Corning (GLW) Sets Up Manufacturing Campus in North Carolina
Corning Incorporated GLW recently unveiled an optical cable manufacturing campus in North Carolina to boost production and meet the rising demand for fiber broadband networks in rural regions. Corning has operated in Hickory, NC, for 40 years and the newly-opened campus with two new facilities will create hundreds of jobs for locals and enhance the region's commercial outlook. Since 2020, Corning's investment has reached $500 million in fiber and cable, reflecting the company’s commitment to innovate and accelerate digital transformation in the country.
Digital inequality remains a barrier even today, as access to fast and reliable connectivity is still limited in some rural and remote areas. As the country aims to move toward a more equal and progressive society, the digital divide remains a significant obstacle to socioeconomic inclusion. There is emerging demand in these areas for better connectivity. Corning’s new facility intends to meet this requirement and support underprivileged communities by enhancing domestic production capacity.
The new manufacturing hub will enhance network operators’ capabilities to provide high-speed, affordable fiber broadband networks in rural areas. Access to high-speed network connectivity will bring new opportunities for locals. It will also improve their access to online education, health care, and financial services and bridge the digital divide. Corning’s continuous innovation and acceptance of its solution among customers accentuate the robustness of the company’s optical communication portfolio.
Corning is benefiting from improved demand and commercialization of its innovations. Its capabilities are becoming increasingly vital to diverse industries. Both consumers and enterprises are using the network and there is tremendous demand for quality networking. The propensity to consume video content continues to grow, creating the need for faster data transfer. Since optical networks are more efficient and most existing networks are copper-based, the demand for optical solutions is solid. It has several products focused on the data center with a portfolio of optical fiber, hardware, cable and connectors that helps it create optical solutions to meet evolving customer needs.
The global leader in optical communications is experiencing solid growth in 5G, broadband and cloud computing. Its high-performance cellular solutions help network operators bring reliable 5G connection indoors with small-cell radio nodes that are easy to install and cost-effective. Corning is witnessing strong momentum for its premium cover materials and advanced optics products, driven by strength in the IT, mobile device, and semiconductor markets. It is a leading innovator in the glass substrate industry and has been developing formulations that are not only suitable for imparting superior picture quality but also for taking care of their effects on the environment. The company’s fusion technology reduces glass thickness, enabling panel manufacturers to do away with thinning costs usually necessary for making slimmer, lighter and more power-efficient consumer devices. Also, the company’s Iris glass presents significant growth opportunities.
The stock has lost 8.6% in the past year against the industry’s fall of 2.4%.
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Corning currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Viavi Solutions Inc. VIAV, carrying a Zacks Rank #2 (Buy), delivered an earnings surprise of 9.10%, on average, in the trailing four quarters. In the last reported quarter, it delivered an earnings surprise of 27.27%. Viavi is a leading provider of network test, monitoring and service enablement solutions to diverse sectors across the globe. The product portfolio of the company offers end-to-end network visibility and analytics that help build, test, certify, maintain and optimize complex physical and virtual networks.
Viavi boasts a comprehensive product portfolio that offers end-to-end network visibility and analytics. The company’s wireless and fiber test solutions are in the early stages of a multi-year investment cycle, fueled by the transition of OEMs and service providers to superfast 5G networks.
Arista Networks, Inc. ANET, sporting a Zacks Rank #1, delivered an earnings surprise of 14.17%, on average, in the trailing four quarters. Earnings estimates for ANET for the current year stand at $5.79 per share. Arista provides cloud networking solutions for data centers and cloud computing environments. The company offers 10/25/40/50/100 Gigabit Ethernet switches and routers optimized for next-generation data center networks.
Arista continues to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. It is well-poised for growth in data-driven cloud networking business with proactive platforms and predictive operations. Arista has introduced network observability software, DANZ Monitoring Fabric (DMF), on its switching platforms for enterprise-wide traffic visibility and contextual insights.
Juniper Networks, Inc. JNPR, carrying a Zacks Rank #2, delivered an earnings surprise of 1.55%, on average, in the trailing four quarters. It is witnessing strong momentum across its core industry verticals and is confident of its long-term prospects. Investments in customer solutions and sales organizations have enabled the company to capitalize on the solid demand across end markets.
Juniper is a leading provider of networking solutions and communication devices. The company develops, designs and sells products that help build a network infrastructure for services and applications based on a single Internet protocol network worldwide. The company caters to the networking needs of enterprises, public sector organizations and service providers across the globe.
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