Billionaire David Tepper Just Sold Out of Adobe and Bought This Artificial Intelligence Value Stock Instead

Core Insights - David Tepper, a prominent investor, has shifted his portfolio by selling out of Adobe and investing in Corning, indicating a strategic move towards AI-related opportunities [3][5][6] Company Analysis - Corning is recognized as a leader in innovative glass materials, with its optical communications segment accounting for 35.3% of sales last year [7][9] - The optical segment has seen significant growth, driven by AI demand, with enterprise optical sales growing 93% in Q4 and 49% for the full year, reaching $2 billion out of$4.7 billion in total optical sales for 2024 [11][12] - Corning's "Springboard 2028" plan aims for $5 billion in incremental revenue by 2026 and$8 billion by 2028, with over half of these gains expected from the optical segment [13][16] - As of Q4 2024, Corning has already achieved an incremental revenue run rate of $2.4 billion, surpassing initial projections [14] - Corning's current valuation stands at 19.4 times 2025 earnings estimates, with a dividend yield of 2.45$18.6 billion in revenue by 2026 and $21.6 billion by 2028, with core earnings projected at$2.7 billion in 2026 and $3.2 billion in 2028 [16][17]