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Technology Stocks : Wolf speed

WOLF 22.07

-3.0%

Dec 5 9:30 AM EST

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To: Sunny who wrote (1399)	12/29/1999 12:51:00 PM
From: Kelvin Taylor	Read Replies (1) of 10714

Hello Everyone- Here is my take on the recent action on CREE: 1. Techs in rally mode...again. QCOM and other upgrades have given fuel to the sector and a "rising tide lifts all boats". 2. Earnings are due out in about two weeks(Yahoo date is Jan. 12th) and we are seeing the pre-earnings runup. The EPS estimate is for $0.16 vs last year's earnings of $0.10...a 60% increase year over year. Some investors are counting on a "beat the street" number thus the buyers are coming in full force. 3. Do I hear stock split? Certainly possible because the stock split last July when it broke above $70. Don't know if CREE has authorization to split the stock yet. If not now then CREE could ask for a vote on the addition shares at the next shareholders meeting. Where from here? As we saw last summer, sometimes beating the estimate dosen't always give the stock a boost. The "buy on rumor, sell on news" is still around. Do I think CREE will sell-off like last quarter? Probably not to the same extent, but any stock that has had a run of over 100% is vulnerable to some profit taking decline. This will, if it happens, would simply be a golden buying opportunity to add to one's current portfolio of high quality companies like CREE. Do you sell if CREE hits some predetermined number like $100? Each investor has to make up his/her own mind. If any stock exceeds a certain % of your portfolio's value then reducing an amount in that stock so it returns to the original % is really never a bad idea. Long term holding will pay dividends many times over. Just be aware we have had a terrific run here since fall. Any correction shouldn't be a surprise at all. Long on CREE and still holding all shares. Kelvin

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