I have spoken about Corning (GLW) enough to make you say, “enough already, we get it”.
GLW should be a core long term holding in your portfolio. They had a little hiccup in share price about 6 weeks ago (down to the mid $14′s) but have moved up about 25% since that point. It was kind of odd that they sold off, because Corning has made it a habit over the past few years to pre-announce in a way that essentially says that they are on track. That is what they did on 10/22/2009. After that announcement, they sold off about 7%-8% within a week.
I wish that I would have taken the opportunity to add to my current position. Let me reiterate why GLW is a great long term buy.
A leader in the following core sectors:
- Filtration Systems
Those three sectors alone are fantastic long term plays. We haven’t even seen the real impact of climate regulation and the continued move toward larger and flatter TV’s, monitors, and devices will allow the LCD division to generate plenty of cash. Let’s not forget about our constantly growing demand for bandwidth which ultimately leads to more fiber.
There are plenty of other markets that Corning is entering with plenty of R&D money. This is a smart long term play.