Back in mid-December, I thought Ciena (NYSE:CIEN) looked like a good buy-the-dip opportunity. Even with the post-earnings pullback on Thursday, the shares are still up about 15% since that piece, nearly tripling the return the S&P 500. I am bullish about the company's partnership with Ericsson (NASDAQ:ERIC) and its prospects for growing its global 100G share. At the same time, though, that is going to be a long-term process and I don't see as much undervaluation in the shares as I did three months ago.
Meeting The Targets For Fiscal Q1
Ciena reported 18% yoy revenue growth and met sell-side expectations, but results were down 9% sequentially. Converged Packet Optical revenue rose 39%, Packet Networking...
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