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Friday, 01/19/2001

GLW - Corning

Company Description

Corning Incorporated (NYSE:GLW) is a global, technology-based corporation which operates in three broad business segments: Telecommunications, Advanced Materials, and Information Display. Each business segment contains internal concentrations that focus on specific branches of business development. Corning and its subsidiaries manufacture products at approximately 40 plants in 20 countries. The company is headquartered in Corning, New York.

For investors with an already broadly diversified portfolio, tech-heavy Corning may represent an attractive investment. The company is the leading provider of optical cable which is a crucial ingredient to the global build out of the World Wide Web.

The optical giant we know as Corning has quite a history in corporate America. The firm was actually established in 1851, at which time it specialized in the glass business. Occasionally, we'll here the modern optical giant still referred to as Glass Works - its corporate name before changing to Corning Inc. in 1989.

(source: Corning)

Reasons to Invest

The Corning of today has come a long way from manufacturing glass. The company plays a crucial role in the deployment of high-speed networks, which are intended to connect the world as never before. The build out of networks intended to carry near-perfect information flow in the blink of an eye is far from complete. Just ask the hundreds of millions of consumers who still surf the world wide WAIT with a dial-up modem. Or the small business owner who operates on the Web at the speed of grass growing.

It's for the simple reason that the Internet build out is far from complete that has attracted us to shares of Corning over the long-term. But before we go on, we must reiterate that only investors with an existing portfolio that is broadly diversified amongst several industry sectors should consider investing in shares of Corning. Because of the dynamic nature of technology, and the intense competition within the group, investors will experience much greater volatility in a stock such as Corning. However, because the risks are greater, the potential for reward is also greater. Financial markets reward their participants for taking on increased risks with greater profits.

If you have some extra capital ready to deploy, and are looking for an addition to an already diversified portfolio, Corning may warrant a closer look. Compared to its cohorts in the fiber optic sector, shares of Corning trade at a lower price-to- earnings multiple. What's more, the company actually pays a dividend. And how many high-tech companies pay a dividend? The fact that Corning actually pays a dividend is a testament to the company's long-term financial health.

DRIP Information:

Shares to Qualify = 1		Accept Foreign Accounts:Yes
Autoreinvestment  = Yes	Temper Enrollment Serv:Yes

Min/Max investment = $10 - $5,000/month
Reinvestment Fees: 
Dividend: 0   	   Cash:  0       Auto ReInvest: 0

Transfer Agent:

Computershare Investor Services LLC
Telephone: 1-800-255-0461

Mailing Address:
Computershare Investor Services
P.O. Box 1689
Chicago, IL 60609-1689
Internet address:

Fundamentals            Company Profile

Industry Group:    Fiber Optics   52-week high=$113.31
Annual Dividend Per Share=$0.24   52-week low =$ 42.81
Last earnings 09/00    est=0.32   actual=  0.35
Next earnings 01-24    est=0.28   versus=  0.17
                                  P/E = 97
               Analysts Ratings
                 Strong Buy =  9
               Moderate Buy =  9
                       Hold =  0
              Moderate Sell =  0
                Strong Sell =  0

Six Month Chart of GLW


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