$Corning(GLW.US) Corning third-quarter sales fell slightly short of Wall Street expectations after reporting slower growth in its key fiber optics unit, sending its shares down more than 18% along with the broader optoelectronic sector. Sales in Corning’s Optical Communications segment rose 32% to $2.07 billion, compared with 36% growth in the prior quarter. The growth rate was also below the 81% increase recorded in the year-earlier period. Sales in the Solar segment nearly doubled to $438 million, although the business reported a quarterly loss following a maintenance shutdown and equipment upgrade. The company expects profitability to improve in the third quarter. Corning, a key supplier to Apple, has been hurt by softer global smartphone demand, which has weighed on volumes for its specialty glass products, particularly in display technologies. Overall, a weaker Q3 guidance coupled with the broader sector sell off has led to the dramatic dip. I do think long term wise they will rebound and reach new highs, but this is a short term risk that we as investors need to bear through. @Captain's Treasure