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The fall wiped out more than $23 billion in market value of the company.
Although Corning beat second-quarter Wall Street expectations for both earnings and revenue, its forward-looking guidance underwhelmed investors.
The company projected third-quarter core sales of $4.9 billion to $5.0 billion, falling slightly short of analyst forecasts.
Corning's stock had more than doubled over the past year due to heavy artificial intelligence infrastructure hype. This rapid surge led analysts to warn of an unsustainable and "onerous" valuation, leading to a pullback.
Corning Incorporated is a major American technology company that specializes in specialty glass, ceramics, and optical physics. Corning is famous for creating products like Gorilla Glass for mobile phones, optical fiber, and laboratory equipment.
Before the July 28 crash, the company's market capitalisation stood at $126.21 billion.
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