On July 2, Corning fell 3.23% in regular trading, trading at $211.61/share, with turnover of $1.058 billion. The decline was primarily driven by reports that Meta is planning to sell its surplus AI computing power to external customers, which the market interpreted as a signal that AI capital expenditure growth may decelerate.

This development triggered broad concerns over demand across the AI hardware supply chain, sending storage chip and optical communications stocks lower collectively. Micron Technology fell 3% and SanDisk dropped 2.5%, with Corning as a leading optical communications company bearing the brunt of selling pressure. In the Electronic Components sector, Coherent fell 4.82% and Vishay Intertechnology declined 4.50%.

Additionally, Corning faced significant technical correction pressure. The stock had previously surged on the back of its GlassBridge next-generation glass-based optical interconnect technology launch and FTSE Russell index rebalancing, accumulating substantial short-term gains. Combined with mid-year institutional fund rebalancing and concentrated profit-taking from earlier positions, pullback pressure intensified. Mizuho raised its target price for Corning to $270 on the same day, but the upgrade failed to offset the prevailing selling momentum.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)