Gorilla Glass Maker, Corning Glass is on Fire !
Ever since Apple introduced brand new iPhone 8, 8 Plus and iPhone X with glass installed on both the back panel and the front screen the sales of Corning Gorilla Glass exploded. First of all new iPhones are using twice as much glass than the previous models for front and back. Second, people now were breaking twice as much glass on their new iPhones than before since now they have to replace the back glass panel as well if cracked.
Case in point, I personally bought iPhone X with an expensive $50 case for protecting the phone from drops. The screen of my iPhone is still in great shape, but 1 unfortunate drop last week shattered the back glass panel on my iPhone and now I need to replace it at $150 a pop which I did not have to worry about on iPhone 7 and 6.
In other words, the latest Apple fashion statement by covering their last line of iPhones with glass front and back noticeably increased Gorilla glass sales which caused the stock to jump over 11%, today, July 25, 2018 after reporting strong 68% growth in earnings before the market as well as 10 percent increase in revenues.
GLW in downward trend: price dove below 50-day moving average on April 10, 2024
GLW moved below its 50-day moving average on April 10, 2024 date and that indicates a change from an upward trend to a downward trend. In of 46 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on April 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on GLW as a result. In of 93 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The 10-day moving average for GLW crossed bearishly below the 50-day moving average on April 15, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GLW declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where GLW's RSI Oscillator exited the oversold zone, of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 10 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GLW advanced for three days, in of 307 cases, the price rose further within the following month. The odds of a continued upward trend are .
GLW may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 204 cases where GLW Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.289) is normal, around the industry mean (3.248). P/E Ratio (45.456) is within average values for comparable stocks, (30.445). Projected Growth (PEG Ratio) (1.101) is also within normal values, averaging (1.862). Dividend Yield (0.036) settles around the average of (0.026) among similar stocks. P/S Ratio (2.109) is also within normal values, averaging (11.232).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. GLW’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. GLW’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 78, placing this stock worse than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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General Information
a manufacturer of specialty glass and ceramics
Industry ElectronicComponents