15 Best AI Stocks to Buy and Hold for the Next 5 Years

8. Ciena Corporation (NYSE:CIEN)

Number of Hedge Fund Holders: 73

On June 4, Ciena Corporation (NYSE:CIEN) CEO Gary Smith told Bloomberg Open Interest that growing artificial intelligence networking demand differs fundamentally from the dot-com era. He commented that the company is benefiting from expanding AI infrastructure investment and growing enterprise adoption.

Smith revealed Ciena Corporation (NYSE:CIEN) has delivered a fourfold year-over-year growth in profitability and generated significant operating leverage. He noted that the corporation holds an “enormous backlog” that it expects to ship through 2027 and beyond, supporting future earnings. Smith said, “We’ve demonstrated it over the last eighteen months. We have an enormous backlog that we’re confident will ship out in 2027 and beyond, and we’re dropping that to the bottom line.” He also described the network technology firm as “the only focused optical systems player in the world.” The CEO credited the firm’s technology, customer relationships, and operating model for allowing the company to convert backlog into profitability.

Ciena Corporation (NYSE:CIEN) is a network technology company. It functions through Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services segments.