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Why Ciena Stock More Than Doubled in the First Half of 2026

The Motley Fool·
Why Ciena Stock More Than Doubled in the First Half of 2026

Ciena's stock surged 109.8% in H1 2026, driven by accelerating demand for optical networking infrastructure supporting AI workloads. The company reported 40% YoY revenue growth to $1.57B and a $7.7B backlog. However, the stock now trades at 153x trailing earnings and 78x free cash flow, exposing investors to significant valuation risk despite strong fundamentals.

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