What Happened?
A number of stocks fell in the afternoon session after markets reacted to President Trump's threat to "completely obliterate" Iran's energy infrastructure and the critical Kharg Island hub. The ultimatum raised the specter of a total energy supply shock. Notably, Kharg Island handles 90% of Iran's crude exports. The escalating rhetoric, including potential ground force deployment to seize fuel hubs, drove a flight to safety.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Electronic Components company Corning (NYSE: GLW) fell 7%. Is now the time to buy Corning? Access our full analysis report here, it’s free.
- Energy Products and Services company Ameresco (NYSE: AMRC) fell 6.7%. Is now the time to buy Ameresco? Access our full analysis report here, it’s free.
- Engineered Components and Systems company Gates Industrial Corporation (NYSE: GTES) fell 5.4%. Is now the time to buy Gates Industrial Corporation? Access our full analysis report here, it’s free.
- Home Builders company Lennar (NYSE: LEN) fell 5.3%. Is now the time to buy Lennar? Access our full analysis report here, it’s free.
- Renewable Energy company Enphase (NASDAQ: ENPH) fell 6.3%. Is now the time to buy Enphase? Access our full analysis report here, it’s free.
Zooming In On Corning (GLW)
Corning’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 5.9% on the news that the stock's positive momentum continued as the company unveiled new AI-focused optical innovations and received positive analyst commentary on strengthening market demand.
At the OFC 2026 conference, Corning presented a new suite of products, including advanced multicore fiber and expanded-beam ferrules designed for AI data centers. The company also announced a collaboration with US Conec to use PRIZM® TMT optical ferrule technology, a solution that allows for more fiber connections in tight spaces. In response to these developments, analysts pointed to a strengthening demand cycle in the optical market.
Bank of America reaffirmed its Buy rating on the stock and raised its price target, noting a potential multi-billion dollar revenue opportunity by 2030. The broader market also experienced a relief rally, which contributed to the positive sentiment.
Corning is up 40.9% since the beginning of the year, but at $127.77 per share, it is still trading 20.4% below its 52-week high of $160.43 from February 2026. Investors who bought $1,000 worth of Corning’s shares 5 years ago would now be looking at an investment worth $2,930.
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