Ciena Corporation

AI workloads have increased demands on network capacity – and, in turn, that’s forcing AI training and machine learning to run across multiple data centers. So, the design of the network’s architecture is vital to supporting AI training and machine learning while minimizing bottlenecks.

Enter Ciena Corporation (CIEN).

Ciena provides optical networking systems and software that support increasing bandwidth demand – and it has partnered closely with data center hyperscalers to develop networks with the capacity, efficiency and reliability they desperately need.

Not surprisingly, then, its solutions are in top demand. In its second quarter in fiscal year 2026, Ciena achieved 40% year-over-year revenue growth and 290.5% year-over-year earnings growth. Earnings of $1.64 per share also topped estimates of $1.45 per share.

For the third quarter, which won’t be released until September, analysts expect earnings to jump 156.7% year-over-year to $1.72 per share, and for revenue to grow 33.9% year-over-year to $1.63 billion. Earnings estimates have also been revised higher over the past three months, which bodes well for a fifth-straight quarterly earnings surprise.

CIEN is a Moderately Aggressive buy below $453.

SOM Technicals:

3-27-26: Closed at 399.50. Trade pressures are down. Volumes are bearish. The next target down is 362.38. Bullish above 410.00.

4-11-26: Closed at 496.02. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 513.49. 467.61 is bearish.

4-18-26: Closed at 507.43. Trade pressures are up. Volumes are bullish. the next target up is 541.07. 434.81 is bearish.

4-24-26: Closed at 520.80. Trade pressures are up off the neutral zone. volumes are bullish. The next target up is 531.76. 485.16 is bearish.

5-1-26: Closed at 535.02. Trade pressures are up. Volumes are bullish. The next target up is 585.50. 475.00 is bearish.

5-8-26: Closed at 550.68. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 486.75. 579.05 would signal bullish.

5-18-26: Price at 525.89. Trade pressures are down. Volumes are bearish. The next target down is 511.33. 566 would signal higher.

5-23-26: Closed at 580.89. Trade pressures are up. Volumes are bullish. The next target up is 599.17.

5-30-26: Closed at 578.19. Trade pressures are down. Volumes are bullish. The next target up is 598.18. 542.57 would signal lower.

6-6-26: Closed at 476.01. Trade pressures are down. Volumes are bearish. The next target down is 475.90. 541.38 would signal higher.

6-13-26: Closed at 449.81. Trade pressures are down bur rising. Volumes remain bearish. The next target down is 426.31. 468.26 would signal higher.

6-19-26: Closed at 429.21. Trade pressures are down into the neutral zone. Volumes remain bearish. The next target down is 369.43. 458.25 would signal higher.

6-27-26: Closed at 477.60. Trade pressures are up. Volumes are bullish. The next target up is 517.89. A close below 458.54 would signal lower.

7-3-26: Closed at 423.20. Trade pressures are down. Volumes are bearish. The next target down is 384.15. A close above 470.37 would signal higher.

7-10-26: Opened at 462.43. Trade pressures are up. Volumes are neutral. The next target up is 551.00. A close below 433.60 would signal lower.

7-20-26: Closed 378.77. Trade pressures are down but rising. Volumes are bullish. The next target down is the 358.48 target. A close above 417.17 would signal higher.

7-25-26: Closed at 390.00. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 364.29. A close above 416.23 would signal higher.

7-31-26: Closed at 377.05. Trade pressures are up. Volumes are neutral. The next target up is 400.40. A close below 355.81 would signal lower.

 

HF Sinclair Corporation

Global oil refining margins recently breached another record high, as global refining capacity remains pinched due in part to restrictions on Russian diesel, limited shipping traffic in the Strait of Hormuz and Ukraine’s relentless attacks on Russian refineries.

As a result, many American refineries need to meet the ongoing demand for refined petroleum products like gasoline and jet fuel. Based on its recent quarterly results, HF Sinclair Corporation (DINO) is up to the task.

The company’s refining segment alone earned $877 million, up from $166 million in the second quarter of 2025. HF Sinclair’s refinery gross margin also surged to $25.95 per produced barrel sold, representing a 57% year-over-year increase.

Total second-quarter revenue grew 53% year-over-year to $10.39 billion, beating estimates of $8.95 billion. Adjusted earnings surged 198.1% year-over-year to $960 million, or $5.31 per share. Analysts expected adjusted earnings of $4.49 per share, so DINO posted an 18.3% earnings surprise.

