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Technology Stocks : Wolf speed

WOLF 22.07

-3.0%

Dec 5 9:30 AM EST

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To: w2j2 who started this subject	9/25/2003 8:23:48 AM
From: w2j2	Read Replies (2) of 10714

7:24AM Cree upped to Overweight from Equal Weight at ThinkEquity (CREE) 19.36: ThinkEquity upgrades stock after Nichia struck a blow against Taiwanese competitors in court that will likely result in less pressure on LED ASP's in the near-to-medium term. Specifically, Nichia won a preliminary attachment order in Taiwan against EPISTAR Corp, freezing assets due to patent infringement issues regarding LED products. Cree and Nichia have cross licensed patents, but have seen ASP pressure mounting from Taiwanese manufacturers. ThinkEquity believes this represents the first shot across the bow of LED manufacturers that have not licensed IP from Nichia, which could result in reduced LED pricing pressure for Cree going forward. With this court decision, it is likely that Cree will benefit from more stable ASP's as Taiwanese vendors are forced to license IP from Nichia. Firm raises price tgt to $25 from $18.

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