Corning (GLW) stock and CommScope Holding (COMM) have both outperformed at least 91% of stocks that Investor's Business Daily tracks. That helped both fiber-optics names earn a spot on Tuesday's IBD Screen Of The Day list of 49 names with Relative Strength At A New High.
Both names have relative strength lines that jumped and their stocks formed bullish chart patterns. One of these names just bolstered its partnership with Apple (AAPL) and is in a buy zone.
The iPhone maker said it will be investing $2.5 billion in Corning to make all of the cover glass for iPhones and Apple Watches in Corning's Harrodsburg, Ky., manufacturing facility.
The plant will house the world's largest and most advanced smartphone glass production line. The Apple investment is part of its larger plan to inject $600 billion into U.S. manufacturing through its American Manufacturing Program.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
Corning stock climbed 1.5% Monday and extended its winning streak to four straight sessions. In addition, it hit a level not seen since January 2001, and has gained around 40% so far this year.
The IBD MarketSurge Growth 250 name gapped up 11.9% in heavy volume after the company topped second-quarter earnings and sales estimates on July 29. Shares got another boost on the Apple investment news.
Shortly after, Corning stock hit the 20% profit zone from a 25-week long consolidation pattern with a 55.33 buy point. It traded tightly and formed a three-weeks-tight pattern with a 66.50 entry.
These patterns are best to add to an existing position, but can be used as an early entry to get in the stock. Monday's move higher put Corning shares in the buy zone up to 69.83.
The fiber-optics and specialized glass maker reported second-quarter earnings of 54 cents a share. Its sales growth has mostly accelerated over the last four quarters, after several declining periods. Its second-quarter revenue grew 19% to $3.86 billion.
Corning also gave a third-quarter profit and sales outlook that was above views. Analysts recently raised their full-year 2025 earnings estimates to $2.47 per share, or 26% growth. And full-year 2026 projections now call for $2.88 per share, for a 16% increase.
Its IBD Accumulation/Distribution Rating of A indicates heavy institutional buying over the last 13 weeks. And its 1.8 up/down volume ratio shows positive demand over the last 50 days.
Mutual funds have added shares for three straight quarters, according to IBD Stock Checkup. Lastly, Corning stock holds a 97 out of 99 possible IBD Composite Rating.
Corning also makes fiber optics for the telecommunications industry, specialized products for aerospace and defense companies and automobile emission control products.
Meanwhile, CommScope stock advanced around 1.9% Monday. Shares traded near the 16.12 buy point of a three-weeks tight pattern Monday, but closed below the entry.
Shares gapped up 86% in enormous volume on Aug. 4, after two positive news events. The IBD 50 name reported higher-than-expected second-quarter profit and revenue. Earnings soared to 44 cents a share from three cents a share a year ago. Net sales grew 31.7%.
On the same day, Amphenol (APH) announced it will buy CommScope Holding's connectivity and cable unit in a deal valued at about $10.5 billion. The sale is expected to close in the first half of 2026.
"With the proceeds from the recently announced transaction, we expect to repay all existing debt, redeem our preferred equity and add modest leverage to the remaining company," CommScope Chief Financial Officer Kyle Lorentzen said in the earnings release.
CommScope expects to have "significant excess cash" from the transaction and plans to pay a dividend to shareholders within 60 to 90 days following the closing of the proposed deal.
Its relative strength line spiked and is near a high. CommScope stock has gained around 94% so far in August and tripled so far this year.
It has an Accumulation/Distribution Rating of A+ and a hefty 2.7 up/down volume ratio. It also has a 99 Relative Strength Rating and a 98 Composite Rating.
CommScope makes network infrastructure for data centers, telecommunications and broadband networks.
Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
YOU MAY ALSO LIKE:
Discover Profitable Trades Each Day With MarketDiem. See How.
What To Do When Growth Stocks Backtrack To Test Buy Points
Learn How To Time The Market With IBD's ETF Market Strategy
Looking For Market Insights? Check Out Our Live Daily Segment | Stocks To Watch
Learn How To Buy Stocks | Stocks To Watch
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.