HF Sinclair also noted that it returned $265 million to shareholders through dividends and stock buybacks. And the company plans to boost its quarterly dividend by 5%. The company will now pay a quarterly dividend of $0.525 per share, up from $0.50 per share, on September 2. All shareholders of record on August 11 will receive the dividend. The stock has a 2.3% dividend yield.

DINO is a Conservative buy below $100.

SOM Technicals:

7-31-26: Closed at 92.34. Trade pressures are up. Volumes are bullish. The next target up is 94.93. A close below 88.11 would signal lower.

 

Enlight Renewable Energy Ltd.

Spending on data center construction in the U.S. has now exceeded $50 billion. Keep in mind, that figure only covers physical construction costs (the buildings, land, concrete and shells.)

But to put that into perspective, the U.S. has earmarked more money for data centers than for public transportation infrastructure (e.g., airports, mass transit, marine terminals, etc.).

That’s great news for last month’s new addition to the Buy List, Enlight Renewable Energy Ltd. (ENLT).

Enlight Renewable Energy provides a renewable energy platform that helps power data centers popping up across the country. The company provides large-scale renewable energy production through solar, wind and energy storage projects. Its portfolio includes 4,906 megawatts of solar power, 1,538 megawatts of wind power and 17,896 megawatt hours of clean energy storage.

Strong demand for its power solutions is expected to add handsomely to its top and bottom lines.

Enlight Renewable Energy is scheduled to release second-quarter results on Tuesday, August 4. The current consensus estimate calls for earnings to surge 1,500% year-over-year to $0.16 per share. Revenue is forecast to rise 22.4% year-over-year to $569.53 million.

Enlight Renewable Energy also has a history of posting big earnings surprises, having achieved 87%, 207% and 49% in the past three quarters, respectively. ENLT is a Conservative buy below $95.

SOM Technicals:

7-326: Closed at 84.50. Trade pressure are down but rising. Volumes are neutral. The next target down is 81.73. A close above 86.71 would signal higher.

 

Micron Technology, Inc.

Spending on generative AI-capable edge device hardware was estimated at $3.7 billion in 2025. This is projected to grow at a compound annual rate of 28.3% over the next decade.

Why is this important? Edge devices process massive amounts of data and enable AI workloads to run closer to the data’s sources. In other words, edge devices provide more privacy, better connectivity and more efficiency.

But AI workloads in edge and cloud environments alike still face memory and storage challenges – and Micron Technology, Inc. (MU) is one company facing them head-on.

Micron Technology offers advanced memory and storage technologies designed to manage these challenges while providing the efficiency, reliability and performance necessary for AI workloads. So, Micron Technology’s solutions are a critical component of data centers.

That was certainly apparent in the company’s latest quarterly results.

For its third quarter in fiscal year 2026, Micron Technology achieved total revenue of $41.46 billion and earnings of $28.86 billion, or $25.11 per share. That represented 73.8% year-over-year revenue growth and 1,223.1% year-over-year earnings growth.

Yet, demand for Micron Technology’s memory and storage technologies is just starting to hit the gas, with analysts predicting another big acceleration in earnings and revenue in its fourth quarter.

Fourth-quarter earnings are forecast to soar 934% year-over-year to $31.33 per share, and revenue is expected to jump 349.3% year-over-year to $50.84 billion. Analysts have also increased earnings estimates by 40.7% in the past three months, so a quarterly earnings surprise is likely.

MU is an Aggressive buy below $1,083.

SOM Technicals:

2-27-26: Closed at 411.81. Trade pressures are down. Volumes are bearish. The next target down is 379.56.

3-6-26: Closed at 369.17. Trade pressures are down but rising. Volumes are bearish. The next target down is 360.46.

3-14-26: Closed at 425.00. Trade pressures are up. Volumes are bullish. The next target up is 439.00.

3-22-26: Closed at 425.50. Trade pressures are down. Volumes are bearish. The next target down is 392.47.

7-31-26: Closed at 817.61. Trade pressures are up. Volumes are bearish. The next target down is 751.27. A close above 893.65 would signal higher. 

 

Seagate Technology Holdings plc

Persistent AI demand has created massive order backlogs for AI- and data center-related companies alike. In fact, increasing demand for hard drives – which are in top demand for cloud data centers – drove Seagate Technology Holdings plc’s (STX) order backlog up 500% in the past 12 months.

