Corning a Buy on Apple Verizon Marriage


I am getting long Corning (GLW) on the back of this deal. I believe demand for the Apple (AAPL) iPhone will pass even the most bullish estimates once it's selling on Verizon (VZ). Both Verizon and Apple have rallied greatly as well as Qualcomm (QCOM) in anticipation for this announcement, as this was a poorly kept secret.

This deal is also good for glass maker Corning Incorporated (GLW) which has been trapped in a tight range between 15-19 the last year. It looks as if the stock is finally trying to break out. I am long January 20 calls, as well as February 22 calls but I am looking longer term. I believe April 22/25 call spreads look very attractive at this point and plan on purchasing some for my portfolio on any weakness.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Communications EquipmentComputer HardwareInformation TechnologyIntegrated Telecommunication ServicesTelecommunication Services
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!