The whole sector is just crazy-making. Catching CIEN below $25? I wish I had been awake when that happened. It's still off about 2%. And my read of NOK's earnings is that they 'messed the bed', as Neil used to say. And the news reports I'm seeing say that NOK was 7% down earlier. Don't know if that's accurate but it's down less than .2% now. And INFN is rallying nicely, dancing to the beat of some completely different drummer.

What do I make of this? That the el crapo quarter is being dismissed,  and Suri's beating the drum hard for how marvelous things are going to be in the second half is being taken at face value, no looking under the hood nor kicking the tires. Kind of the ultimate 'joke', if one wants to look at it this way: NOK has a bad quarter (50% miss earnings, miss revs) and CIEN takes the dive, lol! Just like the quirkiness of this sector.

While I'm certainly glad to see no effect from the quarter, I'm surprised to see Suri taken at face value. Yes, there has to be a strong secular trend with 5G coming (but still, why does CIEN take  the hit today?)  But Suri has made predictions before that he couldn't meet when the time came to pony up. He started reminding me of Fallon, when the wheels started coming off of INFN. The only upshot being, really, that I think he'd better deliver in second half, or NOK will likely get crushed, I'd think. 

In other news, AMD just crushed everything and is up 11%. It's dragging INTC with it, up 2%. (Altho INTC is going to report soon, I think.) And there's news that INTC just hired ex-AMD CPU guru Jim Keller, away from Tesla, where he currently works. Some months ago they hired away AMD's videocard guru. I think these are good moves, given that all you need is one genius at chip design to make a difference. (And INTC seems to have continuing problems with the 10nm shrink, delayed time and again.)

And also: MSFT announced a major firmware update to Xbox One S and X - lots of minor changes, and one big one - support of 120Mhz. In practical terms, you're not going to be able to run games at 120mhz @ some insane resolution and FPS. But it's going to be a noticeable difference, and be able to take advantage of some of the features of high end monitors - gaming at 1440 w/freesync will be entirely doable, from what I've read. I hope my 4k tv benefits from it, as I use that as a monitor. The idea is to make the Xbox a viable alternative to using a PC to game, especially that the cost of a 1080 and 1080 ti exceed the price of an xbox one x.  I did take the plunge and bought an X, and it seems totally worth it to me, the exception being that on PC I can MP for free, while on Xbox it requires gold. 

Like Jon, I've done nothing with INFN regarding calls. Not sure whether I'll write them, or wait and see what earnings brings.