Ciena's Selloff Weighs on Nokia Amid Industry Valuation Concerns

Nokia's American depositary shares (NOK) fell 2.1% to $9.635 in early New York trading, while Ciena Corporation (CIEN) sank 9.4% despite reporting a 37% quarterly revenue growth.

Nokia's AI-and-cloud sales rose 105% in its latest quarter, but the company's reported operating margin was negative. This contrast highlights the debate over valuations in the industry.

Ciena's strong results failed to boost investor confidence, with its shares down 9.4%. Nokia's volume reached 13.8 million shares by 09:58:47 EDT, while Cisco Systems (CSCO) lost 1.3% and Telefonaktiebolaget LM Ericsson (ERIC) gained 0.6%.