The company that made the glass for Thomas Edison’s first lightbulb has gone through dozens of transformations over its 168-year history and is currently going through another one. As Corning’s revenue from TV manufacturers and wireless carriers shrinks it has been forced to come up with an alternative source of revenue to make up for their declining sales in other sectors. Luckily for Corning their product Gorilla Glass has been making up for their losses in other sectors as it is a key product in smart phones, tablets and smart screens in cars. As the demand for strong, shatterproof glass in phones, tablets and cars continues to grow, Gorilla Glass has Corning well positioned to take advantage. Apple recently announced a $250 million investment in Corning from their Advanced Manufacturing Fund.
From Jeff Auxier (Trades, Portfolio)'s third-quarter 2019 commentary.
