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Technology Stocks : Wolf speed
WOLF 17.61-0.5%Nov 19 3:59 PM EST
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To: BI*RI who wrote (3414)8/2/2000 10:46:10 PM
From: James Hutton  Read Replies (1) of 10713
 
Whew, what a day. IMHO - and I've owned CREE for about 1 1/2 years now - CREE is going through the same market valuation adjustment that any number of other stocks have undergone, usually after earnings. For example, FDRY had over 20% sequential sales growth and forecasts the same for the next year; knock it down 40 or 50 points. Only reason is that a few other networkers - RBAK, JNPR had higher sequential growth. CMRC sales went up over 1000% and is making inroads into setting up business exchanges; has many other positives. But ARBA had more sales - forget they have a completely different business model. Knock it down 50%. GSLI was knocked down 50% (part of which was a overdone runup) for absolutely no reason. Many others.

With CREE, someone decided that 10%+ sequential growth wasn't good enough for investors who only think of next week on a good day. Selling started a week or two ago and has continued unabated. Today was close to a climax. Unless there really is some bad news out there the company didn't reveal, my humble guess is that tomorrow AM will see climax selling, followed by a period of very high volatility before stock begins to rise again. But don't hope to get much over 100 for the next few months.

Market now sees 60% growth not as 20% better than 50% growth, but as 15% worse than 70% growth.

P.S. - CFO is a "she"

Sorry to ramble
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