The company has revealed that its core product line, AI-capable hard drives, is basically pre-sold for all of fiscal year 2027. Essentially, Seagate Technology stated that its earnings and sales momentum are set to accelerate for the foreseeable future.

Earlier this week, Seagate Technology reported that fourth-quarter revenue grew 48.5% year-over-year to $3.63 billion, while earnings soared 120.5% year-over-year to $5.71 per share. The consensus estimate called for earnings of $5.09 per share and revenue of $3.49 billion.

For its fiscal year 2026, Seagate Technology achieved total revenue of $12.2 billion and earnings of $15.58 per share. That represented 34% annual revenue growth and 92.3% year-over-year earnings growth. Analysts only expected revenue of $12.06 billion and earnings of $14.89 per share.

STX is a Moderately Aggressive buy below $1,074.

SOM Technicals:

12-20-25: Closed at 300.01. Trade pressures are up. Volumes are neutral. The next target up is 312.94.

12-26-25: Closed at 286.22. Trade pressures are uup. Volumes are neutral. The next target down is 278.82.

1-2-26: Closed at 288.10. Trade pressures are up. Volumes are bullish. The next target up is 294.35.

1-10-26: Closed at 304.48. Trade pressures are down, but rising. Volumes are bullish. The next target up is 310.73.

1-24-26: Closed at 346.10. Trade pressures are up. Volumes are up. The next target up is 351.06.

1-30-26: Closed at 403.00. Trade pressures are up but declining. Volumes are neutral. The next target down is 379.01.

2-7-26: Closed at 427.90. Trade pressures are down into the neutral zone. Volumes are neutral. The next target up is 468.32.

2-14-26: Closed at 423.00. Trade pressures are up. Volumes are neutral. The next target up is 447.54.

2-20-26: Closed at 411.15. Trade pressures are down. Volumes are neutral. The next target down is 381.01.

3-27-26: Closed at 377. Trade pressures are down. Volumes are bearish. The next target down is 367.16. Bullish above 402.41.

4-11-26: Closed at 503.70. Trade pressures are up. Volumes are bearish. The next target up is 516.11. 484.45 is bearish.

4-18-26: Closed at 547.75. Trade pressures are up. Volumes are bullish. The next target up is 587.19. 531.19 is bearish.

4-24-26: Closed at 586.88. Trade pressures are up. Volumes are  bullish. The next target up is 614.00. 563.96 is bearish.

5-1-26: Closed at 727.29. Trade pressures are up. Volumes are bullish. The next target up is 738.65. 643.61 is bearish.

5-8-26: Closed at 782.35. Trade pressures are up. Volumes are bullish. The next target up is 810.11. 729.98 would signal lower.

5-18-26: Price is 735.26. Trade pressures are down. Volumes are bearish. The next target down is 699.42. 799 would signal higher.

5-23-26: Closed at 810.00. Trade pressures are up. Volumes are bullish. The next target up is 817.61. 771.37 would signal lower.

5-30-26: Closed at 879.00. Trade pressures are up. Volumes are bullish. The next target up is 905.39. 844.76 would signal lower.

6-6-26: Closed at 833.00. Trade pressures are down. Volumes are bearish. The next target down is 828.65. 962.11 would signal higher.

6-13-26: Closed at 936.13. Trade pressures are up. Volumes are now bullish. The next target up is 969.76. 861.10 would signal lower.

6-19-26: Closed at 1076. Trade pressures are up. Volumes are now bearish. The next target down is 980. 1103 would signal higher.

6-27-26: Closed at 902.43. Trade pressures are down. Volumes remain bearish. The next target down is 812.26. A close above 996.23 would signal higher.

7-3-26: Closed at 824.52. Trade pressures are down. Volumes are bearish. The next target down is 769.60. A close above 881.44 would signal higher.

7-10-26: Opened at 889.79. Trade pressures are up. Volumes are neutral. The next target up is 957.57. A close below 913.20 would signal lower.

7-20-26: Closed at 802.45. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 871.94. A close below 785.44 would signal lower.

7-25-26: Closed at 840.00. Trade pressures are down. Volumes are bearish. The next target down is 746.44. A close above 957.00 would signal higher.

7-31-26: Closed at 846.10. Trade pressures are up. Volumes are bearish. The next target up is 911.03 . A close below 790.41 would signal lower.