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Technology Stocks : Semi Equipment-Sell when they're singing in the streets
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To: Katherine Derbyshire who wrote (178)5/31/2000 11:45:00 AM
From: MARK BARGER   of 276
 
Hey, nice thread. I appreciate your comments on Cree. The LED market is indeed crowded and extremely competitive. Cree's SiC substrate design for blue, green, white allows them to be the low cost supplier and still maintain very nice margins (57%gross, 24% net - how 'bout them apples?) The real excitement generated by Cree is their pending entry into the RF/microwave device market. They are presently qualifying SiC devices with several hopeful customers. The earnings projections do not include any revenues/earnings from these products. Cree stated at their last quarterly conf. call that they would begin booking revenues from these products in this calendar year. Cree has always beaten their own projections handily, and many of us are looking to see these products introduced commercially any day now. The real money to be made in the next 3-5 year will be on these products. They will have completed a 250,000 sq. ft. production area expansion by the end of this calendar year also, which will increase their capabilities by a factor of 4.

The big question IMHO is can Cree execute? Up to now they have to perfection. Their recent acquisition of Nitres puts them at the leading edge of SiC tech. The proof is in the pudding, but the microwave products are where the real action is if Cree can exectute.

MB
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