the small dividend. Not in the best of markets right now. I see absolutly no reason to buy the stock. I would at 1/2 this price though.
Best of luck but you would be better off owning a REIT paying a huge dividend like NLY.
Buybacks unlikely. Using overseas cash will trigger a tax event at 35%. Expanding over seas is the best bet for GLW with a socialist Washington. GLW will continue to increased liabilities on the balance sheet to fund US operations. True corporations have a ton of cash, but not here in the US.
Because, if you saw their capital spending projections, they want to use a lot of their cash on expanding in China and sending jobs overseas. Not worried about the American stockholder - we don't contribute to Corning, why should they contribute to us.