We're locking in triple-digit profits on an AI winner at record highs
We are selling 50 shares of Corning at roughly $227.36. Following the trade, Jim Cramer's Charitable Trust will own 500 shares of GLW, decreasing its weighting in the portfolio to about 2.9% from 3.15%. We're selling...
$4,200-$4,600 — Gold (GC) Where to settle in June?
Breaking news from the markets: We are selling 50 shares of Corning at roughly $227. Following the trade, Jim Cramer's Charitable Trust will own 500 shares of GLW, decreasing its weighting in the portfolio to about 2. We're selling some shares of Corning into strength on Thursday as the stock climbs to new record highs.
This trim will lock in a huge gain of about 168% on stock purchased in October 2025 — far outpacing the roughly 10% gain in the S & P 500 over the same period. Memory chipmaker Micron's monster quarter is rightfully getting all the market's attention Thursday, with shares up over 13% in the session. However, Corning's more than 10% gain is giving Micron a run for its money.
Economic Details
And for the week, shares of the glassmaker are the top-performing technology stock in the S & P 500, up about 16%. It's unclear to us what the exact catalyst is behind Corning's blistering move. We've seen some stories note that it could be related to an interview with CFO Edward Schlesinger, where he said the company is considering South Korea as a hub for semiconductor glass substrate production used in advanced packaging.
But we're not so sure this is a strong enough reason to justify the magnitude of these gains. Our discipline is to take some shares off if we can't properly explain why the stock is up this much in a couple of days. With our first Corning sale well above $200 now on the books, we're raising our price target to $245 from $200.
(Jim Cramer's Charitable Trust is long GLW. See here for a full list of the stocks. ) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Analyst Views
Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
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Financial markets are tracking the development closely as investors assess the likely impact.
