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Technology Stocks : Semi Equipment Analysis

SOXX 297.50

-2.6%

4:00 PM EST

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To: Jacob Snyder who wrote (50642)	1/19/2011 10:12:42 PM
From: Jacob Snyder	1 Recommendation Read Replies (3) of 95378

CREE 2Q11 earnings call notes: The inventory correction has been caused by a pause in the China LED streetlight demand and lower-than-expected growth in LED bulb applications... ...we expect that distribution sales will be flat to down as the inventory correction continues in Q3... We remain well positioned to lead this market and drive the adoption of LED lighting... 257M$ rev (4% down from 1Q11, missed expectations by 5%) 0.45$ GAAP EPS (guidance had been 0.46-0.50) 47% GAAP gross margins (in line, good execution) cash 1.11B$, negligible debt 3Q11 guidance: rev flat with 2Q EPS GAAP 0.29-0.36 investor.cree.com seekingalpha.com Heavily shorted: (CREE): Semiconductor Equipment & Materials Industry. Market cap of $7.3B. EPS projected to grow by 21.79% over the next five years. Current shares shorted at 22.13M (out of 111M total) vs. 18.93M shares shorted three months ago. Short float at 21.29% seekingalpha.com CREE's $50 light bulb at Home Depot: homedepot.com my comments: 1. They warned, not just for next quarter, but for the next 2 quarters. 2. Other than wealthy Early Adopters, who is going to buy those $50 light bulbs? 3. Nice balance sheet. They can survive anything. 4. If all those shorts are wrong, there is going to be an impressive short squeeze at some point...

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