I agree regarding managing expectations.  Ciena's CEO Smith is clearly not up to snuff like Fallon is, as I stated before I prefer INFN, JNPR and CSCO for long term holds. Only buying CIEN here because it is so oversold and cheap and trading at a price to sales of 1, but only for a trade.

BTW, CIEN has a lot of shorts, around 13.5%, the big drop seems to me was orchestrated.  It is very oversold now, so I would think that the shorts may continue to cover as it stabilizes at these levels, which may give it a bump up of 5% to 7% in the near term

Regarding the diff between optical component and equipment makers:  CIEN and INFN are optical equipment makers, where as Oclaro, JDSU (think they changed their name) are optical component makers.