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Technology Stocks : Wolf speed
WOLF 21.81+2.6%Dec 3 3:59 PM EST
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To: Backfill who wrote (2027)2/12/2000 5:42:00 PM
From: pompsander  Read Replies (1) of 10713
 
Backfill...For several Years CREE has sold a large portion of its Silicon Carbide wafer output to the company which produces and markets the jewelry Downsouth bought his wife. CREE had even entered into a contractual arrangement whereby this firm was required to purchase a large percentage of the SiC output each year. This has been a nice source of revenue for CREE and has "paid the bills" while they continued to work on higher margin product designs. Gemstones were never intended to be a major staple of their income stream going into 2000 and beyond. However, the fact that CREE produced what the tabloid business media called "fake diamonds" was used by Hank Greenberg and others as a cheap and easy way to dis the entire CREE story. This kind of shoot from the hip lack of due dilligence from Greenberg and others has infuriated the loyal CREE investor community who have done their homework and understand the big picture.

As to future gem production, for a variety of reasons CREE will be selling less and less SiC output to C and C over the next few years by mutual agreement. This has nothing to do with lack of success of the product, rather that CREE has bigger and better plans for its expanded SiC output and C and C does not need the contracted percentage of output at those levels. The two companies restructured their agreement a few months ago and it was reported on fully by Neal Hunter during the CREE January conference call.

As to the jewelry, I joined Downsouth this afternoon and bought a pair of beautiful moisanite earrings. I am pleased with the cut and fire displayed by this jewelry and the price was well within my target for a nice valentine's day gift. The saleslady told me that since the national advertising campaign for the jewels began the interest has greatly increased. She says they sold everything they had over Christmas and are selling their new shipment better than they had hoped.
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