Corning Inc.

Corning has come a long way from its historical roots in the glass business. The secret has been a revolutionary sustained focus on research and development. The company's immensely profitable fiber optic cable business had its roots in research the company conducted in 1970. Despite the collapse of fiber optic cabling after the Dot Bomb, the company's attention to research yielded technologies that have made Corning the world's pre-eminent manufacturer of glass for liquid crystal displays.

Now that the dust has finally settled after the last great technology bust up, the next great infrastructure build out is finally getting under way. With the advent of new mass-market technologies that really use up the bandwidth, Corning is poised to see renewed growth.

Even if Corning's technology business were to evaporate, the corporation's legacy glassware division also has substantial value.

Corning is ready to take advantage of the growth of Internet 2.0, but not completely dependent on any specific technology taking off. Wireless Internet access is a long-term threat, but ultimately the inherent insecurity of anything other than a physical cable used to transmit communications ensures Corning's eventual profit. Stock symbol GLW is worthy of the allocation of fresh money. Even investors already holding the stock should consider increasing their investment.