Ciena is trading at $368.32, down 6.94%, as investors reduce exposure to AI-linked technology stocks ahead of Nvidia’s August 26 earnings and amid chip-sector weakness.
- Ciena is underperforming the broader technology sector, which is down 1.59% during regular trading.
- TD Cowen cut its price target to $575 from $675 while maintaining a Buy rating.
- Available evidence does not identify a new Ciena-specific announcement on August 24.