Bank of America expects optical networking equipment maker Ciena (CIEN) to grow revenue 35% to 40% in calendar year 2026. Analysts cite surging demand for AI infrastructure, which is outpacing the supply of necessary components.
Revenue from cloud providers is expected to increase 65% to 72%. The demand is swelling Ciena’s order backlog, which Bank of America expects to exceed $10 billion by the end of fiscal 2026. That would indicate customer orders are arriving faster than the company can fill them.
Bank of America maintained its Buy rating and $550 price target on Ciena shares.