[ad_1]
CNBC’s Jim Cramer predicts Corning stock could go much higher as the 174-year-old glass maker further capitalizes on alliances with major tech players, such as Nvidia and Apple . “Talk about a hot stock,” Cramer said during ” Squawk on the Street ,” acknowledging this year’s big run in shares, which hit 25-year highs Friday. “[This] one I think could be a rocket ship.” Corning makes glass for smartphones, computers, and all kinds of other device screens, as well as data center and communications wiring. The New York-based company’s products are also used in many other ways, such as in emission control systems and research labs around the world. “Corning is a remarkable stock because it is deep in the data centers,” Cramer said. “Yet, people would rather own every other thing. The plumbing, the air conditioning. They should maybe own Corning for the data center.” Cramer pointed out that Corning makes the specialized cabling to support Nvidia’s AI chips. Demand for these, along with other offerings like Corning’s specialty glass products, plays a critical role in powering data centers, as big technology companies spend billions upon billions of dollars to outfit them to handle AI workloads. Corning’s financials also benefit from a deepened partnership with Apple as the iPhone maker looks to push more of its manufacturing into the U.S. In August, Apple detailed plans to spend $2.5 billion to fund projects with Corning, which makes glass for the iPhone and Apple Watch. “We’re going to dedicate 100% of this factory [and] triple its production, all aimed at the newest generations of Apple phones,” Corning CEO Wendell Weeks told Jim on Friday from Corning’s facilities in Harrodsburg, Kentucky. Alongside Weeks and Cramer, Apple CEO Tim Cook said, “Next year, every iPhone sold in the world … and every Apple Watch will contain glass from this factory.” Corning shares on Friday reached their highest levels since the fall of 2000. This continues a heroic 2025 run for the stock, up 60% year-to-date versus the S & P 500 ‘s roughly 12% advance. Apple and Nvidia’s performances, both holdings in Cramer’s Charitable Trust, pale in comparison. Apple shares have lost about 7% since the start of 2025, while Nvidia has jumped more than 32%. Cramer’s Trust holdings make up the CNBC Investing Club’s portfolio. GLW AAPL,NVDA YTD mountain YTD peformance
[ad_2]
Source link
