Top 12 AI Stock News and Ratings Dominating Wall Street

Page 6 of 11

6. Ciena Corporation (NYSE:CIEN)

Number of Hedge Fund Holders: 40

Ciena Corporation (NYSE:CIEN) is a leading provider of networking systems and software specializing in optical and routing systems, services, and automation software. On December 16, Citi analyst Atif Malik singled out two AI infrastructure framework stocks, one of which is Ciena Corporation. Deeming it a “top pick”, the firm is bullish on the stock and anticipates that the company will make the most out of the AI trend and the rebounding market heading into 2025. He stated that even though the overall market has been weak in 2024 due to economic concerns, inventory issues, and slowdowns in China, growth will rebound in 2025. The firm also anticipates the company to benefit from AI-related Data Center Interconnect (DCI) solutions. Data Center Interconnect (DCI) technology enables connecting two or more data centers over short, medium, or long distances by means of  high-speed packet-optical connectivity.

“We believe Ciena will benefit from a growing AI-related DCI opportunity with ZR/ZR+ optical products that are not included in optical transport market data. Our recently raised FY26 estimates reflect the stronger adoption of pluggables in and around the data center, an opportunity not captured in the company’s 6-8% growth target.”

Page 6 of 11