Corning's stock plunged 46% in July despite huge AI fiber deals with Amazon, Nvidia, and Verizon.

Corning's stock dropped nearly 46% in July 2026, one of its worst monthly declines, despite securing multibillion-dollar contracts with Amazon, Nvidia, and Verizon for AI fiber infrastructure. The selloff followed a slight revenue miss, even as the company's optical communications sales and profits surged, driven by growing AI demand. Corning expects strong future growth with a $20 billion annual sales run rate by end of 2026 and continued expansion through 2030. The July dip is seen as a market overreaction, with shares recovering and long-term contracts supporting optimism for sustained growth.