However, "as Internet traffic doubles every two years service providers will have to make capital investments," Johnson added.
If you're looking to trade the stock, Fast Money trader Pete Najarian said he wouldn't chase it. "But if it sells off, then I’m a buyer."
Looking forward, analysts are now particularly keen to hear from Juniper’s rival, Cisco Systems . They say upbeat comments from Cisco Chief John Chambers could bolster investors' confidence, even if results do not.
Credit Suisse analyst Paul Silverstein on Monday raised his rating on Cisco to "outperform" from "neutral," hiking his share price target to $25 from $22, as he forecast greater visibility, particularly in North America.
"To be clear, we are not hearing about a significant, robust improvement; rather, our checks indicate that Cisco is seeing modest improvement in order trends." Silverstein said in the report.
What do you think? We want to know!
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Trader disclosure: On July 24th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Seymour Owns (TSL), (MSFT); Grasso Owns (ASTM), (BAC), (BA), (COST), (FAZ), (OXY), (V), (WMT), (XLF), (T); Terranova Owns (MSFT), (MCD), (GOOG), (AMZN), (AXP); Najarian Owns (CSCO) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (MCD) And Is Short (MCD) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Call; Najarian Owns (YHOO) Call Spread; Najarian Owns (V) And Is Short (V) Calls; Najarian Owns (HIG) Calls
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