This Beaten-Down Tech Stock Could Explode in the Long Run
Ciena's (NYSE: CIEN) year went from bad to worse after the release of its fiscal 2022 first-quarter results on March 7, as the company's numbers weren't as strong as Wall Street was expecting.
Share prices of the optical networking specialist cratered 11% after the results, and the stock has now lost over 22% of its value so far this year. Ciena blamed supply-chain disruptions caused by the spread of the omicron variant of the coronavirus earlier this year, as well as the global chip shortage, for its below-par performance.
Interestingly, the company pointed out that the demand for its networking products remains strong because of the growth in network bandwidth, the faster adoption of cloud computing, and the growth in data traffic.
Source Fool.com
