Corning , the world's largest maker of liquid-crystal-display glass, said Friday demand is poised to rebound in the second quarter as manufacturers begin to replenish supplies. And it expects overall demand to improve in the second half of the year.
James Flaws, the company's chief financial officer, said in prepared remarks the company is targeting revenue of $5 billion for the full year. Analysts projected $4.7 billion in full-year revenue, according to a Thomson Reuters poll.
We found the news to be hopeful if not downright optimistic. So we invited Flaws onto the show.
He told us despite what you might expect in this economy, “a lot of people around the world are still buying flat panel TV’s.” And he adds, “retail demand for TVs and notebooks is stronger than investors had feared.”
And he says demand is picking up right now -- just in the first few weeks of the year. That might seem like crazy talk but Flaws tells us, “we have to call it like we see it.”
Is Corning a buy on the news?
I like the story and I love the optimism, says Guy Adami, but I’m afraid in 3 months he might say we were too optimistic. In other words, don’t rush in.