Valued at a market cap of $64.6 billion, Corning Incorporated (GLW) is a global technology company that specializes in materials science and advanced glass, ceramics, and optical physics solutions. The Corning, New York-based company operates across various industries, including display technologies, optical communications, environmental technologies, specialty materials, and life sciences.

Companies worth $10 billion or more are typically classified as “large-cap stocks,” and GLW fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the electronic components industry. The company’s innovative products, such as Gorilla Glass for consumer electronics, optical fiber for telecommunications, and advanced glass substrates for displays, position it as a leader in enabling cutting-edge applications across multiple sectors.

This electronic components manufacturer touched its 52-week high of $77.08 in the last trading session. Shares of GLW have rallied 49.6% over the past three months, considerably outperforming the Dow Jones Industrial Average’s ($DOWI) 7.6% return during the same time frame.

In the longer term, GLW has soared 80.3% over the past 52 weeks, significantly outpacing DOWI's 12.8% uptick over the same time period. Moreover, on a YTD basis, shares of GLW are up 58.8%, compared to DOWI’s 8.4% rise.

To confirm its bullish trend, GLW has been trading above its 200-day moving average over the past year, with slight fluctuations, and has remained above its 50-day moving average since early May. 

On Jul. 29, shares of GLW surged 11.9% after its strong Q2 earnings release. Primarily due to robust growth in its key optical communications segment, the company’s adjusted revenue improved 12.2% year-over-year to $4 billion, surpassing consensus estimates by  5.2%. Moreover, higher net income across all its reportable segments contributed to an impressive 27.7% rise in its core EPS to $0.60, which also topped the analyst expectations by 5.3%. Supported by favorable secular trends and its ‘More Corning’ content strategy, GLW continued to capture profitable growth in line with its recently upgraded Springboard plan.

Corning has also outpaced its rival, TE Connectivity plc (TEL), which gained 47.3% over the past 52 weeks and 48.6% on a YTD basis. 

Given GLW’s recent outperformance, analysts remain highly optimistic about its prospects. The stock has a consensus rating of "Strong Buy” from the 13 analysts covering it. While the company is trading above its mean price target of $71.08, its Street-high price target of $84 suggests an 11.3% premium to its current price levels.