Jim Cramer’s 20 Stock Calls: Microsoft, SoFi, and Tech Earnings Recap

15. Ciena Corporation (NYSE:CIEN)

Ciena Corporation (NYSE:CIEN) was among Jim Cramer’s stock calls on Mad Money recently as he recapped mega-cap tech earnings. Answering a caller’s query about the stock, Cramer remarked:

No, don’t need to… That one got away. That was Gary. He did an incredible job. If it came back down, I mean, in fairness, it went up to $527, it’s come down to $475. But… it’s up 100% and… People talk about this Rule of 40 they love. I think up 100%’s a little bit too hot for me, so I’m going to have to hold off. Boy, I remember when I bought that thing at the end in 1999. I crushed it.

Ciena Corporation (NYSE:CIEN) builds networking equipment, including optical systems, routers, and switches, and provides software to manage and automate networks. While discussing Q1 winners and losers during the April 1 episode, Cramer mentioned the company and stated:

Going further down the list, the eighth-best performer, Ciena, is, it’s in the same boat. It’s another fiber optic play that’s up 66% thanks to a surging demand for networking from the data center. Ciena also returned to its place in the S&P 500 back in February. As long as we keep building these things, they’re going to need companies like Ciena. So again, you see the pattern that I’m concerned about?

These stocks just came right back today, and they provided the leadership for today and then the last day of the quarter. Here’s the problem. We know how bad the last quarter was, right? So therefore, we know these don’t have a lot of followers, and they don’t have a lot of followers even today.

If you wish to read Jim Cramer’s comments regarding the notable names in the first quarter, please visit Jim Cramer’s 19 Stock Q1 Recap: S&P 500 Winners vs. Nasdaq 100’s Worst Performers.