Morgan Stanley Analysis: Corning's AI Optical Demand Remains Strong, But Why Are Profits Lagging Behind?

TL;DR
· Morgan Stanley's report predicts Corning's Q2 revenue will slightly exceed expectations, but the EPS increase may only be $0.01 to $0.02.
· Demand for optical business is stronger than supply, and the market is more concerned about whether Q3 capacity and delivery can continue to accelerate.
· The $180 price target still bets on AI optics, but Solar costs and high valuations will limit stock price reactions.

According to a third-party earnings calendar, Corning is expected to release its Q2 2026 results before the market opens on July 28. Morgan Stanley's pre-earnings judgment is somewhat restrained: revenue may be slightly above market expectations, but profit elasticity is limited, maintaining an Equal-weight rating and a $180 price target.
Corning has recently been pushed to the forefront of the market by expectations related to AI optics, GlassBridge, and NVIDIA. On July 21, during trading, Corning's stock price was around $153.10, still having room to reach the $180 price target, but this stock can no longer rely solely on the

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