Corning Collaborates With Apple For Advanced iPhone 15 Glass, Reports Q3 Sales Decline
Portfolio Pulse from Anusuya Lahiri
Corning Inc reported a Q3 FY23 core sales decline of 6% YoY to $3.46 billion, missing the consensus of $3.5 billion. The company also reported collaboration with Apple to deliver durable color-infused glass for the iPhone 15. Corning's Q4 outlook sees core sales of $3.25 billion and core EPS of $0.37 - $0.42.
October 24, 2023 | 2:24 pm
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NEGATIVE IMPACT
Corning's Q3 sales declined and missed consensus estimates. The company also forecasts lower Q4 sales.
Corning's Q3 sales decline and lower Q4 forecast could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Apple is collaborating with Corning for the glass of iPhone 15.
The collaboration with Corning for iPhone 15 glass could be positive for Apple, but it's not clear how significant the impact will be.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50