Corning shares hit a new 52-week low yesterday, falling 8% after reporting second-quarter results that failed to extinguish investor qualms about the future for the world's leading producer of LCD glass. Revenue for the quarter missed analyst expectations by 5%, while earnings were in line with expectations. Management reiterated its belief that pricing pressures will remain subdued within the cash-cow display technologies segment. The seasonally strong back half of the year will reveal if those headwinds are diminishing. In the following video, editor and analyst Brenton Flynn runs through the results and future outlook for Corning.
Corning's Gorilla Glass has become somewhat of a household name. A lot of that has to do with the pervasive use of the glass by smartphone producers like Apple. After offering its own disappointing earnings report ahead of the impending release of the iPhone 5, the stakes have never been higher for the company. If you're looking for a recommendation on how to play Apple, along with continuing updates and guidance on the company whenever news breaks, we've created a brand-new report that details the key opportunities and threats facing Apple. It also comes with a full year of updates, so click here now to get started.
The article Is Corning a Broken Stock? originally appeared on Fool.com.
Brenton Flynn has no positions in the stocks mentioned above. The Motley Fool owns shares of Apple, Best Buy, and Corning. Motley Fool newsletter services recommend Apple, Corning, and hhgregg. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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