I've noticed 3 or 4 posts questioning whether or not to sell CREE.
This puzzles me.
(I admit it doesn't take much to puzzle me...)
:^)
I begin to wonder if CREE's growth rate has not been large enough, to be considered acceptable?
1) Record third quarter fiscal year 2000 revenue of $28,363,000, a 19 percent increase, sequentially, and a 77 percent increase over the $16,035,000 reported
in the year ago period.
2) Earnings per share rose 136 percent to $0.26, per diluted share, over the $0.11, per diluted share, reported in the comparable period in the prior year.
3) Net income increased 171 percent to $9,155,000 compared to $3,377,000 in the year ago period.
4) Product revenue grew 86 percent on a year-over-year basis, and 18 percent, sequentially.
5) CREE actually has a respectable P/E ratio among tech leaders.
After a correction of this magnitude, investors are reevaluating their holdings and actually looking for value.
It's quite possible that CREE is the company who provides this value. With it's Market cap being ~4 billion, there is plenty of room for growth.
Techically speaking, CREE has broken out above it's upper
trend channel line. Many of it's indicators are pointing to buy.
With all this going for CREE, I'm puzzled as to why one would sell?
-ClaptonsGuitar
Disclaimer #1: I am a jack@ss who was watched portfolio diminish more than 65% off it's high.
Disclaimer #2: I'm the same jack@ss who panicked two weeks ago during the first fallout only to buy back some of my stocks at a higher price. I panicked once. I will not panic again.
Disclaimer #3: I'm holding CREE long and it is now my largest holding in comparison at 25% of my portfolio.
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