Bullish options flow was detected in Corning stock (GLW) on December 9, 2019.

GLW stock with bullish options flow on December 9, 2019.

The best I can tell, traders are front-running the seasonally strong time of year for GLW stock.

There’s a 72% chance that GLW stock will rise by 10% between now and April 10, 2010 according to Financhill as seen here.

Back on October 29, 2019, Corning reported Q3 core EPS of 44c versus the consensus estimate of 39c. The company reported Q3 revenue of $2.9B versus the consensus estimate of $2.88B. “Corning is successfully taking actions to offset recent headwinds. At the same time, we remain confident in our strategy and continue to advance our long-term growth initiatives,” said Wendell P. Weeks, chairman, chief executive officer, and president. “Two recent announcements – an additional $250 million investment from Apple in Corning’s advanced manufacturing, as well as FDA approval of Valor Glass packaging for its first commercial use – are testament to our confidence in Corning’s long-term outlook.”

Apple is reportedly telling its supply chain partners to expect in excess of 100 million orders for the iPhone 12 next year, as reported by Digitimes.

For 2019, the iPhone 11 and iPhone 11 Pro is expected to sell around 80 million units. A jump to 100 million or more would represent a significant increase in sales demand. This level of customer interest is apparently fueled by the 5G ‘super cycle’ although the iPhone 12 is also expected to feature significant hardware upgrades compared to the last couple of years.

GLW stock has formed a beautiful candle over candle reversal of uptrend channel support on December 9, 2019.

finviz dynamic chart for  glw
Corning News From Google