Last quarter, investors sold Ciena’s stock hard on a solid print before ripping it straight higher to new all time highs. CIEN is +8100bps vs. the index since then, and trading at 86x forward earnings despite historical ranges between 12-30x. Take a look at just how hot CIEN is into the print:
In a few notable places, strength into the print for AI infra names hasn’t mattered whatsoever. Will that also be true here? The table below outlines Consensus expectations for benchmarking - given the growth rates you see, I’m not sure we need a blowout beat for the stock to work but rather evidence these earnings are sustainable:
