Glass cover and materials manufacturers Corning Inc. and Coherent Corp. are positioned to benefit from Apple’s newly announced $600 billion US investment plan, according to analysts.
The tech giant’s commitment was unveiled during a White House event on Wednesday, where Apple CEO Tim Cook appeared alongside President Donald Trump to highlight plans for increased domestic production and job creation over the next four years.
Both Corning and Coherent have long-standing ties to Apple’s US manufacturing operations and have now been named as strategic partners in this expanded initiative.
Morgan Stanley analyst Meta Marshall noted that Corning already produces 100% of the cover glass used in Apple’s iPhones and tablets, underlining the company’s foundational role in the supply chain.
“There are additional devices or form factors (e.g. bendable) that could be produced, expanding opportunity over time,” Marshall wrote, signaling future potential for growth beyond current product lines.
Corning gains on foldable iPhone prospects
Bank of America analyst Wamsi Mohan reiterated a “buy” rating on Corning stock in a research note released Wednesday, raising his price target to $75 per share — roughly 17% higher than its $63.98 closing price on the same day.
Mohan views Apple’s expanded investment as a catalyst that could further strengthen its relationship with Corning, especially as speculation grows around the launch of a foldable iPhone in 2026.
“The commitment strengthens GLW and Apple’s partnership which can lead to incremental upside for Corning,” Mohan wrote.
“Apple’s investment creates the opportunity for Corning to participate in the foldable cover glass market in the 2026 iPhone, which in our opinion was not contemplated in the original Springboard plan.”
Additionally, the analyst highlighted Apple and Corning’s plan to increase the manufacturing and engineering workforce at their joint Kentucky facility by 50%, as well as the opening of a new Innovation Center at the site.
These efforts suggest a longer-term collaboration centered on next-generation product development.
Corning shares rose nearly 2% on Thursday, hitting a fresh 52-week high. The stock has gained approximately 37% year-to-date.
Coherent also sees momentum, analysts more measured
Coherent shares also moved higher on the news, jumping almost 4% and reaching a new 52-week high.
The company’s stock is now up more than 17% for the year.
Although it was included as a strategic partner in Apple’s domestic investment initiative, analysts remain measured about the immediate financial impact.
Marshall expressed some caution regarding Coherent’s potential gains, noting that even if the company were to secure Apple’s entire business in its segment, the impact would still be relatively limited due to the company’s overall size and revenue structure.
Nonetheless, Apple’s aggressive investment and manufacturing plans could open new doors for its suppliers, particularly as the tech giant explores innovations such as foldable devices and other advanced form factors.
For Corning and Coherent, maintaining close ties with Apple may prove increasingly valuable in the years to come.
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