Move to 5G a Big Deal, Corning CEO Says; Also Optimistic on Tax Changes
Corning views 5G as having great potential for the company, said CEO Wendell Weeks on a Wednesday earnings call. “If truly 5G as it is defined by the industry becomes the standard way to do wireless connectivity, then we are…
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looking at a very significant secular driver of our product.” The migration to 5G “perhaps” will be the most significant development “that we have seen in our long and storied history in this business,” Weeks said. It's “too early to make a call on what exact architectures will be used,” he said. “The only question is the size, scale and timing of that momentum.” Weeks thinks “it’s easy to be confident long term” about the prospects for tax changes under the Trump administration. “The current tax policy of the United States is not stable over time,” said Weeks. He thinks bad tax policy "leads to things that are not good for our economy or jobs, and that ultimately that’s going to get fixed.” “What I am much less confident about is how the political math works in any given year, so I think calling timing on that one is above my paygrade."