Corning (GLW) Gained from Robust Demand in Optical Communications
The London Company, an investment management company, released its first-quarter 2026 investor letter for its “The London Company Income Equity Strategy”. A copy of the letter is available to download here. In early 2026, US equities declined, with the Russell 3000 falling 4% and the S&P posting losses. The year began positively on a broad rally, but sentiment reversed sharply in March due to the Iran conflict. Market leadership shifted to a narrow, commodity-focused sector benefiting energy, agriculture, and hard assets. Large-cap growth suffered double-digit losses amid weakness in Big Tech and AI-related concerns in software. Sector dispersion was extreme; Energy surged over 35%, while Tech dropped over 9%. The London Company Income Equity portfolio returned 4.4% (4.2% net) this quarter, outperforming the 2.1% rise in the Russell 1000 Value Index, supported by stock selection and sector exposure. In this environment, the portfolio is positioned to participate in market upside, offering diversification and quality. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, The London Company Income Equity Strategy highlighted Corning Incorporated (NYSE:GLW) as a notable contributor. Corning Incorporated (NYSE:GLW) is a technology company that that operates through optical communication, display technologies, environmental technologies, specialty materials, and life sciences business segments. On June 9, 2026, Corning Incorporated (NYSE:GLW) closed at $173.94 per share. One-month return of Corning Incorporated (NYSE:GLW) was -15.77%, and its shares gained 244.78% over the past 52 weeks. Corning Incorporated (NYSE:GLW) has a market capitalization of $149.69 billion.
The London Company Income Equity Strategy stated the following regarding Corning Incorporated (NYSE:GLW) in its Q1 2026 investor letter:
"Corning Incorporated (NYSE:GLW) – GLW continues to outperform, driven by strong demand in Optical Communications, particularly for GenAI-related products. This demand is supporting higher pricing and margins while accelerating progress toward its medium-term outlook. The scale of hyperscaler partnerships is also enhancing longer-term visibility. We believe GLW's diversified portfolio of innovative, value-added products is well positioned to capitalize on secular growth trends across its end markets."
Corning Incorporated (NYSE:GLW) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 91 hedge fund portfolios held Corning Incorporated (NYSE:GLW) at the end of the first quarter, up from 85 in the previous quarter. While we acknowledge the potential of Corning Incorporated (NYSE:GLW) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
In another article, we covered Corning Incorporated (NYSE:GLW) and shared the list of stocks Jim Cramer discussed. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.