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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Wyätt Gwyön who wrote (57789)1/13/2001 3:09:24 PM
From: patron_anejo_por_favor  Read Replies (1) of 436258
 
Interesting, Mucho. Heinz and I discussed CREE briefly when their earnings came out; our main concern was with their receivables. I agree that LED's are becoming commoditized, lots of overseas competitition there. It's encouraging to hear Roberts is reco-ing it as a short candidate. I'll definitely be taking a closer look.

So, what shorts does Roberts like now? Cree, a maker of high-brightness LEDs, or light-emitting diodes, has enjoyed growing sales, thanks, in part, to scarce industry production capacity. Roberts thinks the firm's shares, recently trading at 33, could fall to 20 as the high-brightness LEDs become a commodity. Average selling prices declined 13% in the six months ended June, notes the analyst.

Cree CFO Cindy Merrell calls Roberts' reports "very misleading." While acknowledging an increase in industry capacity, Merrell says Cree deliberately cuts prices to gain market share. "These are not commodity-priced products," she counters.
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