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Corning Forecasts Strong Q1 Results Amid AI Infrastructure Demand

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Corning (GLW.N) has projected first-quarter revenue and profit above Wall Street estimates, driven by robust demand for optical fiber products essential for AI infrastructure.

Key Highlights:

  • AI-Driven Growth:
    • Increased adoption of AI technologies fuels demand for optical fiber used in high-speed data transfer.
  • Government Support & Infrastructure Expansion:
    • Corning is expected to benefit from the $500-billion Stargate project, aimed at expanding network connectivity.
  • Financial Performance:
    • Q1 Revenue Forecast: $3.60 billion (vs. analyst estimate of $3.53 billion).
    • Q1 Profit Forecast: $0.48-$0.52 per share (midpoint above expected $0.48).
    • Q4 Revenue: $3.87 billion (beating $3.76 billion estimate).
    • Q4 Profit: $0.57 per share (vs. expected $0.56).
  • Segment Performance (Q4 2023):
    • Optical Communications Revenue: $1.37 billion (exceeding $1.29 billion estimate).
    • Display Technologies Revenue: $971 million (slightly below expected $976.7 million).
  • Market Reaction:
    • Shares rose 5.6% in premarket trading after the announcement.

Corning’s outlook underscores its strong position in AI-driven infrastructure, particularly in telecom and high-speed data transmission.

EU Files Complaint Against China Over High-Tech Patent Royalties at WTO

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The European Commission has filed a formal complaint with the World Trade Organization (WTO) against China, accusing the country of “unfair and illegal” practices regarding the setting of global royalty rates for European Union (EU) standard essential patents (SEPs). This dispute centers on the pressure placed on European tech companies, particularly those in the telecom sector, to lower their patent rates globally without their consent.

Key Points of the Complaint:

  • China’s Role: The European Commission claims that China’s courts have been empowered to set royalty rates for SEPs, a move that allegedly forces European companies to lower their rates, thus providing Chinese manufacturers with unfair access to European technology at lower costs.
  • SEPs and Impact on Tech: SEPs are patents that protect technologies essential for manufacturing products that meet specific standards, such as 5G technologies in mobile phones. Major European companies like Nokia and Ericsson are holders of these patents.
  • Chinese Response: China’s commerce ministry expressed regret over the EU’s decision to take the matter to the WTO, affirming that it would address the issue in accordance with WTO rules while safeguarding its rights and interests.
  • Previous Related Dispute: The case is connected to another ongoing WTO dispute filed by the EU in 2022, regarding Chinese anti-suit injunctions that hinder the ability of telecom patent holders to enforce their intellectual property rights in courts outside of China.

Steps Forward:

  • Consultations: The European Commission has requested consultations with China as the first step in WTO dispute resolution. If an agreement is not reached within 60 days, the EU may request the establishment of an adjudicating panel, which typically takes around 12 months to resolve.

Bezeq’s Pelephone Launches 5G-Only Packages to Boost Subscriber Base

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Bezeq Telecom’s mobile subsidiary, Pelephone, announced on Monday that it will begin offering 5G-only packages to encourage the adoption of its 5G network. The move positions Pelephone as the first Israeli provider to launch such technology. Subscribers with 4G-only devices will still have access to 4G-adapted packages, ensuring inclusivity.

The new 5G package, priced at 54.90 shekels ($15) per month, includes 1,000 gigabytes of data. Pelephone currently serves over 1.2 million 5G customers, making up 53% of its postpaid subscribers. The company also introduced the 5G MAX service in September, offering high-speed internet at crowded venues, which operates on its newly established independent 5G network core in collaboration with Ericsson. Pelephone’s 5G coverage now spans 80% of Israel.

Meanwhile, rival telecom operator Cellcom has launched its own 5G service, reaching its 1,000th 5G site. Cellcom’s new superfast 5G Pro package offers 1,500 GB of 5G data for 59.90 shekels per month, and all future 5G packages will be based on its advanced network.