Corning Could Hit $144 by End of 2026 — BofA Sees $10.3B Scale-Out Revenue as the Catalyst

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Corning (GLW) posted full-year 2025 Optical Communications sales of $6.3B, up 35% year-over-year, with enterprise data center revenue growing 61%, while Bank of America projects the company’s scale-out revenue opportunity will reach $10.3B by 2030. Corning locked in a multiyear agreement with Meta worth up to $6B and maintains a $2.5B Apple commitment for cover glass, with core operating margin reaching 20.2% in Q4 2025.
Bank of America raised its price target to $144 based on Corning’s dominance in AI data center optical interconnect infrastructure, where the company supplies high-density fiber connecting servers and GPUs across hyperscaler networks expected to expand throughout the decade.
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By Joel South Published Mar 12, 3:07PM EDT

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Corning Could Hit $144 by End of 2026 — BofA Sees $10.3B Scale-Out Revenue as the Catalyst — © monsitj / iStock via Getty Images

Corning (NYSE:GLW) has been one of the market’s standout performers over the past year, with shares up nearly 187% over the past 12 months and nearly 44% year-to-date. The stock touched a 52-week high of $162.10 before pulling back, and currently trades near $130.07.

Wall Street’s consensus sits at $126.46 analyst target, with most analysts carrying a moderate Buy or Hold posture. Bank of America stands apart, raising its target to $144 from $120. But can GLW realistically reach $144 by end of 2026?

BofA’s $144 GLW Prediction

Bank of America’s bull case centers on Corning’s position inside the AI data center, specifically the “scale-out” layer connecting servers and GPUs with high-density optical fiber. BofA sizes the total scale-out revenue opportunity at $10.3 billion by 2030, nearly four times its current FY2025 estimate for Corning’s scale-out revenues. On an earnings basis, BofA translates that opportunity to approximately $2.42 in EPS by 2030. With Corning already executing ahead of its own internal targets and locking in long-term customer commitments, BofA sees the compounding runway as unusually visible for a large-cap industrial technology company.

Key Drivers of GLW Stock Performance

$10.3B Scale-Out Revenue Opportunity: BofA’s $10.3 billion scale-out revenue estimate for 2030 is anchored by surging AI infrastructure spending. Corning’s Optical Communications segment posted full-year 2025 sales of $6.3 billion, up 35% year-over-year, with the enterprise data center portion growing 61% for the full year. This is durable, infrastructure-grade revenue tied to a decade-long AI buildout.
EPS Compounding to $2.42 by 2030: BofA’s EPS target of $2.42 by 2030 reflects operating leverage already visible in the financials. Core operating margin reached 20.2% in Q4 2025, up 390 basis points over two years, while adjusted free cash flow nearly doubled to $1.72 billion for full-year 2025. EPS growing faster than revenue is the compounding profile long-term investors want.
Locked-In Customer Commitments: Corning has structured multi-year deals that de-risk execution. “Just yesterday, we announced that Corning and Meta entered a multiyear agreement up to $6 billion,” CEO Wendell Weeks said on the Q4 earnings call. The Apple $2.5 billion commitment for 100% of iPhone and Apple Watch cover glass adds a second anchor, with prepayments and long-term commitments providing revenue assurance well into the decade.

What Will It Take for GLW to Reach $144?

With 857.9 million shares outstanding and a $144 price target from BofA, the stock needs to sustain execution on its upgraded Springboard plan, which targets $6.5 billion in incremental annualized sales by end of 2026. Key conditions: continued hyperscaler capital spending on AI infrastructure, successful ramp of new high-density fiber products, and margin stability at or above the 20% core operating margin threshold achieved in Q4 2025.

The primary risk is valuation compression if AI infrastructure spending decelerates or if Broadcom-style commentary about optical demand spooks the market again. Still, with long-term customer contracts, a transforming financial profile, and a scale-out opportunity BofA values at $10.3 billion, the gap between the Street consensus target of and BofA’s $144 target reflects meaningfully different views on how the scale-out opportunity will compound through 2030.