Corning shares rise despite Apple canceling all-glass iPhone model

Apple’s decision to cancel its planned all-glass iPhone model appears to be a modest negative for Apple’s long-term pricing strategy but a positive read-through for Corning, whose glass supply relationship with Apple remains intact. Jefferies said supply-chain checks indicate the all-glass 20th anniversary iPhone was scrapped because of poor production yields, and it cut its estimate for Apple’s iPhone ASP CAGR over FY2026-FY2031 to 6.8% from 9.0%. Despite that, Corning shares rose as investors focused on the broader partnership announced in August 2025 to make 100% of iPhone and Apple Watch cover glass in Kentucky. The news suggests Apple may delay some premium design ambitions, but Corning still benefits from being a key materials supplier in Apple’s device ecosystem.