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(GLW) - Get Corning Incorporated Report

is a really good stock to buy here, Jim Cramer said on TV's Wall Street Confidential Web video Tuesday.

Corning, which he owns for his charitable trust,

Action Alerts PLUS, is in two very volatile businesses: glass and fiber business.

Cramer: Buy Corning

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Corning's competitors in the glass business have seen "great uptake" and Cramer said he still doesn't understand what went wrong with Corning last quarter, when the company beat estimates but still reported lower year-over-year EPS and failed to offer optimistic guidance. However, the fiber business is more important.

People will often get interesting data points from a company's clients, he said. Right now the most important client for Corning is


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Based on Verizon's quarter, the company is in the process of expanding its fiber optics service and there's a product that Corning has that was not shipping in volume in the previous quarter: bendable fiber, Cramer explained. This product "allows Verizon to go right after apartment buildings."

Although Verizon's buildout is "very spotty," the thing that people have to recognize from Verizon is that text and video messaging has produced "really unbelievable returns," he said. "Cell phones are generating a gigantic amount of money, so big that Verizon can raise its dividend, continue to buy back stock and invest in what I regard as being a major build-out against


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Further, "Corning is now a factor in that major build out, which is why I think Corning can now guide up for next year because they see visibility," Cramer said.

Corning, he said, is one of the most conservative companies he knows and he believes it is now in a position to have a multiyear move.

"Of the stocks I'm following between now and year-end, it can have the biggest move," Cramer said. "The bendable fiber story is a very compelling story." Plus, Corning has historically traded at a much higher multiple than where it is right here.

At the time of publication, Cramer was long Corning.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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