Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Written in the first person, as we would talk it through at a Berkshire lunch. All figures from Corning's Q2 2026 Form 10-Q (period ended June 30, 2026), company earnings releases, and market prices as of July 30, 2026. Warren: Corning is a company we genuinely admire and a stock we would not buy. Those two statements are not in tension — they are the whole discipline. This is a 175-year-old materials science house that co-invented low-loss optical fiber, makes the cover glass on most of the world's smartphones, and is currently the picks-and-shovels supplier to the AI datacenter boom. Revenue grew 17% last quarter.
Recent filings analysed: 8-K (2026-09-04), 10-Q (2026-07-29), 8-K (2026-07-28), 8-K (2026-05-15).
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