Now What: Judging by the size and intensity of the sell-off, investors believe optical networking is doomed. Oclaro and Infinera peers Oplink Communications (Nasdaq: OPLK) and JDS Uniphase (Nasdaq: JDSU) fell 13% and 10%, respectively, in intraday trading while Finisar (Nasdaq: FNSR) suffered a 10% haircut before recovering to down just 6%. All four fire sales are probably a mistake. Judging from Akamai 's (Nasdaq: AKAM) impressive third-quarter results, consumers and businesses are using the web as much as ever, and it's impossible to meet the infrastructure needs of the modern Internet without optical components. Don't be afraid to go bargain-shopping at these levels.