Corning Shares Surge on Apple Partnership, Analysts See 'Future Upside'

Corning shares surged over 5% premarket after Apple announced a $2.5 billion commitment to produce 100% of its iPhone and Apple Watch cover glass at Corning's Kentucky facility. Bank of America sees "future upside" for Corning, with potential growth in the foldable cover glass market. The deal strengthens the partnership between the two companies and includes the construction of the world's largest smartphone glass production line. Corning's local workforce will grow by 50%.

Corning shares surged over 5% premarket on July 2, 2025, following Apple's announcement of a $2.5 billion commitment to produce 100% of its iPhone and Apple Watch cover glass at Corning's Kentucky facility. The deal marks a significant shift towards domestic production, aligning with broader U.S. efforts to repatriate critical manufacturing [1].

The partnership between Apple and Corning, which began in 2007 with the original iPhone's Gorilla Glass, has been pivotal in enhancing device durability. Apple's new commitment will see Corning's Harrodsburg plant scale up to meet global demand, potentially creating hundreds of high-tech jobs in the region [2]. The facility will house the world's largest smartphone glass production line, with Corning's local workforce growing by 50% [1].

Apple's investment is part of its broader plan to spend and invest over $600 billion in the U.S. economy over the next four years, including the newly announced American Manufacturing Program (AMP) [1]. The deal underscores Apple's commitment to onshoring production and manufacturing more of its critical components in the United States.

Bank of America sees "future upside" for Corning, with potential growth in the foldable cover glass market. The deal strengthens the partnership between Apple and Corning, setting the stage for further innovation and expansion in advanced materials and manufacturing platforms [2].

References:
[1] https://www.apple.com/newsroom/2025/08/apple-corning-to-manufacture-all-iphone-apple-watch-cover-glass-in-kentucky/
[2] https://www.webpronews.com/apple-and-corning-invest-2-5b-in-us-made-iphone-watch-glass-by-2026/