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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: DownSouth who wrote (14500)	1/8/2000 7:34:00 AM
From: Jill	Read Replies (2) of 54805

Someone on the Cree thread found the correct URL for the report, which I just printed out: stephens.com "In our opinion no other stock on our coverage list has as much long-term potential as Cree." On the other hand they reiterate a market outperform rating and price target is $90; Cree closed at 74 Friday I believe. I think this is because as they say "It's an extremely expensive proposition to ramp up the manufacturing capacity required to satisfy the current demand for high-brightness LEDs and the potentially greater future demand for silicon carbide chips..." They say Cree is raising $200 million more than it currently needs, and they expect them to use it in a strategic partnership, which they believe is necessary. It sounds in sum as if they think Cree is perfectly positioned to be a gorilla in this arena but that right now they have to spend a lot of $ to increase capacity--i.e. they're still in the building/positioning stage.

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